Mortgage Underwriter

Tempe, AZ
Mortgage
Full-time

The purpose of the Loan Underwriter position is to clear home mortgage loans for closing once a thorough analysis and underwrite of the submission is completed and meets industry, company and product requirements. Loan Underwriters must have an in-depth and current knowledge of federal and other regulatory standards needed to analyze a borrower’s financial position and other property related risks associated with the loan in order to make an appropriate decision.

Responsibilities

    • Review Loan Submissions
    • Thoroughly evaluate borrower income relative to financial obligations, adequacy of credit quality and history, the source of funds, the security of the subject property, the loan terms, and ratios
    • Ensure that all required items are provided, validated/verified, and meet the program guidelines
    • Ensure accuracy of loan disclosures and documentation
    • Calculate Loan to Value (LTV) and other ratios accordingly
    • Run the file through Automated Underwriting Systems (AUS), such as DU/LP, when applicable
    • Review the application and information in the Loan Origination Software (LOS) for accuracy
    • Communicate and Review Conditions as Needed
    • Request items necessary to complete the submission or to qualify for the program
    • Review and clear conditions as received
    • Provide explanation to the Mortgage Loan Originator and/or Branch Manager in the case where a loan requires restructuring
    • Update LOS Appropriately
    • Ensure that all relevant and necessary information needed is communicated and provided properly through the LOS including, but not limited to: Loan approval date, conversation logs, appraisal information, HMDA and Credit information, conditions, worksheets, MI, FHA, and VA when applicable, suspense, denial, and incomplete dates and milestones as appropriate, etc
    • Provide Decision on Submissions
    • Approve loans in accordance with appropriate terms, conditions, counter-offers if the term does not meet company lending standards and guidelines, and industry standards used by investors
    • Or, deny loans not meeting the terms, conditions, standards and guidelines previously referenced
    • Notify Processor and Mortgage Loan Originators of decision made

Qualifications

    • Strong analytical and mathematical skills
    • Strong communication skills (verbal and written)
    • Self-starting, self-reliant, highly motivated and dependable
    • Efficient in time-management and ability to organize and prioritize tasks
    • Technological savvy and comfort in learning new computer systems and programs
    • High school diploma required, college degree preferred
    • Minimum of 5 years underwriting experience and 10 years of mortgage industry experience
    • Thorough understanding of secondary market guidelines (FNMA/FHLMC/GNMA)
    • Strong understanding of the mortgage process from origination through closing
    • Experience with AUS and knowledge of Mortgage Insurance expected
    • Experience with Encompass LOS preferred
    • DE / LAPP certifications strongly preferred, but not required

This is a terrific opportunity at a fast growing company with excellent pay and benefits.