Base $80,000 - $105,000
Sign On Bonus > $15,000 - $20,000
This residential mortgage lender, is owned by an Investment Trust, a publicly traded REIT, and other funds under management, a privately-held investment advisor with approximately $33B of assets under management. This Lender, is a full service, national lender that is an approved Fannie Mae, Freddie Mac and Ginnie Mae seller / servicer. With a strong non-QM product set as a result of its relationship with certain parties and a seasoned management team, the company is planning for substantial growth.
Underwriter - Agency
The Company is seeking an Agency Underwriter. The position will report to the VP of Underwriting or designated Underwriting Team Lead and be responsible for underwriting loans and performing credit analysis to ensure compliance with corporate and secondary market investor standards. The Agency Underwriter will be responsible for examining loan documentation for accuracy and completeness in a prior approval environment, as well as finding solutions and rendering underwriting decisions for loans originated through correspondent, wholesale and retail lending channels and subsequent clearing of conditions to ensure product guidelines are met.
ESSENTIAL JOB FUNCTIONS
POSITION QUALIFICATIONS (EDUCATION AND/OR EXPERIENCE AND SKILLS)
- Underwrite correspondent, wholesale/broker and retail loans in a timely manner to ensure loan meets all product and property guidelines of Company and investors, as well as meeting all established loan policies, credit limits and regulatory requirements
- Analyze borrower’s credit file, collateral and capacity to ensure credit-worthiness
- Underwrite conventional, agency-eligible loans utilizing AUS (DU/LPA) as necessary
- Be subject matter expert (SME) in structuring loans for the Company’s third-party originators and internal salesforce
- Clear conditions timely on loans; affirm data integrity on all submissions
- Identify and escalate to management any suspected or actual misrepresentation or fraud perpetrated by the prospective borrower, Loan Officer or third-party originator
- Enter and maintain copious documentation of each case file within the Company’s LOS pertaining to the eligibility of the loan, including compensating factors, scenario desk results, fully completed Loan Transmittals (1008), system notes and accurate data entry
- Keep up-to-date with all guideline changes and system enhancements.
- Working knowledge of underwriting guidelines demonstrated through a minimum of 5+ years underwriting experience on FHA, VA, and Conforming products.
- FHA and VA underwriting is required.
- High attention to detail and effective problem-solving skills.
- Ability to work independently, with minimal supervision.
- Ability to multitask in a high-volume environment.
- Excellent written and oral communication skills.
- Continuous focus on the customer experience
Monthly bonus for UW:
- 401K - Up to 4 % Match. 1st of the month after 60 days
- PTO - 13 Days
- 8 Holidays
- $25 per final decision (clear-to-close and denials) for conventional conforming,
- FHA, and VA loans; and $37.50 for all non-conforming loans such as jumbo and NQM loans, less applicable taxes and other appropriate withholdings
- Bonuses shall be paid out on the 2nd payroll of each month following the date of the final loan decision.