Senior Mortgage Underwriter

The Senior Mortgage Underwriter approves or denies mortgage loans; reviews mortgage loan applications for completeness to ensure that it meets the guidelines for loan product requested and ensures file complies with regulatory and legal guidelines.

• Underwrites conventional Federal Housing Authority (FHA), Veterans Affairs (VA), Rural Housing Development (RD), and portfolio loans.
• Ensures that appraisals meet investor and bank requirements and that the value conclusion is reasonable and well supported.
• Reviews all employment, income, and asset documentation to ensure that it is accurate and satisfies investor requirements.
• Reviews credit history and scores to ensure the borrower's credit meets the investor requirements.
• Reviews all documents and information for potential fraud or misrepresentation and for regulatory compliance.
• Reviews and evaluates information on mortgage loan documents to determine if buyer, property, and loan conditions meet establishment and government standards.
• Evaluates acceptability of loan to corporations that buy real estate loans on secondary mortgage markets, where existing mortgages are bought and sold by investors.
• Approves or rejects loan application, or requests additional information.
• Records loan rejections, specifying investor and institution guidelines and basis for declining application, such as insufficient cash reserves.
• Determines terms and acceptability of risk of prospective business.
• Sets prices for prospective mortgage loan applicants.
• Approves or rejects loan application, or requests additional information.
• Assembles documents in loan files, including acceptance or denial, and returns files to originating mortgage loan office. Maintains database on new and existing business.
• Manages and utilizes systems to ensure they accurately reflect the loan request and information (current loan origination system and other investor conduit systems, etc.).
• Communicates and coordinates necessary approval requirements and files status with appropriate persons (originator, processor, closers, Realtors, builders, etc.).
• Participates in implementing second review committee for denied loans.

None

• 6+ years' experience preferred
• Bachelor's degree and 2+ years related experience and/or equivalent combination of education and experience
• Certificates, Licenses, Registrations:
  • An FHA DE designation is required and a VA LAP designation is preferred.

• Ability to travel if required to perform the essential job functions.
• Ability to work under stress and meet deadlines.
• Ability to operate related equipment to perform the essential job functions.
• Ability to read and interpret a document if required to perform the essential job functions.
• Ability to lift/move/carry approximately 10 pounds if required to perform the essential job functions. If the employee is unable to lift/move/carry this weight and can be accommodated without causing the department/division an "undue hardship" then the employee must be accommodated; hence omitting lifting/moving/carrying as a physical requirement.