Overview
This position is responsible for the timely and accurate analysis and evaluation of loan applications submitted through third-party originators. Underwriting decisions are made based on the borrower’s credit, employment, income, financial data, asset profile, the appraisal report, and investor guidelines. The role requires sound decision-making that mitigates risk, adheres to quality standards, and supports the borrower’s ability to obtain and sustain homeownership.
Responsibilities
- Underwrite 3–4 new loans per day by thoroughly analyzing borrower income, credit, assets, ratios, and collateral to ensure compliance with applicable investors, agencies, HUD, VA, USDA, or HFA guidelines.
- Maintain 24–48 hour turn times.
- Clear UTC conditions within 24 hours.
- Prepare loans for risk committee.
- Make counter offers for loans that do not conform to the products under which they were originated.
- Stay current on investor, agency, FHA, VA, and internal guideline changes, including overlays.
- Ensure accuracy of criteria for specific loan types, products, rates, applicable documentation, and data.
- Maintain Quality Control ratings within company standards.
- Attend appropriate seminars, live and recorded courses to stay abreast of market trends and developments.
- Participate in roundtables as needed.
- Provide training support to the sales force as needed.
- Listen in on departmental huddles.
- Assist loan officers, broker partners, and NDC clients with scenarios and explain conditions that are unclear.
- Assist in the development of new underwriters, broker coordinators, and processors.
Required Skills
- Strong analytical skills, particularly in credit and risk, along with decision-making skills
- Effective interpersonal skills and technical report-writing skills
- Attention to detail
- Knowledge of Encompass LOS
- Commitment to the work
- Personal organization
- Adaptability and flexibility
- Ability to meet strict deadlines and demonstrate a sense of urgency as applicable
- Ability to foster teamwork
- Use of sound judgment
- Comfort working with financial and quantitative data
Education & Experience
- 3–5 years of experience as an Underwriter with complete knowledge of the mortgage business
- Bachelor’s degree preferred or equivalent work experience
- Experience with FHA/VA/Agency loans
- Direct Endorsement (DE)
- LAPP/SAR preferred
- Knowledge of Encompass LOS
Supervisory Responsibilities
Certificates, Licenses, & Registrations
Equal Employment Opportunity
The employer provides equal employment opportunities (EEO) to all employees and applicants for employment without regard to race, color, religion, gender, sexual orientation, gender identity, national origin, age, disability, genetic information, marital status, amnesty or status as a covered veteran, in accordance with applicable federal, state, and local laws. The employer complies with applicable state and local laws governing nondiscrimination in employment in every location where it has facilities.
This policy applies to all terms and conditions of employment, including hiring, placement, promotion, termination, layoff, recall, transfer, leaves of absence, compensation, and training.
The employer expressly prohibits any form of unlawful employee harassment based on protected categories, and improper interference with employees’ ability to perform their expected job duties is not tolerated.
E-Verify
This employer participates in E-Verify. If hired, the employer will provide the federal government with your Form I-9 information to confirm that you are authorized to work in the U.S.