This position is responsible for analyzing and evaluating consumer home loan applications as well as the supporting documentation to assess Borrower’s credit worthiness. Types of consumer loan applications include, but are not limited to Conventional, Jumbo, FHA, VA and USDA residential first mortgages. Must be able to recommend approval or denial of credit applications, and provide written and verbal decision and documentation to support the lending decision.
Perform mortgage credit analysis, with or without the assistance of an automated underwriting system to determine Borrower’s willingness and ability to repay the mortgage debt.
Knowledge of FNMA, and FMLMC documentation and general guidelines/standards. Experience with FHA, VA and USDA is preferred, but not required.
Validate loan application and supporting documentation, and verify system of record reflects correct information. Update system of record when required.
Review and validate: income, asset, credit, title, value and fraud reports.
Ensure all required property information is in system.
Look over all loans to substantiate that they meet Plaza’s underwriting guidelines.
Pull credit report as required.
Confirm government required documents are complete and accurate.
Review title information, and purchase contract, if applicable.
Run and review quality control tools – i.e. Fraud Guard and Early Check.
Run, review and interpret DU/LP/GUS/Total Score Card, when applicable.
Document system with all dates and information.
Certify system data integrity.
May underwrite one or all of the following loan types: Conventional, Jumbo, FHA, FHA 203k, VA, and USDA based on lending authority levels (underwritten loans must meet all quality standards established by Plaza, Fannie Mae, Freddie Mac, FHA, VA and USDA).
Maintain production standard goals as established by management.
Ability to act as FHA DE and/or VA Automatic and SAR Underwriter; if not, should be pursuing these designations (based on lending authority level).
Order and review MI based on loan program. Ensure that system of record matches MI certificate.
Approve/deny loans, and update the system.
Reunderwrite loans when additional information has been received.
May be asked to second sign loan decisions for lower level authority underwriters.
May occasionally be required to provide training for and mentoring of Junior Underwriters and newly hired Senior Underwriters.
Answer and research general underwriting scenario and guideline questions via email and phone.
Complete all required underwriting, worksheet and checklists - i.e. Income Worksheet, QM/ATR checklist.
Assist in resolving branch post closing suspense issues.
Must be able to evaluate and analyze complex income tax returns to establish qualifying income.
Other duties as assigned.
High school diploma or equivalent required; College degree preferred
Recent Underwriting experience in the mortgage industry is a must
Experience with (AUS) automated underwriting systems
Working knowledge of loan program products and services, and policies essential
Thorough grasp of state and federal regulations is required as well as a solid understanding of: HMDA, Regulation Z, Regulation B; the FHLMC, FNMA, FHA rules and processes
Experience with Loan Origination Systems such as DataTrac and NetOxygen
Knowledge of paperless file environment and image software repository
Proficiency with computer systems including MS Office (Word, Excel, and Outlook), Internet Browsers, and email functions required
Genuine commitment to customer service
Solid organizational and problem solving skills
Proven aptitude to work in both a team and individual environment