Live Underwriter

1 month ago

Sany, India Nexus Hire Full time
JobOverview:
TheConventional Underwriter reviews conditions and underwritesmortgage loans in accordance with established policies andprocedures and appropriate guidelines; examines all documentationfor accuracy andcompleteness.
KeyRequiredSkills:
  • Candidatemust have experience in live underwriting Real TimeAnalysis.
  • Excellent atIncome Calculation and DebttoIncome(DTI) RatioCalculation.
  • Expertise in4Cs framework (Credit Capacity Collateral andCapital)
  • Familiar inCredit report Analysis & LOX (Letter ofExplanation).
  • Knowledge onResidential Mortgage Credit Bureau Documents to approve the loanFamiliar with different accounttypes.

JobRoles andResponsibilities:
Review and analyse the mortgage loan application to ensureeligibility accuracy completeness and compliance with internal andregulatory guidelines to minimize riskfactors. Review allrequired loan data reports and inspections to insure the collateralis acceptable to investor and thecompany. Knowledge ofLending & Underwriting Guidelines Credit & IncomeAnalysis Cash Flow Analysis Risk Assessment LoantoValue RatiosDebttoIncome Ratios.Review Initial application Verify loan property borrowersinformation with other available documents Verify borrowers monthlyincome and expenses Verify other relevantsections. Review allthe documents related to borrower s Credit Capacity Collateral andCapital. Calculateasset required for closing and reserve purpose for the transaction(as per guideline)Responsible for making independent decisions regarding acceptanceand risk of loans according to HUD company and investorguidelines. Providesfinal approval underwriting of mortgageloans. Completes allrequired paperwork and forms in a timely and accurate manner;prepares requiredforms. Sign offconditions in a timely manner set bymanagement. Work withstaff and management to find solutions on escalatedloans. May be requestedto make recommendations for improving Internal Audit s policies andpractices. Manage loansby using all functions ofEncompass. Effectivelycommunicate underwriting decisions with processors andadvisors Maintain highlevel of customer service and communication with otherdepartments. Otherduties asassigned.
Qualification&Experience:
Degree or EquivalentRecent 2 years of experience in LiveUnderwriting. Minimum 4years of experience in conventional/govt end to endunderwriting.Wellversed with all 4C s of Underwriting (Asset Income Credit andCollateral) US MortgageProcess (Only NightShifts)Remote.

underwriting,loans,collateral