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Form of workJob Description
OVERVIEW
The role of Mortgage Underwriter is responsible for the underwriting and loan decision of an array of loan products offered by the Real Estate Lending team, including conventional, Jumbo, portfolio, and home equity loans and lines of credit.
DUTIES AND RESPONSIBILITIES
This position will require a minimum of 3 days per week on-site at our Chelmsford, MA office and other days will be flexible to work off-site. #LI-Hybrid
- Analyze information to determine risk involved in mortgage loan applications.
- Responsible for entire loan application file - verifying income, assets, credit, title, appraisal and other valuation models, and all other supporting documentation in loan file adheres to FNMA guidelines and USALLIANCE Overlays.
- Keep current on regulations, policies, GSE guidelines, and USALLIANCE process and procedures.
- Analyze the Automated Underwriting System (AUS) during review and update the file as applicable.
- Review appraisal and other valuation models to ensure value of collateral is sufficiently documented.
- Decision both initial underwrites and conditions within posted turn times.
- Meet production expectations for initial file review, condition reviews, and final approval.
- Work with leadership to provide direction and guidance to processing staff for documentation and processing quality.
- Communicate loan requirements effectively, be able to cite guidance, provide reasoning to support decisions, and respond timely to internal team members, leadership, members, or brokers.
SKILLS, KNOWLEDGE, AND REQUIREMENTS:
Salary: $28/hr - $35
- 5 years mortgage loan experience with a minimum of 3 years underwriting experience.
- Thorough understanding of mortgage loan underwriting functions, including review and analysis of appraisals.
- In-depth knowledge of mortgage related requirements, procedures, & underwriting criteria.
- Excellent verbal and written communication skills, including meeting internal and external service level agreements.
- Strong organizational skills and ability to meet deadlines and prioritize competing tasks.
- Thorough knowledge of FNMA underwriting guidelines, Desktop Underwriter, and Collateral Underwriter.
- Ability to research and render decisions based on most recent guidance and overlays.
- 1 year of experience in using Encompass loan software.
- Requires successful registration with, and issuance of a unique identification number from, the Nationwide Mortgage Licensing System (NMLS) in compliance with the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (S.A.F.E. Act)
This job description is for informational purposes only and should not be construed as a complete listing of the job responsibilities and requirements. This job description may be modified at any time, for any reason, at the sole discretion of management.
