Mortgage Underwriter

Job Type

Full-time

Description

Mortgage underwriters are the gatekeepers of the homeownership dream. They play a crucial role in ensuring the financial stability of both lenders and borrowers by carefully evaluating loan applications and determining creditworthiness. If you're a detail-oriented financial whiz with a knack for assessing risk, this challenging and rewarding career path might be for you.

Responsibilities:

• Review and analyze loan applications: This involves meticulously examining financial documents like tax returns, pay stubs, credit reports, and asset statements to assess the borrower's ability to repay the loan.
• Evaluate financial risk: Underwriters must use their analytical skills to identify potential red flags that could indicate loan delinquency, such as high debt-to-income ratios, unstable employment, or insufficient down payments.
• Make loan eligibility decisions: Based on their analysis, underwriters determine whether to approve or deny a loan application. They may also recommend specific loan terms and conditions based on the borrower's profile and risk assessment.
• Communicate effectively: Underwriters need to clearly explain their decisions to loan officers, borrowers, and other team members. This may involve writing detailed reports, providing justifications for loan denials, and negotiating loan terms.
• Stay up-to-date on industry regulations: The mortgage industry is constantly evolving, so underwriters must be committed to staying informed about the latest regulations and compliance requirements.

Requirements:

• Review and analyze loan applications: This involves meticulously examining financial documents like tax returns, pay stubs, credit reports, and asset statements to assess the borrower's ability to repay the loan.
• Evaluate financial risk: Underwriters must use their analytical skills to identify potential red flags that could indicate loan delinquency, such as high debt-to-income ratios, unstable employment, or insufficient down payments.
• Make loan eligibility decisions: Based on their analysis, underwriters determine whether to approve or deny a loan application. They may also recommend specific loan terms and conditions based on the borrower's profile and risk assessment.
• Communicate effectively: Underwriters need to clearly explain their decisions to loan officers, borrowers, and other team members. This may involve writing detailed reports, providing justifications for loan denials, and negotiating loan terms.
• Stay up-to-date on industry regulations: The mortgage industry is constantly evolving, so underwriters must be committed to staying informed about the latest regulations and compliance requirements.
• Must be located in either the Eastern or Central timezones.

Qualifications:

• Strong analytical and problem-solving skills are essential.
• Excellent attention to detail is crucial for accurately assessing loan applications.
• Effective communication skills are necessary for interacting with borrowers, loan officers, and other team members.
• At least 3 years experience underwriting
• Delegations required: VA/SAR
• All delegations preferred: FHA, VA/SAR, USDA
• Bond, DPA and Housing Programs a plus 
• Must be able to independently research with agency partners to ensure guidelines are met per AUS feedback