US Mortgage Originations Underwriter

Job Title: – US Mortgage Originations Underwriter

Location: On-site – Pune or Bangalore - Purely Work From Office

Shift: Night Shifts (6 pm IST onwards)

Experience: Minimum 3 years in US Mortgage Originations

Job Summary:

The Post Close QC Auditor will re-underwrite residential mortgage loan files for Pre-Funding and Post Closing audits to ensure accuracy of information and verify presence of all required documents in accordance with all agency and investor guidelines (FNMA, HUD, Freddie Mac, VA and USDA). The QC Auditor will review documents that may include initial federal disclosures, origination documents, QC credit reports, income and employment documents, property documents such as purchase agreements, title, appraisals and property valuation, loan-to-value ratios, debt-to-income ratios, and compliance documents to determine lenders adherence to all applicable agency guidelines as well as state and federal requirements.

Key Responsibilities:

· Analyze calculations and verifications of income & assets, and evaluations of credit reports, liabilities, purchase contracts, appraisals, title commitments, and other loan pertinent documentation to ensure all agency guidelines have been met.

· Thorough evaluations of all the required documents as per the guidelines

· Recalculate income, assets, and DTI to ensure all eligibility and agency guidelines are met.

· Perform a post funding loan analysis to ensure that the loan documents, origination, underwriting, eligibility, and funding of loans were in accordance with company policies and procedures, agency guidelines, and state, and federal regulations.

· Determine if proper procedures were followed in the origination, underwriting, and funding of the loans.

· Determine if the underwriter correctly calculated income and approved the loan in accordance with company policies and procedures as well as agency guidelines.

· Review loans for all red flags to ensure loans do not present fraudulent activity.

· Document findings in audit system with an accurate and detailed picture of the defect.

· Must be and stay current on all agencies, state, and federal guidelines, and participate in on-going training as industry evolves.

· Manage time efficiently and prioritize workloads to meet strict deadlines while handling multiple tasks.

· Be flexible in the work environment.

· Conduct all activities and interactions in a professional manner.

Required Skills & Qualifications:

· Bachelor's degree or equivalent work experience in the financial or mortgage services industry

· Shift timings will be 6 pm to 3 am IST now, and 7 pm to 4 am during US daylight savings

· Excellent written communication

· Minimum 3 years of experience in US Mortgage Underwriting

· FHA Direct Endorsement/ VA SAR Certifications preferred.

· In-depth knowledge of all federal, state, and local compliance regulations: Truth in lending, Equal Credit Opportunity laws, CFPB, REG Z, REG B and REG X

· Proficient with conventional and government underwriting guidelines for agencies

· Experience in quality control services in a multiple client environment a plus

· Must have expert working knowledge of calculating and verifying income & assets, evaluating credit reports, purchase contracts, appraisals, title commitments, and other loan pertinent documentation.

· Must have in-depth knowledge of total closing function: underwriting condition to closing, closing instructions, closing procedures, and TRID.

· Expert knowledge of AUS systems, including Loan Prospector and Desktop Underwriter

· Encompass and ACES applications knowledge would be an advantage.

· Must have manual underwriting, as well as automated underwriting experience.

· At least an Intermediate level user of Microsoft Office Suite, with an emphasis on Word and Excel

· Must be self-motivated and able to work independently in a production environment.

Job Type: Full-time

Application Question(s):

• Hello

Would you confirm the below details please:

Total experience:

Total experience in US Mortgage Originations:

Willing to work in night shifts:

Willing to work purely from office only:

Current Location/area (for transport/cab service):

Current designation:

Current CTC:

Expected CTC :

Notice period:

Is your notice negotiable?: If yes, how soon can you join?

Work Location: In person