Residential Mortgage Live Underwriter

Loan Underwriter I (US)Job Profile Summary: The Loan Underwriter I is primarily responsible for: Mortgage Operations: Underwriting and evaluating conventional, FHA, VA, and CRA Residential Mortgage applications in compliance with bank policies and procedures. Consumer Operations: Underwriting and evaluatingHome Equity and Consumer LoansDepth & Scope:Underwrites ethical and salable residential mortgage and consumer loans and evaluate risk while insuring the quality of each loan submittedApproves loans, issues alternative options, or adverse action accordingly using sound judgment while applying bank policies and proceduresValidates the data entry to the appropriate Loan Operating System and evaluates all applicable documentation as required by job function and conditionDemonstrates In-depth knowledge of regulatory, investor and departmental lending policies for underwriting of conventional loan requestsEvaluates all documents and condition loan accordingly. Inform Processor of any additional items necessary to substantiate loan requestIdentifies loans for exceptions while ensuring proper procedures are followed for approval and documentation and assists in clearing or resolving any issuesNotifies Management of integrity issues and ensures files are compliant to internal guidelines and external regulatory requirementsMaintains knowledge of loan product guidelines, internal policies and procedures, and regulatory requirementsMay coach and mentor assigned operations staff and assists with training and guidance as assigned by Underwriting ManagerEducation & Experience:High school diploma or GED required1-2 years underwriting experience and/or 2 + years of loan processing experienceWorking knowledge of loan underwriting and documentation requirementsKnowledge of Agency Guidelines and DU automated underwriting system and the ability to provide excellent customer service to both internal and external customersExcellent oral and written communication skillsSolid PC skillsKnowledge of regulatory, investor and departmental lending policies for underwritingKnowledge of CRA products and industryDetail oriented, possessing excellent organizational, analytical and decision making skillsAbility to communicate with multiple business partners in the organizationAbility to handle heavy workload, multitask and meet stringent deadlinesLoan Underwriter II (US)Job Profile Summary: The Loan Underwriter II underwrites and evaluates conventional, FHA, VA, and CRA Residential Mortgage applications in compliance with bank policies and procedures. The Loan Underwriter II underwrites and evaluates Home Equity and Consumer Loans.Depth & Scope:Underwrites all types of income, all product types including ethical and salable residential mortgage loans and consumer loans and evaluates risk while ensuring the quality of each loan submittedApproves loans, issues alternative options, or adverse action accordingly using sound judgment while applying bank policies and proceduresValidates the data entry to the appropriate Loan Operating System and evaluates all applicable documentation as required by job function and conditions loan accordingly; informs Processor of any additional items necessary to substantiate loan requestDemonstrates in-depth knowledge of regulatory, investor and departmental lending policies for underwriting of conventional loan requestsIdentifies loans for exceptions while ensuring proper procedures are followed for approval and documentation; assists in clearing or resolving any issuesManages integrity issues and ensures files are compliant to internal guidelines and external regulatory requirementsMaintains knowledge of loan product guidelines, internal policies and procedures, and regulatory requirementsCoaches and mentors assigned operations staff; assists with training and guidance as assignedEducation & Experience:High school diploma or GED required; 2 year degree or equivalent experience preferred2+ years underwriting experienceAdvanced knowledge of loan underwriting documentation requirementsKnowledge of Agency DU automated underwriting system; must also be familiar with underwriting larger, more complex and specialty productsAbility to effectively communicate with all types of personalities and the ability to provide excellent customer service to both internal and external customersSuperior oral and written communication skillsExcellent PC skillsIn-depth knowledge of CRA products and industryKnowledge of CRA products and industryDetail oriented, possessing excellent organizational, analytical and decision making skillsAbility to communicate with multiple business partners in the organizationAbility to handle heavy workload, multitask and meet stringent deadlinesLoan Underwriter III (US)Job Profile Summary: The Loan Underwriter III underwrites and evaluates conventional, FHA, VA, and CRA Residential Mortgage applications in compliance with bank policies and procedures. This job also underwrites and evaluates Home Equity and Consumer Loans.Depth & Scope:Underwrites ethical and salable residential mortgage and consumer loans and evaluates risk while ensuring the quality of each loan submittedApproves loans, issues alternative options, or adverse action accordingly using sound judgment while applying bank policies and proceduresValidates the data entry to the appropriate Loan Operating System and evaluates all applicable documentation as required by job functionEvaluates all documents and conditions loan accordinglyIdentifies loans for exceptions while ensuring proper procedures are followed for approval and documentation; clears or resolves any issuesEscalates integrity issues as appropriate and ensures files are compliant to internal guidelines and external regulatory requirementsMaintains knowledge of loan product guidelines, internal policies and procedures, and regulatory requirementsCoaches and mentors assigned operations staff; assists with training and guidance as assignedMonitors vendor performance if required, submits monthly reports to managementEducation & Experience:2 year degree or equivalent experience preferred3-5 years loan underwriting experience or 5-7 years of loan processing experience3-5 Years Residential Loan Underwriting ExperienceSupports the High Net Worth/Wealth Mgmt customers, with residential/consumer lending limits in the $1-2MM aggregate range as approved by Credit Risk ManagementOutstanding knowledge of loan underwriting documentation requirementsMortgage Operations - complete knowledge of FNMA DU automated underwriting system; must also be familiar with underwriting jumbo loans and government products such as FHA and VA loansAbility to effectively communicate with all types of personalities and the ability to provide excellent customer service to both internal and external customersSuperior oral and written communication skillsExcellent PC skillsIn-depth knowledge of regulatory, investor and departmental lending policies for underwriting of conventional loan requestsIn-depth knowledge of CRA products and industryDetail oriented, possessing excellent organizational, analytical and decision making skillsAbility to communicate with multiple business partners in the organizationAbility to handle heavy workload, multitask and meet stringent deadlinesLoan Underwriter IV (US)Job Profile Summary: The Underwriter IV underwrites and evaluates the most complex conventional, FHA, VA, and CRA Residential Mortgage applications in compliance with bank policies and procedures. This job also underwrites and evaluates Home Equity and Consumer Loans.Depth & Scope:Underwrites complex residential mortgage loans and evaluates risk while ensuring the quality of each loan submittedSenior level loan decision authority, reviews and underwrites most complex portfolio loans CEMA, Med/Pro, Construction, Jumbo and WealthApproves loans, issues alternative options, or adverse action accordingly using sound judgment while applying bank policies and procedures within risk toleranceIndependently considers, recommends and discusses alternative structures and overall assessmentsEvaluates all documents and conditions loan accordinglyIdentifies loans for exceptions while ensuring proper procedures are followed for approval and documentation; clears or resolves any issuesEscalates integrity issues as appropriate and ensures files are compliant to internal guidelines and external regulatory requirementsMaintains knowledge of loan product guidelines, internal policies and procedures, and regulatory requirements.Indirect supervisory authority; coaches and mentors junior underwriters; assists with training and assesses analysis prepared for accuracy and compliance with policy, guidelines and procedures in all prepared loan recommendations to arrive at an appropriate credit decisionObtains and reviews financial information and provide in-depth credit analysis practicesActs as a subject matter expert in the most complex lanes or workEducation & Experience:4 Year Degree or equivalent experience preferred5-7 Years of related experienceStrong knowledge of local market sector and industry trendsAbility to understand and interpret real estate appraisalsAbility to identify, analyze and mitigate project risksAdvanced written and verbal communication skillGeneral knowledge of Microsoft Office SuiteStrong interpersonal and negotiation skillsStrong Focus on documentation and risk managementDemonstrated ability to complete complex tax return analysis to determine cash flow incomeHistory of underwriting complex jumbo loans in addition to thorough knowledge of agency guidelinesValid PAN Number - _____________________(Why PAN Required > Mandatory to Process Candidature & Find Duplicity in Internal PAN Validation Process and also to initiate a screening callPlease reach out in case of any queries.Sonali Chattopadhyay I Associate People Success Orcapod Consulting Services Pvt Ltd. 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