Mortgage Underwriter

This is a fully remote position, open to applicants in Philippines.

📋 Description

• Assess mortgage loan applications to evaluate the applicant's credit reliability, income consistency, and repayment capability.

• Examine financial documents such as pay stubs, tax returns, bank statements, and credit reports to accurately gauge the applicant's financial condition.

• Confirm the precision and completeness of all information submitted in the loan application.

• Evaluate the risk associated with each loan application by analyzing factors such as credit history, debt-to-income ratio, job stability, and property valuation.

• Recognize potential risks and evaluate the probability of default, ensuring adherence to lending regulations and internal policies.

• Make certain that all mortgage loan applications comply with regulatory standards, including those established by government entities like Fannie Mae, Freddie Mac, FHA, and VA.

• Interpret and implement lending guidelines, policies, and procedures to make well-informed decisions regarding loan approvals or rejections.

• Effectively communicate with loan officers, processors, and various stakeholders to collect additional information, clarify discrepancies, or request necessary documentation for underwriting.

• Provide timely and clear updates to loan originators and applicants concerning the status of their loan applications and any further requirements.

• Make decisive judgments on whether to approve, deny, or conditionally approve mortgage loan applications based on comprehensive analysis and risk evaluation.

• Document the rationale for approval or denial decisions, ensuring accuracy and consistency in underwriting outcomes.

• Conduct quality assurance assessments to confirm the accuracy and integrity of underwriting decisions and associated documentation.

• Identify opportunities for process enhancements and contribute to establishing best practices within the underwriting division.

⛳️ Requirements

• Preferred bachelor's degree in finance, accounting, economics, or a related discipline.

• Over 5 years of prior experience in mortgage underwriting.

• Strong knowledge of mortgage lending regulations, guidelines, and compliance standards.

• Exceptional analytical skills with the capacity to assess intricate financial data.

• Keen attention to detail and accuracy in reviewing loan applications and documentation.

• Effective verbal and written communication skills, with the ability to engage professionally with both internal and external stakeholders.

• Proficient in utilizing underwriting software and tools specific to the mortgage industry.

• Ability to operate efficiently in a dynamic environment while juggling multiple priorities and meeting deadlines.

• Competence in income calculations, including W2, bonuses, commissions, overtime, Schedule C, Schedule E, 1120, 1120S, and 1065.

• Comfortable interpreting AUS findings.

• Familiarity with income calculations for non-QM lenders, such as DSCR, bank statements, asset depletion, etc.

🏝️ Benefits

• Competitive salary above market rates.

• Health Maintenance Organization (HMO) coverage starting on Day 1 for the principal and two dependents.

• Government-mandated benefits included.

• Incentives based on performance.

• Quarterly company events.

• 1,000 PHP De Minimis benefit.

• Provision of necessary equipment and software.