Description

Underwriting
• Underwrite ethical and salable loans
o Evaluate risk and ensure quality of each loan
o Conduct reasonableness tests at each step of the process
o Exercise judgment about ratios and Guideline compliance in light of other off-setting circumstances
o Identify loans for exceptions
• Work with Mortgage Banking and Secondary Markets to resolve Conditions
o Approve loans or return file
• Determine other methods/documentation to meet Investor Guidelines
o Establish Conditions to meet Investor Guidelines
o Negotiate with Investors and Loan Officers
o Analyze counter-offers for compliance and acceptability
• Monitor and track Conditions for compliance with Underwriter Guidelines
o Monitor status of all Conditions
o Order PMI
o Clear Conditions that are within scope of job
• Determine accuracy and completeness of underwritten loans for compliance with specified Investor Guidelines
o Review and evaluate credit packages
o Review and evaluate appraisals
o Review and evaluate Asset documentation
o Review and evaluate condo-documentation
Loan Officers
• Work with Loan Officers to restructure a problematic loan
o Recommend alternative products/Investors
• Develop and maintain relationships with Loan Officers and Processing Teams
• Respond promptly to Circle of Excellence Loan Officers
Miscellaneous
• Update and maintain knowledge of loan products and related Investor Guidelines
• Train and provide mentoring to Jr. Underwriters
• Notify QC of integrity issues
• Review exceptions and assist in clearing or resolving issues
• Maintain contact with internal and external customers on loan status and Conditions
• Work planning
• Ensure compliance with Company Policies
• Demonstrate and encourage integrity and alignment with Company Vision, Mission and Values
• Other duties as assigned
III. Knowledge, Skills, and Ability:  These are considered to be Essential Job Functions (EJF).

• Competent risk-assessment skills
• Knowledge of mortgage processing documents, procedures and practices
• Knowledge of underwriting and Investor Guidelines
• Customer service skills
• Negotiation skills
• Stress management skills
• Creative problem solving skills and conflict resolution skills
• Relationship building skills; training and mentoring skills
• PC Skills (MS Office, LOS, automated underwriting system)
• Analytical and mathematical skills and applications
• Strong communication skills (verbal, written, listening)
• Attention to detail; multi-tasking skills; excellent time-management skills
• Ability to work independently with minimal supervision
• Flexibility and adaptability in a fluid and rapidly changing environment
• Willingness to do more than basic job requirements as needed

IV. Education, Training and Experience Required: 

a. Special courses/licenses needed:

b. Formal education required.  
 High School diploma or GED for basic analytical and math skills
 
c. Prior experience needed:
 Minimum 2-3 years experience as Jr. Underwriter/ Sr. Processor
 Minimum 10+ years experience as an Underwriter