MUST HAVE GOVERNMENT UNDERWRITING EXPERIENCE!!
The Underwriter plays an important role in the organization by performing a number of activities related to the company’s retail operations functions and general business operations of MMS. The role is primarily responsible, under intermittent supervision, for underwriting conventional, FHA, and VA loans according to company, secondary market investor, and government agency standards. This includes exercising discretion and independent judgement ensuring all tax, title, insurance, and closing documentation associated with the loan applications are accurate and complete, and approving or denying loan applications based on compliance with underwriting standards and risk management factors.
Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
- Review and evaluate loan documents to ensure accuracy, completeness, and compliance with company standards, federal and agency standards and guidelines, as well as any applicable state-specific and or local regulations, ordinances, etc.
- Analyze customer’s loan-to-value ratio, debt-to-income ratio, credit report, application, income and assets, source(s) of down payment funds, and supporting documentation to identify potential fraud or misrepresentation.
- Review appraisals to ensure that loans meet secondary market, investor, and company standards.
- Work with Mortgage Loan Processors, Mortgage Loan Closers and Loan Officers on collecting information and documentation necessary to finalize incomplete loan packages.
- Determine if additional documentation or information would aid loan decision; request additional documentation or information accordingly.
- Provide options and recommendations to borrowers regarding suitable loan programs.
- Stay abreast of current regulations and industry trends that affect compliance and decision-making.
- Verify that system input is accurate and that company systems match Automated Underwriting System (AUS).
- Perform other duties as assigned.
- Maintains basic working knowledge of MMS’s products and services.
- Maintain a professional, friendly and helpful relationship with all staff and members.
- Performs all essential job functions and responsibilities in a timely and professional manner.
- Observes all MMS guidelines and policies.
- Performs all other projects and duties as assigned.
Required Education and Experience
- High school diploma or equivalent required; college courses/technical training related to Business, Finance/Accounting, Legal, or related field is preferred, along with total recent work experience that includes three or more years underwriting conventional loans.
- Detailed knowledge of overall mortgage lending processes, including underwriting, funding, and loan processing.
- Detailed knowledge of valid documentation related to the processing consumer mortgage applications (e.g., tax returns, financial statements and records, verification of income and deposits, etc.).
- Detailed knowledge of underwriting and regulatory requirements; detailed knowledge of federal, state, and regulatory requirements/guidelines related to consumer mortgage lending and internal processes and controls.
- Ability to think critically, including the ability to evaluate facts and data to draw conclusions, and determine the downstream impact of decisions and associated risks.
- Ability to prioritize multiple tasks in a deadline-driven environment; strong sense of urgency and responsiveness.
- Intermediate math skills.
- Strong verbal and written communication skills.
- Strong detail orientation and highly organized.
- Prior experience using internal data entry systems, Microsoft Word, Excel and PDF/Document Retention programs.
This job operates in a professional office environment. This role routinely uses standard office equipment such as computers, phones, photocopiers, filing cabinets and fax machines.
While performing the duties of this job, the employee is regularly required to, stand, sit, talk, hear, and use hands and fingers to operate a computer and telephone keyboard reach. Light to moderate lifting is occasionally required. The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job.
This job description is designed to provide a general overview of the requirements of the job and does not entail a comprehensive listing of all activities, duties, or responsibilities that will be required in this position.
Job Type: Full-time
- Government Underwriting: 2 years (Required)