Mortgage Underwriter
2 weeks ago
The Conventional Underwriter reviews, conditions and underwrites mortgage loans in accordance with established policies and procedures and appropriate guidelines; examines all documentation for accuracy and completeness.
**Key Required Skills**:
- Excellent at Income Calculation and Debt-to-Income (DTI) Ratio Calculation.
- Expertise in 4C's framework (Credit, Capacity, Collateral and Capital),
- Familiar in Credit report Analysis & LOX (Letter of Explanation).
- Knowledge on Credit Bureau, Documents to approve the loan, Familiar with different account types.
**Job Roles and Responsibilities**:
- Review all required loan data, reports, and inspections to insure the collateral is acceptable to investor and the company.
- Knowledge of Lending & Underwriting Guidelines | Credit & Income Analysis | Cash Flow Analysis | Risk Assessment | Loan-to-Value Ratios | Debt-to-Income Ratios.
- Review all the documents related to borrower’s Credit, Capacity, Collateral and Capital.
- Calculate asset required for closing and reserve purpose for the transaction (as per guideline)
- Responsible for making independent decisions regarding acceptance and risk of loans according to HUD, company, and investor guidelines.
- Provides final approval underwriting of mortgage loans.
- Completes all required paperwork and forms in a timely and accurate manner; prepares required forms.
- Sign off conditions in a timely manner set by management.
- Work with staff and management to find solutions on escalated loans.
- May be requested to make recommendations for improving Internal Audit’s policies and practices.
- Manage loans by using all functions of Encompass.
- Effectively communicate underwriting decisions with processors and advisors
- Maintain high level of customer service and communication with other departments.
- Other duties as assigned.
**Qualification & Experience**:
- Degree or Equivalent
- Minimum 4 years of experience in conventional/govt end to end underwriting.
- Well-versed with all 4C’s of Underwriting (Asset, Income, Credit and Collateral)
- US Mortgage Process (Only Night Shifts)
- Hybrid.
**Salary**: ₹1,000,000.00 - ₹1,200,000.00 per year
Schedule:
- Night shift
- US shift
Ability to commute/relocate:
- Coimbatore, Tamil Nadu: Reliably commute or planning to relocate before starting work (preferred)
Application Question(s):
- We are scheduling walk-in drive for this role, are you able to give F2F interview, If are you Immediate Joiner there is on spot selection?
Work Location: In person
Application Deadline: 12/03/2024
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