A well established Lender is seeking to hire On-Site and Remote FHA Underwriters! This is a rare opportunity to join the frontline of this booming mortgage sector! In addition to conventional FHA and VA mortgage loans. They offer an array of products including Non-QM and Agency! Headquartered in California, with offices throughout the west, they are seeking exceptional team members to join their funding team and support the demands of their growing business.
A well-established Mortgage Banker, currently experiencing growth, while other Wholesale Lenders players have decided to close their doors, Company continues to grow and innovate its main line of business: Wholesale and Non-Delegated Correspondent Lending. Their model is to be a consistently competitive lender, while offering exceptional customer service.
Underwriter for FHA with appropriate designations. Responsible for performing a detailed review of residential mortgage loan applications and documentation as submitted through third party originators and non-delegated bankers (correspondent) to ensure loans meet underwriting guidelines as established by FHA . Responsible for effectively communicating all lending decisions to appropriate parties as defined by Co. procedures, and process Adverse Action Notices, where applicable. The ability to work independently, accurately, with minimal supervision is essential.
- Review documentation provided on each loan including all Agency specific forms, credit report, income and asset documentation, purchase agreement, title report, etc. to make an informed lending decision in compliance with HUD, VA and Company policies and guidelines.
- Calculate borrower’s income and debt-to-income ratios based on acceptable to company and HUD
- Inputs lending decisions and completes required screens in the LOS that include the accurate completion of the required Agency forms as well as adding and/or creating applicable conditions of the loan approval
- Review conditions submitted on loans from Brokers and signs off the condition when appropriate
- Work closely with Director of Underwriting, Account Managers and Account Executives, and Mortgage Brokers, as needed to answer loan specific underwriting questions, to discuss specific conditions or documentation.
- Perform a comprehensive appraisal review to ensure the collateral is acceptable, meets Mega Capital, FHA/HUD guidelines
- Run, read and interpret AUS results (to include FHA Scorecard, GUS, DU, LP)
- Accurately complete Agency required forms including, but not limited to the VA 26-1802a, HUD 92900LT (Loan Transmittal), the 92900A (HUD Addendum to the URLA) and the 1980-21 (Request for SFH Guarantee)
- Adhere to specified underwriting guidelines to fulfill FHA/HUD loan requirements
- Display excellent verbal, written and interpersonal skills
- Effectively communicate all decisions and any required conditions to the broker, Sales Manager and/or Account Managers.
- Provide assistance to expedite final approval of the file
- Maintain and cultivate an effective working relationship with internal and external customers
- Respond to all inquiries in a timely manner as established by company SLA’s
- Be able to adjust work and thought process to accommodate changes in the lending environment
- Consistently meet or exceed established minimum productivity levels as determined and required by management for both underwriting and condition management
- Provide mentoring, guidance and training to less experienced personnel
- Provide quality control responses in a timely manner
- Perform other duties and special projects as required
- Current market experience with a minimum of 5 years in the mortgage industry with substantial emphasis on underwriting and credit analysis.
- Minimum of 4 years of current FHA underwriting experience
- DE Designation
- Especially interested with individuals with extensive experience in FHA
- Competitive compensation
- Excellent benefits package including multiple health, dental & vision options
- 401K with robust company match
- Paid company holidays