Senior Mortgage Loan Specialist

4 days ago

Mysore, Karnataka, India beBeeMortgage Full time ₹ 9,00,000 - ₹ 12,00,000

The Conventional Underwriter role involves reviewing, assessing and underwriting mortgage loans in accordance with established policies and procedures.

They must examine all documentation for accuracy and completeness, ensuring compliance with internal and regulatory guidelines to minimize risk factors.

Key requirements include experience in live underwriting & Real Time Analysis, excellent income calculation and debt-to-income (DTI) ratio skills, expertise in the 4C's framework (Credit, Capacity, Collateral and Capital), credit report analysis and letter of explanation knowledge, as well as familiarity with credit bureaus and various account types.

Responsibilities include:

Job Responsibilities

  • Review and analyze mortgage loan applications to ensure eligibility, accuracy, completeness, and compliance with internal and regulatory guidelines.
  • Review all required loan data, reports, and inspections to ensure collateral acceptability to investors and the company.
  • Familiarity with lending and underwriting guidelines, including credit and income analysis, cash flow analysis, risk assessment, loan-to-value ratios, and debt-to-income ratios.
  • Verify initial application information, borrower monthly income and expenses, and other relevant sections.
  • Calculate assets required for closing and reserve purposes.
  • Making independent decisions regarding loan acceptance and risk according to HUD, company, and investor guidelines.
  • Providing final approval for mortgage loans.
  • Completing all required paperwork and forms in a timely and accurate manner.
  • Signing off conditions in a timely manner set by management.

Benefits and Qualifications

  • Degree or equivalent education qualification.
  • Minimum 3 years of experience in conventional/government end-to-end underwriting.
  • Well-versed in the 4C's of Underwriting (Asset, Income, Credit, and Collateral).

Skills and Requirements

  • Experience in live underwriting and real-time analysis.
  • Excellent income calculation and debt-to-income ratio skills.
  • Expertise in the 4C's framework (Credit, Capacity, Collateral, and Capital).
  • Credit report analysis and letter of explanation knowledge.
  • Familiarity with credit bureaus and various account types.

Others

The successful candidate will be responsible for working with staff and management to find solutions on escalated loans and may be requested to make recommendations for improving internal audit policies and practices. They will also manage loans using Encompass functions and effectively communicate underwriting decisions with processors and advisors. A high level of customer service and communication with other departments is expected.

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