Conventional Underwriter
About The Position
Mission Loans is seeking experienced mortgage professionals who thrive in a fast-paced environment without losing focus on quality of work and delivering an exceptional customer experience. As an Underwriter, your primary mission is to evaluate and decision borrower qualification for mortgage loans to ensure creditworthiness, ensure compliance with company, agency and investors standards and deliver a best-in-class customer experience. PRIMARY DUTIES & RESPONSIBILITIES: Overall responsibility for (i) evaluation and decision of borrower qualification for a mortgage loan to ensure creditworthiness, (ii) ensuring compliance with company, agency, and investors standards, and (iii) delivering a best-in-class customer experience. Verify borrower loan application contains all necessary documentation, credit, and financial information; calculate qualifying ratios; identify borrower risk profile. Perform thorough analysis of borrower’s application such as: (i) income and expense data, (ii) asset documentation, (iii) credit reports, (iv) employment, (v) title and (vi) property valuations to affirm borrower stability, capacity to repay and qualification against company, agency and/or investor guidelines. Make and issue independent, compliant underwriting decisions detailing clear conditions necessary to clear the loan for closing. Partner with sales, customer relationship managers, and closers-funders to resolve problems, qualification issues, and clear conditions throughout the underwriting process. Manage underwriting pipeline queues (i.e., initial submissions, conditions, change requests, final approval) to deliver timely decisions that meet company-published service standards. Respond promptly to assist in resolving issues related to requests such as post-closing conditions, suspended loans, quality control audits, and investor audits/inquiries. Maintain current knowledge of company, agency, and investor underwriting guidelines and policies. Scenario support for production. Operate with a goal to meet and exceed internal and external customer expectations. Operate in a manner that promotes loan quality and compliance with lending laws. Maintain productivity and quality performance at or above required goals.
Requirements
- Subscribe to the mission of creating a truly customer and team member-centric environment.
- Love to come into work every day and win.
- Highly motivated self-starter who can work independently under minimal supervision and as a team player.
- Clear, effective interpersonal skills, written and verbal communication skills.
- Ability to work in a fast-paced, multi-tasking environment and manage multiple deadlines.
- Strong analytical, problem-solving, and creative thinking skills.
- Ability to learn and adapt to guideline changes.
- Strong organization, follow-through, and time management skills.
- Excellent attention to detail with commitment to accuracy and quality.
- Dependable, responsible, and able to use good judgment.
- Bachelor’s degree preferred.
- 2-5 years of underwriting experience in a high-volume mortgage setting.
- FHA DE or VA SAR certification.
- Thorough understanding of agency & investor underwriting guidelines, policies, and procedures.
- Extensive knowledge in the following loan programs/products: conventional, FHA, VA, refinance and purchase, a plus – jumbo and non-QM.
- Advanced/Extensive knowledge and responsibility for compliance with state and federal regulations applicable to loan fulfillment.
- Advanced math skills; adept at calculating income from salaried and self-employed borrowers, qualifying ratios, and other relevant loan calculations.
- Expert knowledge of Desktop Underwriter (DU) & Loan Prospector/Loan Product Advisor (LP/LPA).
- Basic proficiency in Microsoft Office products (Excel, Word, PowerPoint, etc.).
Nice To Haves
- Experience in Loan Assumptions is a plus.
- Experience with Byte is a plus.
Responsibilities
- Overall responsibility for (i) evaluation and decision of borrower qualification for a mortgage loan to ensure creditworthiness, (ii) ensuring compliance with company, agency, and investors standards, and (iii) delivering a best-in-class customer experience.
- Verify borrower loan application contains all necessary documentation, credit, and financial information; calculate qualifying ratios; identify borrower risk profile.
- Perform thorough analysis of borrower’s application such as: (i) income and expense data, (ii) asset documentation, (iii) credit reports, (iv) employment, (v) title and (vi) property valuations to affirm borrower stability, capacity to repay and qualification against company, agency and/or investor guidelines.
- Make and issue independent, compliant underwriting decisions detailing clear conditions necessary to clear the loan for closing.
- Partner with sales, customer relationship managers, and closers-funders to resolve problems, qualification issues, and clear conditions throughout the underwriting process.
- Manage underwriting pipeline queues (i.e., initial submissions, conditions, change requests, final approval) to deliver timely decisions that meet company-published service standards.
- Respond promptly to assist in resolving issues related to requests such as post-closing conditions, suspended loans, quality control audits, and investor audits/inquiries.
- Maintain current knowledge of company, agency, and investor underwriting guidelines and policies.
- Scenario support for production.
- Operate with a goal to meet and exceed internal and external customer expectations.
- Operate in a manner that promotes loan quality and compliance with lending laws.
- Maintain productivity and quality performance at or above required goals.
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
