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.

This is a local, in-office position, based out of our Corporate HQ in Brookfield, WI. Employees are able to work from home one day per week, at the discretion of management.

*Either DE or SAR designation is a requirement for this position*

RESPONSIBILITIES:

• Underwrites loan Program Loans to verify for completeness, accuracy, and compliance.
• Develops and maintains an up-to-date and sound knowledge of multiple loan product guidelines offered by the company, DU/LP guidelines, and risk assessment tools used to decide mortgage loans
• Adherence to policies and procedures set forth by Novus Home Mortgage
• Revises loans to new terms and identifies additional conditions as needed to ensure a viable credit decision
• Reviews and evaluates borrower(s) profile including but not limited to all income documentation, tax returns, credit reports, preliminary report, judgments, bankruptcy documents, and appraisals
• Analyzes and calculates income documentation and ensures all necessary documentation is requested to support final loan decisions
• Ensure loans meet the Ability to Repay (ATR) rules established by the Consumer Financial Protection Bureau (CFPB)
• Exercises good judgment conducts reasonableness tests, and issues quality decisions
• Determines the accuracy and completeness of files; ensures processes are consistent
• Maintains pre-established service level standard of decisions within the time frame set by the company
• Communicates regularly with the sales team, processors, and management
• Consistently meet or exceed established minimum productivity and quality goals set forth by management
• Responsible for a timely response on audits of loan files underwritten prior to and after funding is obtained.
• Review all documentation submitted in a file for compliance with product and investor guidelines, borrower validation, Ability to Repay, and risk mitigation.
• Perform other duties as assigned.

REQUIREMENTS:

• A minimum of two years of current frontline mortgage Underwriting is required; DE or SAR- required
• Appraisal review and tax return analysis skills required
• Prior credit signing authority is a plus
• Strong analytical and decision-making/problem-solving skills
• Possess a keen eye for accuracy, attention to detail, and the ability to handle a high-volume workload
• Proficient in computers including LOS systems, specifically Encompass
• Ability to deliver effective results and meet deadlines with minimal supervision
• High School diploma or equivalent