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Senior Mortgage Underwriter (Allied First Bank)
Ref No.: 16-07784
Location: Oswego, Illinois
The Senior Mortgage Underwriter reviews residential loan applications to ensure compliance with appropriate company and investor standards, along with all applicable laws and regulations. The Underwriter will be responsible for examining loan documentation for accuracy and completeness; is involved in one or several types of mortgage lending including but not limited to conventional, FHA, VA, and USDA loans. The Underwriter will also be working with Mortgage Loan Originators, Processors, Closers, and other operations staff to secure all required documents.
  • Review and evaluate borrower(s) profile including but not limited to all income documentation, tax returns, credit reports, and appraisals
  • Assess employment profile, credit strength, property characteristics, and all other information pertinent to the credit decision process on each mortgage application, as presented
  • Analyze new loan requests in the context of Client, Freddie Mac, VA, USDA and FHA guidelines, along with a working knowledge of Appendix Q, and ATR rules
  • Maintain current knowledge of all applicable underwriting guidelines, internal procedures, and regulations.
  • Independently identify potential risks and mitigating factors that could impact the customer's ability to repay the loan.
  • Underwrite Conventional, FHA, VA and Other Loan products to verify completeness, accuracy, and compliance
  • Develop and maintain current and sound knowledge of multiple loan product guidelines offered by the company, DU/LP/GUS guidelines, and risk assessment tools used to decision mortgage loans
  • Rework loans to new terms, identify additional conditions as needed to insure a viable credit decision
  • Develop and provide clear, detailed and unbiased decision summary notes including but not limited to credit analysis, property/appraisal review, income and asset calculations and red flag identification
  • Communicate regularly with sales team, processors and management
Required: At least five years of current frontline mortgage Underwriting
  • Appraisal review and tax return analysis skills required
  • Prior experience with Encompass a plus
  • Current FHA Chums/DE underwriting ID number with a minimum of two years' experience in underwriting FHA loans. VA LAPP/SAR preferred but not required.
  • Experience with repurchase response and/or rebuttal review and response preparation
  • High School diploma or equivalent required; Bachelor's degree preferred
  • Understanding of TRID, RESPA, QM and Predatory Lending
  • Excellent interpersonal, organizational, prioritization and time management skills
  • Ability to deliver effective results and to meet deadlines with minimal supervision
  • Self-starter, adapt to a changing environment and have the ability to communicate and work well with co-workers
  • Possess clear, concise and effective written and oral communication skills
Job Type: Full-time
Required education:
  • High school or equivalent
Required experience:
  • USDA: 1 year
  • Mortgage Underwriting: 5 years
  • FHA: 2 years
  • Encompass LOS: 1 year
  • Va: 1 year
ControlID: 14.234.89 SHR