Underwriter IV

SWBC

13d

About The Position

SWBC is seeking a talented individual to underwrite mortgage applications to include composing and creating credit decisions, interpret investor guidelines and policies, and review all loan submissions to ensure investor guidelines are met. This individual weighs credit risks to ensure loans originated by the company will be saleable in the secondary market, trains other underwriters, monitors the Mortgage Underwriting Scenarios Mailbox, acts as a liaison to the IT Department for systems issues, and performs underwriting for more complex loan products. Essential duties include the following: Provides technical assistance to other underwriters, loan originators, and processors and closers in order to enhance volume, accuracy, and efficiency through personal interaction and monitoring of Scenarios Mailbox. Develops training materials for new underwriters and for continued staff development; performs actual training of new underwriters; and assists in their development as needed. Acts as contact point and represents Underwriting Department for systems improvements including LOS systems. Determines and advises if a file can be counter-offered to a different product and/or program when appropriate. Underwrites all loan types including the more complex products. Performs second-level reviews of other underwriter files as needed. Interprets investor guidelines and policies to ensure that loans are salable in the secondary market. Underwrites Conventional, FHA, VA, and USDA loans ensuring compliance with appropriate company and secondary market investor standards. Makes decisions related to credit and collateral; analyzes complex loan documentation (i.e., appraisal reports, compliance inspections, credit reports, job verifications, financial statements and tax returns) to evaluate subject property and credit worthiness of borrowers; and determines if loans meet approval criteria and informs production staff within corporate time frame. Responds to investor, agencies, and internal qualify control audits as needed.

Requirements

Minimum of five (5) years mortgage lending experience, which includes at least three (3) years mortgage underwriting experience.
Thorough understanding of FHA, VA, FNMA, FHLMC, and conventional guidelines, policies and procedures.
Thorough knowledge of all underwriting procedures and real estate appraisals.
Thorough knowledge of creditor financial analysis techniques and mortgage credit evaluations.
Excellent analytical and decision making skills.
Strong verbal and written communication skills.
Strong negotiation skills.
Thorough knowledge of MI policies.
Thorough knowledge of complex personal and business financial analysis and an expertise in tax return and balance sheet analysis, including both cash flow and AGI methods.
Working knowledge of personal computers to include MS Word and Excel.
Possess a HUD Direct Endorsement Underwriter and a FHA DE designation.
Able to sit for long periods of time analyzing loan applications, credit reports, and other related documents.
Able to lift/push/pull/stoop/kneel 10 – 20 lbs. of files or other documents.

Nice To Haves

VA LAPP designation strongly preferred.

Responsibilities

Provides technical assistance to other underwriters, loan originators, and processors and closers in order to enhance volume, accuracy, and efficiency through personal interaction and monitoring of Scenarios Mailbox.
Develops training materials for new underwriters and for continued staff development; performs actual training of new underwriters; and assists in their development as needed.
Acts as contact point and represents Underwriting Department for systems improvements including LOS systems.
Determines and advises if a file can be counter-offered to a different product and/or program when appropriate.
Underwrites all loan types including the more complex products.
Performs second-level reviews of other underwriter files as needed.
Interprets investor guidelines and policies to ensure that loans are salable in the secondary market.
Underwrites Conventional, FHA, VA, and USDA loans ensuring compliance with appropriate company and secondary market investor standards.
Makes decisions related to credit and collateral; analyzes complex loan documentation (i.e., appraisal reports, compliance inspections, credit reports, job verifications, financial statements and tax returns) to evaluate subject property and credit worthiness of borrowers; and determines if loans meet approval criteria and informs production staff within corporate time frame.
Responds to investor, agencies, and internal qualify control audits as needed.