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Sr. Mortgage Underwriter

Company Name:
Professional Employment Solutions, Inc.
Description
This position will be responsible for rendering mortgage underwriting decisions and subsequent clearing conditions to ensure credit guidelines are met, based on evaluation of borrowers' creditworthiness, income, assets, ability for repayment of the loans, as well as analyzing property evaluations, and other underwriting factors associated with underwriting real estate loans. Position responsibilities include but, are not limited to, proactively communicating the underwriting decisions to the Loan Originators, as well as serving as a resource to Residential Mortgage personnel on underwriting questions. This position ensures team follows determined workflow, thereby meeting service level agreements that have been identified. This position is responsible for ensuring credit quality meets all defined standards and regulations, handles complex underwriting decisions which requires extensive senior knowledge and/or unique problem solving abilities.
Qualifications:
Education:
Bachelor's degree in Business related studies. A combination of education and exceptionally strong, directly related experience may be substituted.
Experience:
Must have a minimum of 5-10 years experience in underwriting real estate loans. FHA-Direct Endorsement (DE) approved underwriter designation and prior mortgage insurance background beneficial.
Requirements
Knowledge, Skills and Requirements:
1. In-depth knowledge of conventional, portfolio, conforming and government (FHA, VA) lending guidelines. In depth working knowledge of FNMA, FHLMC products as well as secondary market lending.
2. Possesses broad functional knowledge, including excellent judgment and underwriting analysis skills.
3. Strong knowledge of FNMA, FHLMC, DU/LP, ALT A, and other regulatory/underwriting guidelines.
4. Must be able to review, analyze and provide synopses on real estate appraisals.
5. Must be eligible to register with the Nationwide Mortgage Licensing System & Registry (NMLS) and must maintain registration with NMLS as a registered Mortgage Loan Originator (MLO).
6. Must have strong working knowledge of Federal and State Regulations governing real estate lending as well as knowledge of residential mortgage origination, underwriting and servicing.
7. PC Skills as well as Intermediate knowledge of office products, including spreadsheet, word processing and presentation applications.
8. Ability to analyze policies, procedures and guidelines in a way that maximizes productivity but protects the level of risk desired.
9. Must be able to analyze personal and business tax returns and financial statements.
Essential Duties and Responsibilities
1.Responsible for rendering mortgage underwriting decisions and subsequent clearing conditions to ensure credit guidelines are met, based on evaluation of borrowers' creditworthiness, income, assets, ability for repayment of the loans, as well as analyzing property evaluations, and other underwriting factors associated with underwriting real estate loans.
2.Review, analyze and provide synopses on real estate appraisals.
3.Thorough knowledge of the complete mortgage lending process.
4.Thorough knowledge of financial analysis techniques.
5.Keep abreast of secondary market requirements, as well as changes affecting compliance and regulatory changes.
6.Keep abreast of government (FHA, VA, FNMA,FHLMC) lending guidelines.
7.Manage expected service levels related to decision and condition clearing.
8.Update information on processing and underwriting systems to verify, add, delete and/or waive conditions.
9.Contact Loan Originators with the decision on the loan immediately after underwriting the file.
10.Retrieve and review lending reports related to loan processes and loan closings, and take action to ensure closing deadlines are met. Review exception reports to ensure completion of all tasks.
11.Monitor compliance issues and ensure compliance with state and federal regulations.
12.Ability to work with minimum supervision, and work with multiple priorities and meet deadlines.
13.Monitor work flow design and searches for efficiency enhancements.
14.Recommend changes which lead to enhanced productivity and competitive loan products/positioning.
15.Standard BSA compliance requirement.

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