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SalaryJob Title:Senior Government Mortgage Underwriter
Reports to: Group Leader or Mortgage Loan CRA & Government Manager
Direct Reports: N/A
Reports to: Group Leader or Mortgage Loan CRA & Government Manager
Direct Reports: N/A
Salary Grade: 10
SUMMARY
This position is responsible for underwriting residential loans ensuring compliance with appropriate company, secondary market investor standards and all applicable laws. The Underwriter will be responsible for examining loan documentation for accuracy and completeness; is involved in one or several types of mortgage lending including but not limited to conventional, FHA, VA, and USDA loans. Must be able to underwrite loans within the company and industry guidelines. The Underwriter will also be working with Loan Originators, Branch Managers and Processors to secure all required documents.
EDUCATION AND EXPERIENCE REQUIREMENTS
- Minimum 5-7 years of recent government underwriting experience required.
- Underwrite FHA and VA loans by having active government designation (DE/Sar/Lapp) required.
- Underwrite various other types of loans including Conventional, Bond, USDA, Jumbo, Non-QM, and Construction.
- Ability to analyze complex personal and business returns/financials, P&L, and cash flow, gather relevant information and make appropriate recommendations.
- Strong analytical skills with a focus on finding solutions.
- Identify strengths, weaknesses, and mitigating factors for assigned loan files.
- Ability to structure loans appropriately for sale on the secondary market.
- Extensive knowledge of secondary market (Fannie/Freddie) guidelines.
- Ability to assume responsibility for loan decisions and maintain accountability for decisions made.
- Good personal organization and time management skills with ability to multi-task.
- Strong written and verbal commination skills – must be able to clearly and effectively communicate loan decisions to originators, processors, auditors, and others.
- Detailed- oriented, self-starter with ability to work with other underwriters to accomplish and support department goals.
- Encompass experience preferred.
- Participate in all required compliance training, including Bank Secrecy Act/anti-money laundering training, as well as internal and external training programs, online training, meetings, and seminars/conferences, etc.
JOB FUNCTIONS
- Underwrites Conventional, FHA, VA, USDA, Portfolio and Special Program loans to verify for completeness, accuracy, and compliance.
- Develops and maintains an up to date and sound knowledge of multiple loan product guidelines offered by the company, DU/LP guidelines, and risk assessment tools used to decision mortgage loans.
- Demonstrates proficiency in automated underwriting systems (DU, LP).
- Reworks loans to new terms, identifies additional conditions as needed to ensure a viable credit decision is made.
- Reviews and evaluates borrower(s) profile including but not limited to all income documentation, tax returns, assets, credit documentation, fraud reports, and collateral docs, including appraisals.
- Analyzes and calculates complex income documentation such as personal and business income statements and ensures all necessary documentation is requested to support final loan decisions.
- Maintains a sound knowledge of secondary market activity, practices, and business/industry practices as they impact underwriting quality and origination activity.
- Maintains pre-established service level standard of decisions timeframes set by the company with minimal supervision.
- Ability to function in an ever-changing environment underwrite a variety of loan types with speed and accuracy.
- Communicates regularly with the sales team, processors, management and others as needed.
- Assist management with training of new underwriters.
- Provide feedback to the underwriting manager on challenges and assist in implementing solutions.
- Assists in the preparation of repurchase responses and/or rebuttal reviews.
- Assist in underwriting difficult loans with other underwriters.
- Ability to sign off on or override other underwriter’s conditions.
SUPERVISORY RESPONSIBILITY
None
WORK ENVIRONMENT
United location
POSITION TYPE
This is a full-time position that requires schedule flexibility to work evenings and weekends as needed.
TRAVEL
This position requires up to 5% travel.
OTHER
We are an Equal Opportunity Employer and do not discriminate against any employee or applicant for employment because of race, color, sex, age, national origin, religion, sexual orientation, gender identity and/or expression, status as a veteran, and basis of disability or any other federal, state or local protected class.
Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
The job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee. Other duties, responsibilities and activities may change or be assigned at any time with or without notice.
