Underwriter

Job purpose

The Underwriter is responsible for validating income, asset, and collateral documents including self-employed tax returns. The Underwriter may be involved in one or several types of mortgage lending including, but not limited to, conventional, FHA, government, USDA, etc.

Duties and responsibilities

• Reviews and analyzes individual residential mortgage loan requests to determine approval or denial.
• Reviews financial statements, credit reports, ratios (i.e. Debt ratios, loan-to-value), appraisals, title reports and other relevant file documentation.
• Validates income and employment information, and value of a borrower's collateral and assets.
• Reviews submitted files to qualify for Fannie Mae, Freddie Mac, FHA, VA, and USDA (Rural Development) guidelines as per automated findings.
• Reviews and evaluates information on mortgage loan documents to determine if conditions meet established investor standards.
• Ensures that the property specifications and loan terms meet financial institution requirements and government regulations.
• Ensures compliance with industry standards, state and federal laws and disclosure requirements.
• Communicates loan decisions to internal lenders, coordinators and/or processors.
• Documents the reasons for approval or denial of the loan in the loan file.
• Underwriter will work remotely and may be required to work from the office based on company needs. Advance notice will be provided should this be the case.