What are the responsibilities and job description for the Sr. Residential Loan Underwriter position at KBW Financial Staffing & Recruiting?
Mostly Remote but must be local to New England
$40-$55 per hour
Part Time- 3 days per week, 24 hours per week
Responsibilities
KBW789
$40-$55 per hour
Part Time- 3 days per week, 24 hours per week
Responsibilities
- Under the general direction of the Vice President - Retail Lending Manager, perform a variety of clerical and administrative tasks in connection with the processing of Mortgage and Consumer loans
- Responsible for reviewing loan files and communicating with the Senior Loan Processor to ensure that application data is complete for underwriting purposes
- Analyze applicant’s financial status, credit and property evaluations to determine terms and conditions of approving the loan
- Independently interpret underwriting guidelines and keep necessary parties informed of changes and updates
- Recommend approval of customer applications for residential loans or extensions of real estate loan lines
- In the absence of the Mortgage Loan Originator assist the customer with questions regarding the loan application, terms of the loan and product information
- Serve as liaison with customers, brokers and attorneys to resolve problems and to ensure that all documentation is accurate and complete
- Evaluate risk for each loan
- Based on risk analysis, make an underwriting decision for each loan with limits up to secondary market guidelines
- Respond to Lending Policy inquiries within scope of authority
- Prepare application disposition correspondence including commitment letters, adverse action notices and corresponding appeal information; maintain status of all applications for accurate preparation of Pipeline Report; receive and transmit applicant's commitment and status updates to conveyancing attorney, originators and other employees as needed
- Responsible for audits of loan files prior to and after funding is obtained
- Serve as liaison with customers, brokers, correspondent lenders, investors and attorneys to resolve problems and to ensure that closing documentation is accurate and complete
- Responsible for verifying HMDA information for accuracy at loan level
- Keep abreast of residential and consumer loan products
- Comply fully with all federal, state and local laws and regulations, policies and procedures, including but not limited to the S.A.F.E. Act and its registration, renewal and updating requirements
- Keep abreast of all loan underwriting, processing and closing tasks and assist as necessary to maintain smooth and effective workflow and update the Bank’s policies
- Assist with underwriting other loan products such as Consumer Loans, HELOCS, Small Business Loans, etc. as needed
- Knowledge of basic lending and underwriting policies and procedures, including guidelines issued by FNMA and FHLMC, as well as federal and state regulations
- Minimum of 3-5 years Mortgage Banking underwriting experience required
KBW789
Salary : $40 - $55