Underwriter

SUMMARY:

Underwrites residential loans ensuring compliance with appropriate company, secondary market Investor standards, and all applicable laws. The Underwriter will be responsible for examining loan documentation for accuracy and completeness; is involved in one or several types of mortgage lending including but not limited to conventional program loans. Must be able to underwrite wholesale and retail loans within the company and industry guidelines. The Underwriter will also be working with Loan Originators, Branch Managers, and Processors to secure all required documents.

Essential Duties and Responsibilities

• Reviews loan applications and supporting documentation to insure thoroughness and accuracy
• Calculate income and assets accurately and require sufficient documentation to support findings and decision.
• Review appraisals according to appraisal guidelines and within service level agreements.
• Reviews and analyses loan-to-value and debt-to-income ratios
• Evaluates the borrower(s) profile including but not limited to all income documentation, tax returns, credit reports, preliminary report, judgments, bankruptcy documents and appraisals and ensures all necessary documentation is requested to support final loan decisions
• Interacts with Quality Control, Compliance, and Funding for problem resolution, risk evaluation, and compliance concerns
• Exercises good judgment and delivers an underwriting decision on each loan file within determined underwriting service level agreements
• Communicates with the Loan Officer, Processor, and Closer to aid in resolving conditions.
• Develops and maintains an up to date and sound knowledge of multiple loan product guidelines offered by Novus Home Mortgage, DU/LP guidelines, and risk assessment tools
• Demonstrates proficiency in automated underwriting systems

Disclaimer: Job description is not a complete list of duties. The Loan Processor may and/or will be required to perform other functions as asked by management. The Loan Processor must be self-sufficient and show the initiative to self -educate in industry products and program guidelines.

Qualifications:

• Three (3) to five (5) years of recent underwriting experience in the mortgage industry required
• Knowledge of basic lending and underwriting policies and procedures, including guidelines issued by FNMA and FHLMC
• Sound judgment and decision-making skills
• Ability to work under pressure and meet deadlines with minimal supervision
• Excellent organizational skills
• Experience using Encompass

Required Education and Experience:

• High School Diploma or Equivalent
• Knowledge of Freddie Mac, Fannie Mae and FHA/VA guidelines
• Active DE and/or SARs certification is preferred
• Familiarity with automated underwriting technology i.e., Fannie Mae Desktop Underwriter and Freddie Mac Loan Prospector
• Proficient in data entry and management

Language Skills:

• Ability to speak, read and write fluently in English
• Fluency in other languages preferred
• Articulate speaker with good interpersonal skills

Required Competencies:

• Problem-solving - identifies and resolves challenges in a timely manner by gathering and analyzing information skillfully. Develops alternative solutions using facts and reasoning in presenting business case for pursuing appropriate course of action.
• Communication - speaks clearly and persuasively in all types of situations. Listens and seeks clarification as necessary to understand and fulfill business objectives. Able to read and interpret complex information and regulatory requirements. Must be able to build effective intra-corporate relationships and collaborations, and liaison with various business departments.
• Business acumen - understands business implications and decisions, displaying appropriate balance between revenue growth and compliance with existing laws and regulations. Demonstrates working knowledge of regulated financial industry.
• Ethics - Keeps commitments and inspires trust by others. Understands and appreciates the value of integrity in self and others. Upholds organizational values. Maintains strict confidentiality of business information and processes.
• Judgment - exhibits sound and accurate judgment. Supports and explains rationale for decisions. Includes appropriate people in decision-making.
• Planning and Organizing - prioritizes and plans work activities. Uses time efficiently. Sets goals and objectives.
• Professionalism - approaches others in a tactful, respectful manner. Reacts well under pressure.
• Adaptability - adapts quickly to changes in work priorities and manages competing demands appropriately. Modifies approach or method to best fit the situation. Ability to deal with frequent changes, delays, or unexpected events.
• Initiative - undertakes self-development activities. Seeks increased responsibilities, while asking for assistance when needed.
• Innovation - assist department in developing and implementing creative ideas and methods to increase overall efficiency and departmental value.
• Teamwork – work with fellow team members inside and outside the department, treating everyone with dignity and respect, always willing to help others, with exceptional customer service.