Description
You will manage the end-to-end mortgage underwriting process to ensure loan eligibility, accuracy, and regulatory compliance.
Responsibilities
- Review and analyze mortgage loan applications to minimize risk and ensure compliance with internal and investor guidelines.
- Verify borrower information, including monthly income, expenses, and property data, against supporting documentation.
- Evaluate collateral acceptability by reviewing all required loan data, reports, and inspections.
- Make independent decisions regarding loan acceptance and risk based on HUD, company, and investor standards.
- Calculate required assets for closing and reserves while managing conditions and paperwork in a timely manner.
Required Skills
- Minimum 3 years of experience in conventional or government end-to-end underwriting.
- Deep expertise in the 4C's framework: Credit, Capacity, Collateral, and Capital.
- Proficiency in income calculation and Debt-to-Income (DTI) ratio analysis.
- Experience with residential mortgage credit bureau reports and Letter of Explanation (LOX) analysis.
- Strong knowledge of Cash Flow Analysis and Loan-to-Value (LTV) ratios.
- Ability to perform real-time analysis and live underwriting.
- Competency in managing loans using Encompass functions.
Preferred Skills
- Experience with 5+ years in mortgage underwriting.
- Ability to communicate underwriting decisions clearly to processors and advisors.
- Collaborate with management on escalated loans.