Job Purpose:
Review mortgage loan files to asses risk and compliance with agency and investor underwriting guidelines.
Duties & Responsibilities:
- Collect and analyze loan documentation to calculate risk and credit worthiness for residential mortgages.
- Review, update and run automated underwriting systems to determine risk, salability and reduced documentation for borrowers and review of data accuracy as input in Encompass LP and DU
- Review appraisal to verify that it meets investor /insurer requirements and contact appraiser to obtain clarification of the appraisal when necessary.
- Submit qualifying loan submission to investor /insurer for final approval
- Act on loans awaiting closing by reviewing and clearing conditions of commitment, pull and analyze credit.
- Deny loan applications that do not meet applicable investor/insurer underwriting criteria by issuing adverse action letter in accordance with ECOA
- Reconsider any previously denied application at request of borrower, realtor, loan originator or management
- Provide clear, concise and appropriate conditioning of loans when rendering decisions.
- Mentor processing staff on underwriting deficiencies and calculation errors.
- Keep management informed of specific ongoing issues that require immediate attention.
- Provide client support for general questions or problem resolution via phone and e mail interaction.
- Coordinate with Post-Closing department on any stipulations for closed files.
