Collateral Underwriter - Remote

Prosperity Home Mortgage, LLC • Chicago, IL

7d • Remote

About The Position

The Collateral Underwriter provides detailed administrative review of
residential appraisal reports, provided by external appraisal vendors, according
to FNMA, FHLMC, FHA, VA, USDA and client directives. This position is
responsible for ensuring the quality and quantity guidelines are met and
conclusions are accurate and/or appropriate; and analyzing quantitative and
qualitative data and rendering professional judgments based on USPAP and client
guidelines.

Direct Endorsement (DE) and/or Staff Appraisal Reviewer (SAR) required.
Prior experience in reviewing VA and/or FHA appraisals is required.

Requirements

• Data Analysis.
• Critical thinking, problem solving, creativity.
• Organizational skills, including a high level of accuracy and attention to detail.
• Effective oral and written communications sufficient to convey details on appraisals and processes.
• Word processing, spreadsheet and typing sufficient to produce spreadsheets with basic formulas and business form letters and memos.
• Operating standard office equipment and using required software applications.
• Recognize deficiencies in appraisals and evaluations reports as well as changes in industry/investor trends and conditions.
• Conduct analysis including basic math, competency with decimals and fractions.
• Analyze quantitative and qualitative data and render a professional judgment.
• Types of real property, terms, types of ownership in real estate, deeds, mortgages, etc.
• Bachelor Degree preferred, and a minimum of five years’ experience in the real estate underwriting industry
• An equivalent combination of education, training or experience.
• Direct Endorsement (DE) and/or Staff Appraisal Reviewer (SAR) required.
• Prior experience in reviewing VA and/or FHA appraisals is required.

Responsibilities

• Perform appraisal reviews of complex and non-complex one-to-four family residential real estate.
• Ensure consistency with USPAP, PHM policies, and generally accepted appraisal standards.
• Determine if the appraisal adequately addresses a wide variety of issues that affect property values, such as size, location, market conditions, and physical property condition.
• Ensure appraisals are free from bias and discriminatory practices.
• Perform external research through the Lender system, public records, and/or online data may be required to verify and support data and opinions within the appraisal and appraisal review.
• Complete comprehensive collateral reviews in a timely manner to meet service level expectations.
• Maintain pipeline and communicate issues/collaborate with credit underwriting, processors, sales partners, and management.
• Collaborate with the Loan Processors, Underwriters and Mortgage Consultants, and Operations Compliance to ensure overall appraisal compliance, independence, and valuation. Stay up-to-date on industry/investor trends and conditions.
• Performs other duties and responsibilities as assigned.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Number of Employees: 11-50 employees