Underwriting - Senior Underwriter
About The Position
The Senior Underwriter is responsible for reviewing and rendering credit decisions on FHA, VA, Conventional, and Non-Agency residential mortgage loan applications, ensuring full compliance with First Heritage Mortgage LLC, investor, and agency guidelines. This role requires expert-level knowledge of HUD and VA policies, strong risk assessment skills, and the ability to apply overlays consistently. The Senior Underwriter will utilize active FHA Direct Endorsement (DE) and/or VA SAR/LAPP authority to review credit, income, assets, and collateral, making sound credit decisions while mentoring junior underwriting staff and supporting complex loan scenarios.
Requirements
- Exceptional written and verbal communication skills.
- Proven ability to document clear, defensible underwriting decisions.
- High attention to detail and strong analytical capabilities.
- Expertise in credit, income, and asset evaluation for FHA and VA lending.
- Proficiency in reviewing personal and business tax returns for income calculation.
- In-depth knowledge of underwriting policies, investor guidelines, and current regulatory requirements.
- Professional judgment to handle confidential borrower information with integrity.
- Strong time management and organizational skills to meet volume and turn-time goals.
- Minimum 5+ years recent FHA and VA residential mortgage underwriting experience.
- Active FHA Direct Endorsement (DE) and/or VA SAR/LAPP designation in good standing required.
Nice To Haves
- Experience underwriting USDA and state housing finance/bond programs preferred (Virginia Housing, Maryland Housing, etc.)
- Experience in a high-volume retail mortgage environment strongly preferred.
- Knowledge of Encompass Loan Origination System preferred.
Responsibilities
- Review and validate credit, property, income, asset, and employment documentation for FHA, VA, USDA, and applicable state housing programs.
- Apply HUD Handbook 4000.1, VA Lender’s Handbook, investor overlays, and company guidelines to ensure compliance.
- Utilize DE and/or SAR authority to approve, suspend, counter-offer, or decline loan files.
- Review and analyze appraisals for accuracy, completeness, and acceptability under FHA and VA requirements.
- Identify and address red flags for potential fraud or misrepresentation.
- Prepare clear, concise underwriting summaries outlining the credit decision rational.
- Communicate conditions and decisions effectively to Loan Officers, Processors, and other stakeholders.
- Support escalated scenarios and complex guideline interpretation requests.
- Review resubmissions and clear conditions to issue final approvals.
- Maintain quality underwriting standards to minimize audit findings and repurchase risk.
- Stay informed on guideline, regulatory, and compliance changes, ensuring timely application in daily work.
- Provide guidance and training to less experienced underwriters and processing staff.
- Contribute to internal underwriting policy updates and procedural improvements.
Benefits
- Access to competitively priced, high-quality health care options through Aetna, MetLife and EyeMed
- Employer-paid Short Term and Long Term disability, basic life and AD&D insurance
- Employee-paid life, Legal Resources, and Aflac supplemental options
- 401(K) with up to $4K employer match
- Health Savings Account (HSA)
- Flexible Spending Account (FSA) for dependent care
- 12 weeks of paid maternity leave through our Short-Term Disability Plan
- Wellness benefits, including free and low-cost mental health resources and support services through our Employee Assistance Program
- Paid Time Off (increases with tenure)
- No-cost coverage for identity theft or travel mishaps
- Advanced pay option through Dayforce Wallet
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What This Job Offers
Job Type
Full-time
Career Level
Senior
Education Level
No Education Listed
