Plaza Home Mortgage, Inc., a national mortgage company headquartered in San Diego, California, has an excellent opportunity for a Sr. Underwriter at our Chicago, IL (ORD) Branch office.
Plaza Home Mortgage, Inc. was originally founded in December of 2000 to serve the San Diego area mortgage market. Due to our growth and success, we now have branches throughout the United States and we are continuing to grow and expand in anticipation of market demands. Plaza is privately owned and operates as a full service Mortgage Banker. We originate mortgage loans on both a wholesale and correspondent basis.
Our ideal candidate should be outgoing, hardworking, and maintain high levels of professionalism and ethics.
PRIMARY PURPOSE OF JOB AND CONTRIBUTION TO ORGANIZATION:
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. Senior Underwriters will be assigned Lending Authority levels by Corp Underwriting. Levels are III - V.
ESSENTIAL TASKS AND RESPONSIBILITIES:
Must comply with all BSA/AML requirements as well as any mandatory changes. The following job functions are not all-inclusive. The associate will be required to perform other job-related tasks/responsibilities requested by the manager. Job duties may change as required by needs of company. Must complete all required industry and compliance training as required by Plaza Home Mortgage.
1. 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.
2. Knowledge of FNMA, and FMLMC documentation and general guidelines/standards. Experience with FHA, VA and USDA is preferred, but not required.
3. Validate loan application and supporting documentation, and verify system of record reflects correct information. Update system of record when required.
4. Review and validate: income, asset, credit, title, value and fraud reports.
5. Ensure all required property information is in system.
6. Look over all loans to substantiate that they meet Plaza’s underwriting guidelines.
7. Pull credit report as required.
8. Confirm government required documents are complete and accurate.
9. Review title information, and purchase contract, if applicable.
10. Run and review quality control tools – i.e. FraudGuard and Early Check.
11. Run, review and interpret DU/LP/GUS/TotalScoreCard, when applicable.
12. Document system with all dates and information.
13. Certify system data integrity.
14. 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).
15. Maintain production standard goals as established by management.
16. 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).
17. Order and review MI based on loan program. Ensure that system of record matches MI certificate. 18. Approve/deny loans, and update the system accordingly with P.A.C.E comments.
19. Reunderwrite loans when additional information has been received.
20. May be asked to second sign loan decisions for lower level authority underwriters.
21. May occasionally be required to provide training for and mentoring of Junior Underwriters and newly hired Senior Underwriters.
22. Answer and research general underwriting scenario and guideline questions via email and phone.
23. Complete all required underwriting, worksheet and checklists - i.e. Income Worksheet, QM/ATR checklist.
24. Assist in resolving branch post closing suspense issues.
25. Must be able to evaluate and analyze complex income tax returns to establish qualifying income.
26. 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
- Interactive Communication
* Results Management
Plaza offers a great work environment. Plaza is an EEOC Employer and follows all federal, state and local laws relating to fair employment.
Plaza Home Mortgage, Inc. is committed to preventing, stopping and remedying all forms of discrimination that occurs in its workplace. Managers are accountable for keeping Plaza’s work place free from discrimination and ensuring that Plaza provides equal employment opportunity for all in the workforce and for those seeking to become members of Plaza’s workforce.
Plaza’s employees are protected by laws designed to protect employees from discrimination on the bases of race, religion, color, sex, pregnancy, gender identity, sexual orientation, parental status, national origin, age, disability, family medical history or genetic information, political affiliation, military service, or any other non-merit based factor. These protections extend to all management: practices, and decisions, including recruitment and hiring practices, appraisal systems, promotions, and training and career development programs. Plaza’s employees are also protected against retaliation if they engage in a protected activity, whistle blowing, or the exercise of any appeal or grievance right provided by law.
Job Type: Full-time
- Mortgage: 3 years (Required)
- Loan Origination Systems: 3 years (Required)
- Ability to act as FHA DE and/or VA Automatic and SAR UW: 3 years (Preferred)
- Underwriting: 3 years (Required)
- FNMA and FMLMC: 3 years (Required)
- FHA, VA and USDA: 3 years (Preferred)
- Health insurance
- Dental insurance
- Vision insurance
- Retirement plan
- Paid time off
- Professional development assistance