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The Mortgage Underwriter I is responsible for performing a detailed review and credit analysis of residential mortgage loans to ensure the loans meet underwriting guidelines. Underwriting authority is limited to conforming conventional, FHA streamline and VA streamline loans. This role is also responsible for the mortgage insurance, non-delegated loan and credit reverification processes.
Position Accountabilities
Perform a detailed underwriting analysis for both credit and documentation deficiencies and determine the marketability of each loan; including income and asset calculations, employment history, credit score eligibility, qualifying ratios, etc.
Evaluate the collateral for residential mortgage loans to ensure an investment quality loan product.
Ensure compliance with FNMA, FHLMC, FHA, VA, underwriting and mortgage lending regulations including RESPA, ECOA, FDPA, HMDA, CRA and Truth-in-Lending guidelines.
Proactively communicate loan status with loan originator and Processor throughout the process; respond to questions in a timely manner and notify all parties when additional information is needed.
Maintain a productivity level of 2+ submission reviews per day or as determined by the underwriting manager
Maintain turn time within the company target of 24-hours for initial purchase submission review, 72-hours for initial refinance submission review, and 48-hours for resubmittal review.
Ensure a consistent and proactive approach to condition clearing to increase pull through percentage and decrease overall cycle time.
Be available to processors and correspondents for general guideline interpretations and questions on specific loan files.
Provide quality control responses in a timely manner.
Prepare files for submission to MI companies as needed.
Perform other clerical duties as necessary; answer telephones, copy material and fax.
Maintain thorough knowledge of documentation required to meet investor underwriting and compliance requirements.
Maintain post closing suspense target error rate determined by management
Other duties as assigned.
Organizational Relationship This position reports to the Manager – Mortgage Underwriting
Position QualificationsEducation & Experience
Bachelor’s degree in related field or equivalent professional experience
Minimum 1-year processing/operations experience with basic knowledge of Fannie Mae/Freddie
Excellent interpersonal, communication, and organization skills
Ability to handle multiple tasks
Flexible, able to adapt to change
Advanced math and moderate accounting skills
Moderate computer skills relevant to Microsoft Office Suites
Working knowledge of FHLMC, FNMA, FHA, and VA documentation guidelines and mortgage lending regulations including Truth-in-Lending, RESPA, ECOA, FDPA, HMDA and CRA
Proficiency using automated underwriting systems including DU and LPA
Ability to grasp concepts quickly, make sound decisions and be able to communicate effectively with investors and branch personnel
Advanced written, oral, and interpersonal communication skills with ability to explain complex calculations, documentation and loan closing requirements
Ability to effectively perform multiple tasks under aggressive time constraints
Salary offered will be based on several factors including but not limited to education, work experience, certifications, etc. This position is also eligible to participate in either an applicable incentive compensation plan for the position or a discretionary profit-sharing bonus program. General information on our comprehensive benefits package can be found by visiting https://www.atlanticunionbank.com/about/careers/benefits.
We are proud to be an EEO/AA employer, Minority/Female/Disability/Veteran. We maintain a drug-free workplace.
Introduction: My name is Wyatt Volkman LLD, I am a handsome, rich, comfortable, lively, zealous, graceful, gifted person who loves writing and wants to share my knowledge and understanding with you.
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