Mortgage Underwriter

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

📋 Description

• Conduct thorough reviews and analyses of mortgage applications, accompanying documentation, credit reports, and financial statements to evaluate applicants' creditworthiness and their capability to repay the loan.

• Assess borrowers' income, employment history, credit history, debt-to-income ratio, and other pertinent financial factors to verify if the loan application aligns with lending guidelines.

• Ensure that the potential borrower not only possesses the means to repay but has also demonstrated a commitment to repaying their debts, thereby reducing the risk of default and collection challenges.

• Seek complete and precise information on the loan application and associated package, addressing any inquiries that arise due to insufficient documentation or information to facilitate an underwriting decision.

• Confirm that the borrower has adequate acceptable cash assets available to finalize the mortgage.

• Assess the property to ensure it serves as sufficient collateral for the mortgage and meets the minimum acceptable requirements of investors and insurers.

• Implement established underwriting guidelines and evaluate risk to decide whether to approve, decline, or suggest modifications to loan applications.

• Prepare detailed underwriting conditions and comments that provide justifications for loan approvals or denials.

• Possess the ability to recognize red flags and apply sound underwriting practices.

• Collaborate with loan officers, processors, and other relevant parties to collect information and resolve discrepancies in loan applications.

• Utilize the appropriate Automated Underwriting System (AUS) and accurately input data into the AUS based on validated information from the URLA.

• Gather any necessary information to sell the loan post-closing based on an investor’s suspense, Early Payment Default (EPD), Quality Control (QC), or other unresolved issues.

• Ensure compliance with federal, state, and local regulations, along with adherence to internal lending policies and procedures.

• Remain updated on industry trends, lending regulations, and market conditions to modify underwriting practices as necessary.

• Perform other duties as assigned.

⛳️ Requirements

• A Bachelor's degree in finance, economics, business, or a related field (or equivalent experience).

• Previous experience as a mortgage underwriter or in a similar position within the lending industry.

• FHA Direct Endorsement (DE), Non-QM, Rural Housing, and VA LAPP/SAR are highly recommended.

• Strong understanding of mortgage lending guidelines, regulations, and compliance requirements.

• Proficiency in utilizing underwriting software, financial analysis tools, and the Microsoft Office suite.

• Exceptional analytical and problem-solving skills with a strong attention to detail.

• Effective communication abilities, both written and verbal, for engaging with internal teams and external stakeholders.

• Capability to work independently and make informed decisions while following established policies and procedures.

• Strong time management skills to prioritize and handle a high volume of loan applications.

• Professional certifications such as Certified Mortgage Underwriter (CMU) or similar credentials are advantageous.

🏝️ Benefits

• Health insurance

• 401(k)

• Flexible work hours

• Paid time off