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Jumbo Underwriter

Cheyenne, WY

  • We are retail only.
  • Prefer to hire where we have a platform already: Arizona, California, Colorado, New Mexico, Texas, Washington, Wyoming.  
  • Non-jumbo product we underwrite to agency guidelines: FNMA , FHLMC , FHA, VA , USDA and some state bond agency loans.
  • Jumbo product we underwrite to Chase, Redwood and Pen Fed, signing authority up to 2 Million
  • A wider range of multiple product knowledge preferred for the team as we rotate through all product. Eventually preferred to have everyone trained on most products we offer and that training is offered.
Job Description
The Jumbo Underwriter will be responsible for evaluating loan risk by making sound credit and property decisions per company underwriting guidelines and loan program parameters under Jumbo guidelines. The candidate will weigh all aspects of individual loan credit risk to ensure loans are originated meet secondary market guidelines and requirements and are eligible for purchase.

Essential Duties And Responsibilities

·         Perform loan level assessments of Jumbo correspondent originations production and purchase conditions. 
·         Special care to review cash, income, credit and property issues must be taken. 
·         Meet posted Underwriting turn times. 
·         Review Conditions and resubmissions within stated turn time for file. 
·         Complete Underwriting checklist in every file reviewed. 
·         Update Encompass accurately throughout the day to reflect the current disposition and decision date. 
·         Communicate with operations staff in regards to conditions and requirements for loan purchase. 
·         Identify underwriting errors in loan files and processes based on extensive knowledge/industry standards. 
·         Observing business processes to ensure proper review of Jumbo production. 
·         Communicating deficiencies to the affected business units and internal/external parties as needed. 
·         Making recommendations to operations including internal/external clients for remediation on all deficiencies that were identified. 
·         Assist in identifying loan quality trends and reporting to Jumbo Underwriting Manager or his/her designee. 
·         Analyze loan submission documents for accuracy and completeness, updating systems as needed for loan purchase. 
·         Assess the submitted credit, income and asset documentation to validate if meets agency and guidelines/overlays. 
·         Review and evaluate appraisals, as needed, to determine if collateral is acceptable per secondary market requirements. 
·         Meet department expectations for both production and quality metrics. 
·         Manage and perform multiple tasks accurately in a fast-pace environment. 
·         Understand and follow all company’s policies and procedures. 
·         General knowledge of Mortgage Banking origination practices, procedures, regulations and laws. 
·         Performs other duties as assigned. 

·         Minimum of 3-5 years of current/recent Underwriting experience with jumbo/non-conforming loan products. 
·         General knowledge of Mortgage Banking origination practices, procedures, regulations and laws. 
·         Thorough knowledge of all Agency and market common underwriting requirements as it pertains to Jumbo lending. 
·         Strong understanding of the operational responsibilities involved in the purchase and transfer of whole loan assets as it pertains to credit quality. 
·         Skill in negotiating issues and resolving problems. 
·         Excellent written and oral communication skills and presenting findings and recommendations. 
·         Ability to establish and maintain working relationships with co-workers, staff and external contacts, and to work effectively in a professional team environment. 
Compensation Range: $100,000 to $110,000

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