$80000 to $105000 Per Year
Salary: 85-110K + Bonus (Based Production)
Can be located anywhere in Northwest
- Paid vacation/sick/bank holidays
- 401K w/ match
We are looking for an experienced Mortgage Underwriter to evaluate and determine the eligibility of loan applications. The Mortgage Underwriter's responsibilities include analyzing and verifying loan applications, evaluating risks, and making loan eligibility decisions.
A successful Mortgage Underwriter should be able to exercise sound judgment based on detailed analysis and ensure that all documentation is in compliance with the relevant regulations.
Mortgage Underwriter Responsibilities:
- Authorizing and underwriting loans.
- Reviewing and verifying loan applications and supporting documentation.
- Analyzing loan risk and requesting additional information as necessary.
- Preparing reports on assessment findings.
- Making loan eligibility decisions and approving or rejecting applications.
- Reviewing and specifying loan conditions as necessary.
- Ensuring compliance with regulatory standards.
- Ensuring compliance with company policies and guidelines.
- Documenting and effectively communicating reasons for the approval/rejection of loans.
- Returning applications with additional documentation to the loan officer for review.
Mortgage Underwriter Requirements:
- Degree in business, banking, finance, or a related field.
- Experience in loan underwriting.
- Highly organized and able to prioritize.
- Good communication skills, both verbal and written.
- Detail-oriented with strong data analysis skills.
- High mathematical aptitude.
- Good working knowledge of mortgage loan processing and relevant legal regulations.
- Proficiency in Microsoft Office and automated underwriting systems.
Essential Job Functions
- Underwrites loan files for designated processing center through a review process of analyzing and evaluating income, assets, liabilities, and property, while maintaining designated time frames as determined by management.
- Assimilates new government regulations and applies this knowledge to improve and maintain quality and consistent underwriting.
- Reviews self-employed, corporate and partnership tax returns, profit and loss, as well as financial statements to ascertain borrowers' income.
- Provides written letters of commitment for each loan decision detailing required documentation, loan interest rate, as well as the fees and mortgage amount approved.
- Works with the loan originators and processors to create solutions for problems that arise during processing.
- Identify common errors and report via comment 60 in loan origination system- UNIFI which compiles data for trainers and Regional and Area Sales Managers.
- Secures relevant information and documentation needed to render lending decisions on SIDs, PUDs, and Condominium Associations Seeks formal legal opinions if needed.
- Reviews and corrects potential problems in loan processing files (credit history, nonconforming appraisals, files not adhering to guidelines, etc.).
- High School Diploma or GED Required
- Bachelor's Degree Business Administration or related area preferred or equivalent combination of education and experience.
**DE/SAR/ LAP / CHUMS PREFERRED but not required
- Requires 5+ years minimum mortgage underwriting experience; start to finish
- Experience with appraisals, must be able to analyze collateral
- Deep understanding of tax returns
- Experience is supporting High Net Worth/Wealth Management customers, with residential/consuming lending limits in the $1-2MM aggregate range as approved by Credit Risk Management
- Outstanding knowledge of loan underwriting documentation requirements.
- Ability to communicate with multiple business partners within the organization
- Ability to handle heavy workload, multitask and meet stringent deadlines
- Superior written and verbal communication skills
- Excellent PC skills
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