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Mortgage Underwriter

2 months ago

Meriden, Connecticut, United States Planet Home Lending Full time
Job Summary

The Default Fulfillment Underwriter plays a critical role in reviewing and analyzing borrower requests for loss mitigation strategies, ensuring timely and accurate processing of loan modifications, short sales, and deed-in-lieu requests.

Key Responsibilities
  • Review and analyze borrower requests for loan modification, short sales, and deed-in-lieu, ensuring all required information is submitted.
  • Validate borrower financial and income documentation, computing income from paystubs, tax returns, and other sources.
  • Perform manual calculations of borrowers' front-end and back-end Debt-to-Income (DTI) ratio.
  • Calculate new monthly loan payments based on modified loan rates.
  • Report modification findings to Default Servicing Management for decisioning.
  • Collaborate with Default Closers to prepare and send final modification agreements to borrowers.
  • Complete required HAMP and FHLMC reporting.
  • Recommend denial to manager for a second look if borrower is not eligible for a workout option.
Requirements
  • High school diploma or equivalent required; some college preferred.
  • Minimum 5 years' experience in mortgage underwriting, collections, or loss mitigation.
  • Minimum 2 years' experience in mortgage loan servicing.
  • Thorough understanding of loan modification process.
Functional/Technical Skills
  • Working knowledge of mortgage loan documents and CFPB regulations.
  • Thorough understanding of credit and ability to review complex financial documents.
  • Effective written and verbal communication skills.
  • Strong analytical skills with ability to think outside the box.
  • Commitment to quality customer service.
  • Strong attention to detail.
  • Excellent problem-solving skills and ability to make sound judgments in a fast-paced environment.
  • Well-organized with ability to multi-task.
  • Strong time management skills with ability to meet deadlines.
  • Ability to work well with others.
  • Strong mathematical skills.
  • Experience with MSP system a plus.
  • Strong PC skills (MS Office products) and experience with mortgage origination systems.
Benefits

Our comprehensive benefits package includes 3 Cigna or Kaiser medical plans, dental, and vision insurance. We provide short-term and long-term disability insurance, basic life insurance, 401(k), and 10 employer-paid holidays. Supplemental benefits include life insurance, critical illness, and accident plans.

Work is typically performed in a standard office environment. The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job.