Job Title: Underwriter
Reports To: Underwriting Manager
The Underwriter is responsible for ensuring the organization meets agency and investor guidelines to
mitigate risk by underwriting all loans in a specific location, manage process team, and pipeline
reporting for staff.
- Underwrite loans daily – all programs FHA, VA, State Housing & Rehabilitation.
- Responsible for all items in loan file and to ensure compliance documentation is in file.
- Answer processor and loan officer questions; handle all questions for underwriting in the branch.
- Maintain current awareness of investor guidelines.
- Maintain current awareness of compliance issues.
- Clear any post-closing loans – any government deficiencies.
- Run and review fraud reports.
- Run and review conditions for closings.
- Run and review findings report.
- Completion of any compliance training as required by law or RMS.
- Maintain current awareness and understanding of all regulatory compliance responsibilities of the position. Ensure that own work, as well as work of any employees supervised, follows all applicable laws, regulation, policies and guidelines.
- Ensure proper safeguarding of confidential and proprietary information of consumers and other protected information under the Company’s Information Security Policy.
- Ensure compliance with the Document Integrity Policy, including: (1) preventing the misleading alteration of documents (e.g., use of wite-out, selective copying); (2) not providing pre-dated documents for signature; (3) not requiring consumers to sign documents that have not been completed; and (4) scrutinizing documents presented to the incumbent for completeness and authenticity.
- Unless properly licensed under the SAFE Act or applicable state laws, and the duties of the
- position so require, the incumbent will not perform such tasks as taking mortgage applications, offering or negotiating rates or terms of a mortgage loan with the consumer, soliciting, arranging or finding mortgage loans, or counseling consumers about residential mortgage loan rates or terms, as those actions may be defined by applicable laws and regulations.
- Minimum of a high school diploma and 5-10 years of related experience or equivalent is required.
- Ability to add, subtract, multiply, and divide in all units of measure, using whole numbers, common fractions, and decimals.
- Ability to compute rate, ratio, and percent and to draw and interpret bar graphs, as well as the ability to calculate figures and amounts such as discounts, interest, commissions, proportions, percentages, area, circumference, and volume.
- Ability to apply concepts of basic algebra and geometry.
- College degree in finance or related field.
- Extensive knowledge of Encompass Loan Origination system.
- This position has familiarity with Microsoft Word/Excel/Outlook/SharePoint and the Internet. The Underwriter is also proficient in using Encompass and automated underwriting systems (AUS) and has in-depth knowledge of mortgage lending and mortgage regulations.