Job Title: ____ Underwriter III Name: Dept: ___Underwriting Location: __ FLSA: Non-Exempt I. Major Functions: Responsible for underwriting salable and ethical loans. Extreme Knowledge in VA and FHA guidelines.
· Compliance with Investor Guidelines· Signing authority up to $625,000 II. Duties and Responsibilities: Essential Job Functions (EJF) are noted with an “X” in the column labeled EJF. EJF | DUTIES/TASKS (Be Specific) | FREQUENCY | % of Time |
| X | Underwriting - Underwrite ethical and salable loans
- Evaluate risk and ensure quality of each loan
- Conduct reasonableness tests at each step of the process
- Exercise judgment about ratios and Guideline compliance in light of other off-setting circumstances
- Identify loans for exceptions
- Work with Mortgage Banking and Secondary Markets to resolve Conditions
- Approve loans or return file
- Determine other methods/documentation to meet Investor Guidelines
- Establish Conditions to meet Investor Guidelines
- Negotiate with Investors and Loan Officers
- Analyze counter-offers for compliance and acceptability
- Monitor and track Conditions for compliance with Underwriter Guidelines
- Monitor status of all Conditions
- Order PMI
- Clear Conditions that are within scope of job
- Determine accuracy and completeness of underwritten loans for compliance with specified Investor Guidelines
- Review and evaluate credit packages
- Review and evaluate appraisals
- Review and evaluate Asset documentation
- Review and evaluate condo-documentation
| Daily | 70% |
| X | Loan Officers - Work with Loan Officers to restructure a problematic loan
- Recommend alternative products/Investors
- Develop and maintain relationships with Loan Officers and Processing Teams
- Respond promptly to Circle of Excellence Loan Officers
| Daily | 20% |
| X | 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
| Daily | 10% |
Total = 100% II a. Physical and sensory demands: EJF | ACTIVITY | PHYSICAL/MENTAL REQUIREMENTS | FREQ | % of TIME |
| X | Hand/eye coordination, sitting, standing | Operate office equipment; | Daily | 95% |
| X | Speaking, listening, writing | Talking with co-workers and branch operations to communicate and gather information | Daily | 95% |
| X | Critical thinking and comprehension skills | Evaluation and analysis of loan package for compliance with Investor Guidelines; data integration of multiple aspects of Investor Guidelines; exercise good judgment; interpret and understand discussions and instructions; intrinsic motivation; ability to learn and utilize new information, systems, processes, etc.; thinking and creative problem solving skills; ability to read and understand Investor Guidelines, origination documents, manuals | Daily | 95% |
| | Bending, lifting | Files, boxes of up to 5 lbs in weight. | Daily | 5% |
II b. Working environment: DESCRIPTION OF WORK ENVIRONMENT OR HAZARD | FREQ | % of Time |
| Heated, A/C office | Daily | 100% |
Travel: Indicate amount of time spent traveling and typical means of transportation used (driving, flying, etc.): ___N/A_____% 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. ProcessorMinimum 5-10 years experience as an Underwriter d. How many weeks, months, or years of experience is required to do the job satisfactorily (both on-the-job and prior experience):5 years
Job Title: ____ Underwriter III Name: Dept: ___Underwriting Location: __ FLSA: Non-Exempt I. Major Functions: Responsible for underwriting salable and ethical loans. Extreme Knowledge in VA and FHA guidelines.
· Compliance with Investor Guidelines· Signing authority up to $625,000 II. Duties and Responsibilities: Essential Job Functions (EJF) are noted with an “X” in the column labeled EJF. EJF | DUTIES/TASKS (Be Specific) | FREQUENCY | % of Time |
| X | Underwriting - Underwrite ethical and salable loans
- Evaluate risk and ensure quality of each loan
- Conduct reasonableness tests at each step of the process
- Exercise judgment about ratios and Guideline compliance in light of other off-setting circumstances
- Identify loans for exceptions
- Work with Mortgage Banking and Secondary Markets to resolve Conditions
- Approve loans or return file
- Determine other methods/documentation to meet Investor Guidelines
- Establish Conditions to meet Investor Guidelines
- Negotiate with Investors and Loan Officers
- Analyze counter-offers for compliance and acceptability
- Monitor and track Conditions for compliance with Underwriter Guidelines
- Monitor status of all Conditions
- Order PMI
- Clear Conditions that are within scope of job
- Determine accuracy and completeness of underwritten loans for compliance with specified Investor Guidelines
- Review and evaluate credit packages
- Review and evaluate appraisals
- Review and evaluate Asset documentation
- Review and evaluate condo-documentation
| Daily | 70% |
| X | Loan Officers - Work with Loan Officers to restructure a problematic loan
- Recommend alternative products/Investors
- Develop and maintain relationships with Loan Officers and Processing Teams
- Respond promptly to Circle of Excellence Loan Officers
| Daily | 20% |
| X | 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
| Daily | 10% |
Total = 100% II a. Physical and sensory demands: EJF | ACTIVITY | PHYSICAL/MENTAL REQUIREMENTS | FREQ | % of TIME |
| X | Hand/eye coordination, sitting, standing | Operate office equipment; | Daily | 95% |
| X | Speaking, listening, writing | Talking with co-workers and branch operations to communicate and gather information | Daily | 95% |
| X | Critical thinking and comprehension skills | Evaluation and analysis of loan package for compliance with Investor Guidelines; data integration of multiple aspects of Investor Guidelines; exercise good judgment; interpret and understand discussions and instructions; intrinsic motivation; ability to learn and utilize new information, systems, processes, etc.; thinking and creative problem solving skills; ability to read and understand Investor Guidelines, origination documents, manuals | Daily | 95% |
| | Bending, lifting | Files, boxes of up to 5 lbs in weight. | Daily | 5% |
II b. Working environment: DESCRIPTION OF WORK ENVIRONMENT OR HAZARD | FREQ | % of Time |
| Heated, A/C office | Daily | 100% |
Travel: Indicate amount of time spent traveling and typical means of transportation used (driving, flying, etc.): ___N/A_____% 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. ProcessorMinimum 5-10 years experience as an Underwriter d. How many weeks, months, or years of experience is required to do the job satisfactorily (both on-the-job and prior experience):5 years
