Correspondent Underwriter III                                                            
           
Responsible for providing Account Executives and QAA staff guidelines to ensure Prospect is purchasing quality loans that are salable to the secondary market. In addition, responsibilities include:
 

• Compliance with Investor, Agency, FHA, VA Guidelines
• Relationship building with sales and operations
• Resolve challenges on non-salable loans so loans can be purchased by alternate investors
• Loan approval authority
• Signing authority up to agency loan limits

 
 
 

	Underwriting Completes loan scenario’s for eligibility and salability 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 Review and ensure documentation meets Investor / Prospect Guidelines Establish Suspense Conditions to meet Investor Guidelines Problem solving with Account Executives Review all loans escalated by Correspondent QA Associates for exceptions and suspense / denial Monitor and track Suspense Conditions for compliance with Underwriter Guidelines Enter Suspense Conditions Monitor status of all Suspense Conditions Clear Suspense Conditions that are within scope of job Double-check the 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 Review and evaluate income documentation Review and evaluate 203K specific documentation Review and evaluate FHA / VA loans for insurability
X	Account Executives Work with Account Executives to structure problematic loans Recommend alternative products/structures Develop and maintain relationships with Account Executives, QAAs, openers, and secondary teams
	Update and maintain knowledge of loan products and related Investor Guidelines Train and provide mentoring to QA Associates 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 Responding to QC reviews Responding to Investor Deficiencies Responding to all emails daily Working directly with Correspondent Leader and Secondary Marketing for exception, affordability

                                                                                                                                               
 

• 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

 
Minimum 2-3 years’ experience as Jr. Underwriter/ Sr. Processor
Minimum 5-10 years’ experience as an Underwriter