Responsible for minimizing risks by reviewing standard/non-standard loans for approval or denial.
• Determines degree of risk by examining loan applications and evaluating supporting documentation.
• Examines loan files for exceptions or variations to investor guidelines and evaluates compensating factors.
• Suggests solutions/alternatives for application to fit a specific loan program.
• Makes the decision to approve or deny loans based on Liberty/Investor's guidelines, including underwriting of FHA loan files.
• Submits loans to various automated underwriting systems (AUS) by entering all loan detail into the Loan Origination System (LOS).
• Ensures accuracy of all loan information provided by Broker by reviewing the LOS for specific loan details.
• Determines validity of the credit and collateral loan package by calculating income; verifying employment history, customer assets, funds to close and reserves; reviewing property appraisals, etc., by examining all supporting documentation.
• Reviews conditions that are required prior to closing the loan to verify all investor guidelines have been met.
• Provides superior customer service and upholds customer satisfaction to both internal/external customers by answering questions/requests and providing information in a timely manner.
• Complies with bank procedures and follows regulatory, operational and security guidelines.
• Answers questions from correspondent lenders on current loans in process, scenario variations and program guidelines.
• Trains staff within the department on Investor updates.
• Maintains current industry/underwriting knowledge by completing training sessions as scheduled.
• Contributes to the team effort by maintaining confidentiality and performing other job-related duties as assigned.
• Underwrites and analyzes risk of 3 new files daily, within 24 to 48 hours of submission.
• Reviews 6 condition loans daily, updates the LOS and AUS within 24 hours.
• Makes sound decisions based upon analysis and judgement as evidenced by minimal errors on completed files.
• Meets all guidelines and requirements, as set by individual investors/regulations as evidenced by lack of non-saleable loans and Investor loan repurchase requests.
• Possesses good knowledge of underwriting principals and has the ability to perform duties with limited guidance.
• Demonstrated excellent customer service skills both in person and on telephone as evidenced by management observation.
• Returns phone calls or responds to requests/questions within a 24-hour turnaround.
• Maintains regular attendance and punctuality as evidenced by attendance records.
Knowledge, Skills and Abilities:
• Associates Degree or equivalent business related experience required. Direct Endorsement for FHA required.
• Minimum of 5 years residential mortgage underwriting experience required.
• Minimum of 3 years FHA underwriting experience or 7 years FHA processing required.
• Demonstrates excellent communication skills, ability to provide superior customer service and to work well with others.
• Strong analytical skills with the ability to make sound decisions, initiative and the flexibility to work effectively under time constraints.
• Ability to utilize industry related/word processing/spreadsheet software required, Microsoft Office preferred.
• TalkingAbility to express or exchange ideas by means of the spoken word.
• HearingAbility to receive detailed information through oral communication.
• SeeingAbility to view a computer screen for an extended period of time and/or identify individuals visually.
• SittingAbility to sit for extended period of time.
• Finger dexterityAbility to work with fingers for documents and use a keyboard.
• ReachingAbility to extend hand/arms in any direction to move/handle objects.