United States onlyPosition Summary
The Mortgage Underwriter reviews, evaluates, and accepts/denies mortgage loan files using the internal Underwriting Standards, as well as general FNMA, FHLMC and government underwriting guidelines, to determine creditworthiness of the applicant and collateral.
The following duties are intended to provide a representative summary of the major duties and responsibilities and ARE NOT intended to serve as a comprehensive list of all duties performed by all employees in this classification. Incumbent(s) may not be required to perform all duties listed and may be required to perform additional duties.
Essential Duties and Responsibilities
- Screen loan applications to determine the appropriate funding source and program is submitted.
- Calculate income for all types of borrowers, review complex tax returns and financial statements, analyze various sources of funds, and establish general creditworthiness of potential borrowers.
- Review information provided in loan package. Requests additional information as required.
- Evaluate risk as it relates to borrowers, collateral, and transactions.
- Provide final approval underwriting of conventional, and government mortgage loans including lease holds, construction, non-owner occupied, condominiums, mortgage insurance secured, and higher risk loans.
- Underwrite credit, capacity, and collateral in accordance with established policies and procedures.
- Complete all required paperwork and forms in a timely and accurate manner.
- Provides effective and timely communications with management and staff to meet deadlines.
- Maintain record, files, e-folder, and database.
- Follow applicable state & federal laws and regulations.
- Comply with company, FNMA, FHLMC, HUD, VA and industry standard rules and guidelines.
- Other duties as assigned.
Qualifications
Education
- High School Diploma or equivalent.
- Bachelor’s degree in a related field preferred but not required.
Experience
- Three years of underwriting experience preferred.
- Related military education/experience may be used as a substitute for education or work experience.
Licenses & Certifications
- VA Staff Appraisal Reviewer (SAR) & underwriting authority.
- Valid FHA Computerized Homes Underwriting Management System (CHUMS) number and DE underwriting authority
- HUD 184 underwriting authority
Knowledge & Communication Skills
- Excellent written and oral communication skills.
- Exhibit objectivity and openness to others’ views. Contribute to building a positive team spirit and put success of team above own interests.
- Work with integrity and ethically, and upholds organizational values. Approach others in a tactful manner.
Analytical & Decision Making Skills
- Exhibit sound and accurate judgement. Support and explain reasoning for decisions, and include appropriate people in decision-making process.
- Demonstrate accuracy and thoroughness. Look for ways to improve and promote quality.
- Able to deal with frequent changes, delays, or unexpected events. Change approach or method to best fit the situation.
- Ability to work under pressure. Follow through on commitments, and accept responsibility for own actions.
- Follow instructions, and responds to management direction.
Computer/Software/Other Equipment Skills
- Intermediate knowledge of MS Office Suite, including Word, Excel, PowerPoint, and Outlook. Ability to operate standard office equipment such as PC, printer, fax/copier, and telephone.
Working Conditions
- The noise level in the work environment is usually moderate.
- Work is performed in a professional office environment.
