Mortgage Underwriter

Dept.: UnderwritingF* unctional Title: Underwriter FLSA: Non Exempt*SUMMARY: Review loan to determine it meets Agency guidelines and investor guidelines for sale into secondary market. Responsible for credit, income, asset and collateral review. Review fraud tool to determine any possible issues with transaction. Condition loan approval and obtain all documentation needed to ensure loan is salable.JOB DUTIES AND RESPONSIBILITIES:• Review initial 1003 for completeness, HMDA date, signatures of borrowers and loan officer• Review Data Verify to determine any issues with Application, borrower Identity orproperty• Validate all third party vendor documentation (4506 tax transcripts, SSN, LDP/GSA, Flood and verbal verifications of employment• Review credit report to determine accuracy of borrower, enter all liabilities into Data Trac, check for any disputed accounts, request necessary documentation for inquires and derogatory credit• Determine income for borrower and at least a 3 year continuance of income – document per AUS findings and investor requirement• Review asset documentation to determine borrower has sufficient cash to close andrequired reserves• Review Title Prelim report and condition as required to ensure PCM has a first lien position• Determine that collateral is acceptable to investor by reviewing the appraisal• Input and update AUS to match final loan approval• Communicate with all parties to transaction (Broker/Branch, AE, CSR) initial underwriting decision and all subsequent updated approvals• Conduct final review of file and update Data trac prior to Clearing the loan to close• Input necessary data in Government agency websites as needed (ie FHA appraisal logging)• Assist with QC audits for any loan pulled in Audit• Assist with any investors stips to ensure timely purchase of loan• Work closely with Credit manager on any questions relative to eligibility of loan for sale to secondary market or FHA/VA insuring issues• Keep Abreast of changes in the marketplace relative to credit and/or collateral• Attend weekly underwriting Department meetingsQUALIFICATIONS:• Minimum of 5 years prior underwriting experience• Completion of Self employed income analysis course• Completion of Appraisal review course• Strong attention to Detail• Good communication, both verbally and written, skills• Self Starter – ability to work under pressure• Ability to meet expected turn times for conditions and new loansMinimum Productivity / Quality Requirements after 90 days:• Expectation is 3 new loans per day and condition review to keep turn times at 48 hours for Wholesale loans and 24 hours for Retail loansExperience:• Underwriting: 5 years (Required)