Residential Mortgage Underwriting Specialist

2 weeks ago


Knoxville, Tennessee, United States Sage Home Loans Corporation Full time
Job Overview

Position: Residential Mortgage Underwriting Specialist

Key Responsibilities:

  • Evaluate and underwrite a variety of residential mortgage loans secured by real estate.
  • Contribute to operational strategies, performance metrics, and benchmarks to achieve departmental goals.
  • Act as a knowledgeable resource in residential mortgage underwriting, particularly in relation to agency guidelines (Fannie Mae, Freddie Mac).
  • Manage complex loan scenarios with specific investor guidelines and stay informed on industry trends in loan underwriting and home equity lending.
  • Review, analyze, and audit intricate residential loan transactions to ensure data accuracy, regulatory compliance, and adherence to document requirements.
  • Conduct cash flow assessments to evaluate the financial status of borrowers, including analysis of financial statements and credit reports.
  • Employ both manual and automated underwriting methods to establish suitable conditions and loan decisions in line with investor specifications.
  • Examine property appraisals to confirm compliance with all investor documentation standards.
  • Maintain compliance with all applicable state and federal regulations governing mortgage credit underwriting, serving as a final check for loan guideline adherence.
  • Authorize loans within established lending limits, review secondary market loan denials, and escalate cases exceeding authority for further evaluation.
  • Provide insights for the creation and modification of departmental procedures related to the processing of residential loans.
  • Underwrite both Conventional (conforming and jumbo) loans.
  • Work effectively within an Automated Underwriting System environment.
  • Utilize an Encompass-based lending platform.

Qualifications:

  • Experience in underwriting residential mortgages for the secondary market.
  • Proficiency in underwriting various loan types for secondary market sales and portfolio management.
  • Ability to assess residential mortgage and home equity lending applications.
  • Skilled in resolving title and underwriting challenges.
  • Capable of analyzing complex data and technical issues to reach sound conclusions.
  • Familiarity with PC software applications, including Microsoft Word and Excel.
  • Experience with Automated Underwriting Systems.
  • Knowledge of the Encompass Loan Origination System.
  • Understanding of mortgage and home equity loan products, pricing, tax implications, and regulatory standards.
  • Strong mathematical skills to support cash flow evaluations.
  • Knowledge of FCRA, ECOA, and other relevant federal and state credit extension regulations.
  • Experience in underwriting salable residential mortgage and home equity loans.
  • A minimum of 3-5 years of underwriting experience.

Preferred Skills:

  • Familiarity with FHA and VA loan programs.
  • Support the expansion of business initiatives for originating and selling first mortgage loans in the secondary market.
  • Assist senior management in developing a thriving residential lending operation.
  • Demonstrate strong negotiation skills and sound judgment in resolving underwriting and title issues.
  • Contribute to the establishment of effective real estate loan processing procedures.
  • Guide and assist in the training and development of processing staff as needed.
  • Collaborate effectively with applicants, loan officers, and appraisal/title vendors to address underwriting concerns.
  • Communicate efficiently with senior management, internal teams, and external clients.
  • A bachelor’s degree from an accredited institution is preferred.

About Sage Home Loans Corporation:

Sage Home Loans Corporation is a pioneering digital mortgage lender dedicated to transforming the mortgage origination process. By leveraging innovative technology solutions, we aim to create seamless and user-friendly customer experiences that simplify the mortgage application journey. Our fully digital online application allows users to complete their applications and explore suitable mortgage options at any time. We complement this digital experience with exceptional service from our expert Loan Officers, ensuring the best possible experience for our borrowers.



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