Underwriter

Novus Home Mortgage•Brookfield, WI

About The Position

Underwrites residential loans ensuring compliance with appropriate company, secondary market Investor standards, and all applicable laws. The Underwriter will be responsible for examining loan documentation for accuracy and completeness; is involved in one or several types of mortgage lending including but not limited to conventional program loans. Must be able to underwrite wholesale and retail loans within the company and industry guidelines. The Underwriter will also be working with Loan Originators, Branch Managers, and Processors to secure all required documents.

Requirements

Three (3) to five (5) years of recent underwriting experience in the mortgage industry required
Knowledge of basic lending and underwriting policies and procedures, including guidelines issued by FNMA and FHLMC
Sound judgment and decision-making skills
Ability to work under pressure and meet deadlines with minimal supervision
Excellent organizational skills
Experience using Encompass
High School Diploma or Equivalent
Knowledge of Freddie Mac, Fannie Mae and FHA/VA guidelines
Familiarity with automated underwriting technology i.e., Fannie Mae Desktop Underwriter and Freddie Mac Loan Prospector
Proficient in data entry and management
Ability to speak, read and write fluently in English

Nice To Haves

Fluency in other languages preferred
Active DE and/or SARs certification is preferred

Responsibilities

Reviews loan applications and supporting documentation to insure thoroughness and accuracy
Calculate income and assets accurately and require sufficient documentation to support findings and decision.
Review appraisals according to appraisal guidelines and within service level agreements.
Reviews and analyses loan-to-value and debt-to-income ratios
Evaluates the borrower(s) profile including but not limited to all income documentation, tax returns, credit reports, preliminary report, judgments, bankruptcy documents and appraisals and ensures all necessary documentation is requested to support final loan decisions
Interacts with Quality Control, Compliance, and Funding for problem resolution, risk evaluation, and compliance concerns
Exercises good judgment and delivers an underwriting decision on each loan file within determined underwriting service level agreements
Communicates with the Loan Officer, Processor, and Closer to aid in resolving conditions.
Develops and maintains an up to date and sound knowledge of multiple loan product guidelines offered by Novus Home Mortgage, DU/LP guidelines, and risk assessment tools
Demonstrates proficiency in automated underwriting systems