Position Summary: The Underwriter is primarily responsible for the underwriting and credit decisions of residential mortgage applications secured by real property.
Requirements for position
- A minimum of five (5) years experience in underwriting residential mortgages.
- Designations including: Fannie Mae (DU), Freddie Mac (LPA), FHA (DE), VA (LAPP), USDA, Non-Agency Jumbo, Construction, FHA 203(K), State Bond Loans and .
- Knowledge of Encompass or similar Windows based LOS is highly desired.
- Perform detailed quality work within deadlines with minimal direct supervision.
Underwriting Credit Limit: $1,000,000.00, delegated non-conforming loans over $1,000,000.00 require Underwriting Manager second signature.
Essential functions and responsibilities
With a high degree of competence and little direct supervision, able to:
- Underwrite credit and appraisals for conventional conforming and high balance FNMA/FHLMC loans.
- Underwrite credit and appraisals for government conforming and high balance loans including FHA, VA and USDA loans.
- Underwrite credit and appraisals for Delegated Non Agency Loans.
- Underwrite Specialty Loans such as Construction, Bridge Loans, FHA 203K and State Bond loans
- Ability to assess and determine applicant(s) ability to meet credit obligations and successfully repay mortgage debt.
- Analyze Agency, Investor and Corridor credit policies and guidelines to ensure sustainable lending practices.
- Apply clear underwriting conditions and review documents submitted to satisfy those conditions.
- Balance work flow and time management efficiently to maximize the number of quality loans underwritten each month.
- Other duties as assigned by management.
Other Success Factors
- Strong interpersonal and communication skills are required.
- Maintain a vested interest in all relevant areas of the mortgage industry.
- Work independently while being part of a cohesive team, understanding the necessity to communicate and coordinate work efforts with other employees and organizations.
- Regularly contribute to team/department meetings where you will be asked to share and receive best practice coaching allowing for a consistent underwriting experience throughout the company.
- Computer proficiency with all company provided software including Microsoft Office, Encompass, Optimal Blue and other software that may be required to complete your duties.
Physical Requirements and Work Environment
The physical requirements and work environment characteristics described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
- Physical requirements: While performing the duties of this job, the employee is occasionally required to walk, use hands and arms to operate office equipment, talk, and hear. Prolonged periods of sitting may be required. Employee must occasionally lift and/or move up to 10 pounds. Specific vision abilities required by the job include close vision and the ability to adjust focus.
- Work environment: While performing the duties of this job, the employee is exposed to general office conditions. The noise level in the work environment is usually minimal.
This job description does not list all the duties of the job. You may be asked by management to perform other instructions and duties. You will be evaluated in part based upon your performance of the tasks listed in this job description. Senior management has the right to revise this job description at any time. The job description is not a contract for employment, and is not intended to change or modify the at-will nature of your employment.