Mortgage Underwriter

The Mortgage Underwriter is responsible for underwriting residential mortgage loans in adherence to FNMA (Fannie Mae) and FHLMC (Freddie Mac) guidelines, ensuring accurate evaluation of creditworthiness and compliance with all investor and agency requirements. The role requires a comprehensive review of loan applications, credit reports, income documentation, and property appraisals to make informed decisions regarding loan approval or denial.

Essential Job Functions:

· Re-underwrite loan files purchased by lenders, ensuring complete documentation and identifying any outstanding conditions required for loan approval.

· Conduct thorough reviews of borrower credit reports, including verification of trade lines, derogatory accounts, public records, and resolving discrepancies through credit reconciliation.

· Perform detailed income calculations for various sources including salaried income, business income, retired income, and rental income. Expertise in reviewing all types of tax returns and supporting documentation is required.

· Complete a thorough analysis of property valuations and ensure the collateral meets investor guidelines and property eligibility standards.

· Verify borrower assets by reviewing bank statements, retirement accounts, mutual funds, and other investments, ensuring that they meet down payment and reserve requirements.

· Conduct a full credit analysis based on the borrower’s Income, Assets, Liabilities, and Collateral to assess their overall creditworthiness and ability to repay the loan.

· Validate and process loan documentation for a mortgage lender, ensuring all requirements are met, and that the loan complies with FNMA/FHLMC guidelines.

· Evaluate the borrower’s ability and willingness to repay the loan, ensuring sound risk management and adherence to company and investor guidelines.

· Apply sound business judgment to underwriting decisions, with the ability to balance risk and reward effectively.

Other Related Duties:

Performs other related duties as assigned.

Supervisory Responsibilities:

This job has no supervisory responsibilities

Qualifications:

To perform this job successfully, an individual must be able to perform each essential function satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions of the job.

· Strong knowledge of FNMA, FHLMC guidelines, and familiarity with GNMA and other investor guidelines as an additional benefit.

· Strong verbal and written communication skills, with the ability to present findings and decisions clearly.

· Strong analytical and problem-solving skills, particularly in assessing borrower profiles and determining eligibility.

· Ability to make sound underwriting decisions by applying business judgment and understanding of loan risks.

· Strong verbal and written communication skills, with the ability to present findings and decisions clearly.

· Must be self-motivated, diligent, and capable of working independently in a fast-paced environment.

Education and/or Experience:

• High School Diploma or GED Required; Bachelor’s degree preferred
• Minimum of 5 years of U.S. mortgage underwriting experience with a focus on conventional loans.

Language Skills:

Ability to read and comprehend instructions, correspondence, memos, and work place policies. Ability to analyze, interpret general business periodicals, professional journals, procedures and governmental regulations. Ability to write professional correspondences. Ability to write routine business reports. Ability to speak effectively with other employees and/or customers. Ability to present formal information in one-on-one and small group situations to customers, students, parents and/or other employees. Ability to present information and respond to questions from groups of administrators, managers, employees, customers and/or the general public.

Mathematical Skills:

Ability to work with mathematical concepts such as probability and statistical inference, and fundamentals of plane and solid geometry and trigonometry. Ability to apply concepts such as fractions, percentages, ratios, and proportions to practical situations.

Reasoning Ability:

Ability to carry out detailed written and/or verbal instructions. Ability to solve problems involving concrete variables in standardized situations. Ability to define problems, collect data, establish facts, and draw valid conclusions.

Certificates, Licenses, Registrations:

Customer Service Relationships:

Anticipates customer needs and regularly motivates or influences others to deliver customer service excellence. May troubleshoot highly sensitive or confidential issues. Personally ensures problem resolution. Identifies barriers to effective customer service and sets customer service standards. Establishes a customer feedback system and holds self-accountable for customer service excellence within the department.

Physical Demands:

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee is frequently required to sit and talk or hear. The employee is occasionally required to stand; walk; use hands to finger, handle, or feel; and reach with hands and arms. The employee must occasionally lift and/or move up to 25 pounds.

Work Environment:

The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. The noise level in the work environment is usually moderate.

Equal Employment Opportunity

The Company is committed to providing equal employment opportunities to all employees and applicants without regard to race, ethnicity, color, sex, marital status, sexual orientation, gender identity or expression, pregnancy, religion, national origin, age (40 and over), disability, military status, genetic information or any other basis protected by applicable federal, state, or local laws.

Americans with Disabilities Act

Applicants as well as employees who are or become disabled must be able to satisfactorily perform the essential job functions of the position either with or without reasonable accommodation. Applicants as well as employees are encouraged to meet with Human Resources as the organization shall review reasonable accommodations on a case-by-case basis in accordance with applicable law.

Job Responsibilities

The following statements reflect the general duties and responsibilities considered necessary to perform the essential functions of the job and should not be considered as an all-inclusive list of all the work requirements of the position. The Company may change the specific job duties with or without prior notice based on the needs of the organization.