Underwriter

Moder

24d

About The Position

The Conventional Underwriter is responsible for performing a comprehensive review and analysis of mortgage loan files to make informed lending decisions. This role primarily focuses on conventional loan products. The ideal candidate will be well-versed in FNMA, FHLMC, and investor guidelines and possess strong analytical, decision-making, and communication skills.

Requirements

Bachelor’s Degree from a Four (4) year College or University.
5+ years of conventional mortgage underwriting experience.
In-depth knowledge of FNMA, FHLMC, and investor guidelines.
Strong analytical and problem-solving skills.
Ability to exercise sound business judgment and make appropriate credit decisions.
Experience underwriting loan types such as Conventional, Closed End Second, and VA IRRRL.
Proficient in reviewing and interpreting income documentation (W-2s, tax returns, bank statements, etc.).
Familiarity with AllRegs and ability to locate and interpret guidelines.
Strong communication and presentation skills.
Self-motivated, detail-oriented, and able to work independently or as part of a team.
High level of integrity and a commitment to delivering quality work.

Responsibilities

Well versed with FNMA. FHLMC and investor guidelines, able to review and locate exact guidelines for decision making
Should have good analytical and problem-solving skills
Manage end-to-end underwriting processes, primarily focusing on conventional loans.
Accurately calculate different Income types such as Salaried, Self-Employment, other income and rental income for loan decisioning
Should have decision-making skill when applying in business judgment based on Underwriting review
Evaluate complete loan documents and should provide approval or denial decision
Complete review of credit report to verify trade lines, derogatory accounts, public records and credit reconciliation, calculate HTI/DTI
Complete review of Collateral and property valuation to identify physical and market conditions of property
Assets verification includes borrower’s bank account statement, retirement accounts, mutual funds and other investments. Identify red flags, large deposits, regular deductions on bank statement
Apply expertise in the 4 C's of underwriting (Credit, Capacity, Collateral, and Capital)
Evaluating evidence of borrower’s willingness and ability to repay the obligation
Good communication, Presentation skills, Self-motivated and hard working
Able to review investor guidelines (Allregs – FNMA & Freddie) and client overalls.
Performs other related duties as assigned.