Our DE Underwriter is responsible for the daily tasks involved in reviewing residential FHA/VA/Conventional loan packages to deliver valid credit decisions according to investor and agency guidelines for specific loan programs. S/he will evaluate credit worthiness and borrowers’ ability to qualify for mortgage loan in the amount requested with the collateral desired based on investor and agency standards.
Complete analysis of loan packages to deliver valid credit decisions.
Determine if the loan file is eligible for funding according to investor and agency guidelines to which it is locked.
Determine if the loan file is eligible for insuring according to agency guidelines.
Perform timely reviews of stipulations/conditions submitted.
Review loan package as submitted by Loan Processor and provide loan approval with conditions to close.
Discuss any issues with Loan Officer and/or Loan Processor.
Insure VA loans. If pulled for audit, ship to VA accordingly.
Complete write ups for HUD/FHA. Research and respond to any issues or questions that arise.
Work with shipping clerk on stips-related issues. Assist in selling loans to investors.
Keep up with changes in guidelines, legal, and other compliance related issues.
Maintain open line of communication with Loan Officers and Processors on files.
Provide stellar customer service to all staff by effectively explaining credit decisions.
Respond to Loan Officers’ question on underwriting using the underwriting scenario email address.
Knowledge of credit underwriting and property evaluation Conventional, FHA and VA loan principles and concepts.
Knowledge of retail lending concepts and principles.
Thorough understanding and strong working knowledge of credit, underwriting, credit policy and financial statement analysis.
Knowledge of DU and LP.
Strong credit, risk analysis, and analytical skills.
Ability to accurately analyze financial data.
Ability to examine loan documentation for accuracy and completeness
Ability to read and interpret various investor and agency requirements and relate requirements to the loan being underwritten.
Ability to work effectively with loan originators and production staff to acquire all required documentation.
Knowledge and familiarity with fraud detection techniques.
Excellent and effective oral and written communication skills with internal and external customers.
Working knowledge and experience with industry-related software and programs.
Education & Experience
This position requires a minimum of 5 years of experience underwriting FHA, VA, and Conventional Loans. Direct Endorsement from HUD is required and LAPP approval from VA is strongly desired as well as full VA LAPP authority. Knowledge of retail lending concepts and principles is required, along with formal training in personal financial analysis and tax return analysis is required. Auditing and Quality Control training is required.
Compensation commensurate with experience.