Mortgage Underwriter

Job Description

Job Title:

Underwriter

Department:

Underwriting

Location:

Remote
(New England based preferred)

Position reports to:

Chief Risk Officer

Position supervises:

N/A

FLSA status:

_ Exempt     _x_ Non-Exempt

TMS Core Values:

• Do the Right Thing
• Embrace and Drive Change
• Create and Maintain High Morale, Job Fulfillment and Enjoyment
• Be Creative and Open-Minded
• Pursue Growth and Learning in Self and Team
• Build Open and Honest Relationships with Communication

General Purpose and Scope:

Underwrite residential loans ensuring compliance with agency and investor standards. Examine loan application and documentation for accuracy, completeness, and overall credit risk. Work with loan originator and production staff to secure all required documents. May respond to individual and investor audits. 

Responsibilities / Functions:

• Underwriting loans to the standards of all agencies and investors with an emphasis on quality.
• Assess risk and evaluate a borrower’s willingness and ability to repay by reviewing the loan application, credit history/liabilities, assets, income, and collateral.
• Calculate basic and complicated income scenarios including evaluating tax returns and calculating income for self-employed borrowers.
• Must have experience reviewing appraisals and warranting condo projects.
• Working knowledge of guidelines for FNMA, FHLMC and FHA required.
• Must have DE certification. VA SAR/LAPP certifications, renovation and or USDA experience is a plus.
• Must have a minimum of 5-7 years of underwriting experience.

Personal Traits / Competencies:

• Strong detail orientation.  Organizational and time management skills.
• Ability to make assertive, logical, and compliant decisions.
• Excellent verbal and written communication skills.
• Ability to multi-task and adapt quickly in an ever changing market.
• Ability to work effectively in a positive and professional manner under time constraints.

Technical / Computer Skills:

• Thorough knowledge of Desktop Underwriter, Loan Prospector and FHA Total Mortgage Scorecard.
• Knowledge of most common computer software products
• Experience with Encompass loan software is helpful.
• Proficiency in Microsoft Office
• Ability to pick-up new LOS systems and understand new software quickly.

Education and Experience:

• Bachelor’s degree (BA/BS) or work experience equivalent
• 5-7 years previous mortgage underwriting experience
• DE to underwrite FHA loans required.  VA credit certification/LAPP approval appraisal review for VA loans a plus.
• Current knowledge of agency and investor requirements.

Certifications, Licenses: N/A

Hours for position:

Monday – Friday 9:00 AM to 5:00 PM

May require over-time; must be available to work additional hours on short notice as determined by management to meet service level agreements.

Conclusion

This job description is intended to convey information essential to understanding the scope of the job and the general nature and level of work performed by job holders within this job. But, this job description is not intended to be an exhaustive list of qualifications, skills, efforts, duties, responsibilities or working conditions associated with the position.

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