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Mortgage Underwriter

Location: Remote

Job Description

 

Job Title:              Underwriter

Department:      Operations / Underwriting

Exemption:         Non-Exempt

Reports To:         National Underwriting Manager

 

Position Overview:

Subject to the ultimate supervision, direction and control of Company, the Underwriter will be responsible for underwriting Conventional and Government residential loans, ensuring compliance with internal and agency program guidelines and meeting or exceeding quality assurance standards. DE and or LAPP designations preferred.

Primary Duties & Responsibilities:

  • Meet quality underwriting standards/benchmarks as established by senior management
  • Help prepare responses to agency or internal audits for submission to the National Underwriting Manager for review and approval.
  • Maintain familiarity with the company’s loan processing system.
  • Assist with all other special tasks or projects as directed by management.
  • Meet minimal daily production as established by the National Underwriting Manager.
  • Review and analyze credit/income/asset documentation submitted to make a sound determination of creditworthiness per guidelines using department approved checklists and worksheets.
  • Ensure that property appraisals meet standard secondary market investor requirements.
  • Offer alternative financing on eligible loans that cannot be approved as submitted.
  • Issue appropriate Approval/Pend/Denial Notifications in the origination system per RESPA standards and company policy.
  • Notify Loan Officers/Branch Managers of denials and pends via email.
  • Review and analyze all credit/income/asset documentation submitted to make a sound determination of creditworthiness per guidelines using department approved checklists and worksheets.
  • Ensure that property appraisals meet HUD/VA requirements per guidelines.
  • Approve VA appraisals (if LAPP approved) using the Checklist for VA Appraisals and per VA guidelines. Issue the Lenders Notice of Value (LNOV) through LAPP.
  • Offer alternative financing on eligible loans that are unable to be approved as submitted.
  • Issue appropriate Approval/Pend/Denial Notifications in the origination system per RESPA standards and company policy.
  • Notify Loan Officers/Branch Managers of denials and pends via email.
  • Keep up to date on agency guidelines (FNMA, FHLMC, FHA, VA and USDA).
  • Keep up to date on investor overlays via AllRegs and Internal guidance
  • Ensure all specifics of RSMC’s internal overlays are adhered to.
  • Act as a liaison with Secondary Marketing and the branches with regard to offering alternative programs on loans that are deemed ineligible as initially submitted.
  • Keep up to date on internal underwriting procedures.
  • Keep up to date on other market updates or changes.
  • Attend industry education classes as assigned by the National Underwriting Manager.
  • Use approved automated underwriting systems (LP/DU) daily in the underwriting process.
  • Maintain familiarity with all aspects of the automated underwriting systems and how they affect loan approval decisions.
  • Apply feedback from the AUS for use in the underwriting process.
  • Communicate approvals, declines, and pends to branches, Loan Officers and Branch Managers via phone.
  • Relay to the Loan Officers and Loan Processors errors in files or areas that could use improvement.
  • Follow RSMC Denial Underwriting Procedure
  • Other duties and responsibilities as required; management may assign or reassign duties and responsibilities to this position at any time

 

Competency Requirements:

  • Relationships – We care about the people we serve. Establishes rapport and trust with people easily, developing and maintaining a network of contacts that can provide information, help and access to others; demonstrates personal integrity, honesty and sincerity.
  • Expertise – Our people are experts in the field. Acquires and utilizes technical and professional knowledge, skills and judgement to accomplish results and serve customers effectively.
  • Problem-solving. We have the know-how and resourcefulness to make it happen. Identifies problems and uses logic, judgment, and data to evaluate alternatives and recommend solutions to achieve the desired organizational goal or outcome.
  • Unity. We’re all in this together. Willingly cooperates and works collaboratively towards solutions that generally benefit all involved parties and accomplish group objectives.
  • Balance. We want our people to live rich, balanced lives. Maintains perspective; manages boundaries effectively; organizes and prioritizes work; manages life flexibly, being open to change; uses technology wisely; makes effective lifestyle and self-change strategies; manages expectations, being clear about what can(not) deliver.
  • Listening. By being great listeners, we can find the right solution to fit your needs. Chooses a communication behavior appropriate and effective for a given situation; conveys thoughts and expresses ideas effectively through verbal and written communication; demonstrates effective, active listening.
  • Integrity. Do the right thing, in the right way, at the right time. Demonstrates honesty, keeps commitments, behaves in a consistent manner.
  • Commitment. We give you our word. Adheres to the team’s expectations and guidelines; fulfills individual and team responsibilities; acts promptly; takes opportunities to exceed expectations without making unreasonable commitments; keep commitments to follow up with customers, providing solutions that are fair and in keeping with the Company’s mission and policies; responds quickly to customer needs and resolves problems; avoids over-commitments

 

Education & Experience Qualifications:

  • Bachelor’s degree in business or related field from an accredited institution preferred or an equivalent combination of experience and education; high school diploma required
  • A minimum of 2 years underwriting Conventional and Government loans including the ability to analyze complicated self-employed borrowers tax returns and financial statements
  • D.E. and or LAPP designation for a minimum of 2 years
  • Consistently acceptable QA results
  • Strong overall computer skills (i.e., MS Office, automated underwriting systems)
  • Must have excellent verbal and written communication skills
  • Must have excellent organizational and team-building skills
  • Must have demonstrated judgment and decision-making ability and be detail-oriented
  • Must have ability to work remote and have adequate internet service and work space
  • Must have comprehensive knowledge of mortgage loan underwriting and agency and investor guidelines and requirements, and ability to apply them in fast-paced environment
  • Must have demonstrated PC proficiency, including knowledge of Microsoft Excel and Word

Equal Opportunity:

Republic State Mortgage Company is committed to creating a diverse environment and is proud to be an Equal Opportunity Employer, dedicated to a policy of non-discrimination and non-harassment. All qualified applicants will receive consideration for employment without regard to any federal, state or locally protected class, including, but not limited to, race, color, religion, gender, gender identity or expression, pregnancy, sexual orientation, national origin, genetics, disability, age or veteran status.




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