DE Mortgage Underwriter

USA Only
Oceanside Mortgage Company
Job description
The Underwriter is responsible for validating income, asset and collateral documents including self-employed tax returns. The Underwriter may be involved in one or several types of mortgage lending (conventional, government-backed, etc.). Lending authority to include conventional, FHA, VA, and USDA loan programs. Excellent phone and communication skills and a value of providing superior customer service to internal and external customers required.

Essential Responsibilities:

Evaluates loan applications for risks and various criteria such as investor requirements, accuracy, consistency, and completeness
Review new loan files to ensure loan meets investor and program criteria.
Review transmittal & 1003 to make sure it is accurate and complete, compare to findings to verify that all information matches
Review credit report and compare to liabilities on 1003. Verify the investor guidelines for outstanding derogatory items and require payment or satisfaction if needed. Request updated mortgage history if needed
Calculate income using documentation required per investor, questioning any large changes in income
Review assets statements to compare to required assets. Require documentation and source for any recent large deposits
Review title to verify our borrower has ownership on a refinance transaction and that the seller has ownership for a purchase transaction. Check that chain of title meets investor requirements. Verify there are no unpaid liens or judgments and that all mortgage liens being paid off through the transaction. Compare tax figures to 1003
Review appraisal to ensure the value is supported and that the appraiser has provided a complete accurate appraisal. Order value review on loans considered high risk
Review file to make sure compliance has been met; regulatory, state compliance and federal (patriot act)
Calculate net tangible benefit for those states that require this test
Review final conditions turned in for Underwriting Final Approval
Maintain current and fluid knowledge of investor and agency guidelines
Approves loan with proper documentation or recommends further action
Communicates effectively and engages proactively with loan originators, processors, branch managers, funders and post-closers in regards to loan decisions, assignment of loan conditions, investor guidelines/documentation requirements and possible loan scenarios
Applies knowledge of underwriting and pre-underwriting to best serve loan applicant and investor needs
Performs other related duties as assigned

Job Requirements

Bachelor's Degree or equivalent combination of education and experience
3+ years of recent Mortgage Underwriting Experience (FHA, VA and Conventional) with strong agency guideline knowledge
DE certification required; experience with VA & USDA is a plus
Strong working knowledge of ATR/QM Requirements
Ability to work in a fast paced, fluid environment and be held to minimum production standards
High integrity and outstanding work ethic required
Strong computer skills; proficient in Microsoft Word, Excel and Outlook
Must have proficient written and verbal communication skills
Knowledge of compliance and disclosure requirements
Knowledge of closing, post-closing & quality control responsibilities

Only applicants with active DE certifications will be considered! Remote candidates will be considered.