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DE/VA Underwriter (Georgetown Mortgage)
Ref No.: 16-08640
Location: Dallas, Texas
The Sr. Underwriter will be responsible for multiple types of mortgage lending. This includes government guaranteed loans and credentials are required (DE required and prefer VA SARS). The Underwriter is responsible for validating income, asset, property (including title and appraisal, sales agreements) and disclosures. Underwriter will provide a detailed summary of findings and provide a loan decision; loan approvals, conditional loan approvals, suspense and loan denials. This position involves both independent and team work environments, so a successful candidate should be able to easily transition between each. Underwriters who join the team must have superior customer service skills that include both verbal and written communication.
Core Responsibilities
The core responsibilities of the position include, but are not limited to the following:
  • Evaluates loan applications for risks and various criteria such as investor requirements, accuracy, consistency and completeness.
  • Review new loan files to ensure loan meets investor and program criteria.
  • Minimum standard of 10 new loans per week and a turn time of 72 hours or less is required.
  • Review transmittal & 1003 to make sure it is accurate and complete, compare to findings to verify that all information matches.
  • Review credit report and compare to liabilities on 1003. Verify the investor guidelines for outstanding derogatory items and requirement payment or satisfaction if needed. Request updated mortgage history if needed.
  • Calculate income using documentation required per investor.
  • Review assets statements to compare to required assets. Require documentation and source for any recent large deposits.
  • Communicate loan suspense effectively through a conference call with both RMLO and Loan Processor. Call must be logged within the conversation log through the Encompass loan file.
  • Review title to verify our borrower has ownership on a refinance transaction and that the seller has ownership for purchase transaction. Check that chain of title meets investor requirements. Verify there are no unpaid liens or judgements and that all mortgage liens being paid off through the transaction. Compare tax figures to 1003.
  • Review appraisal to ensure the value is supported and that the appraiser has provided complete accurate appraisal. Order value review on loans considered high risk.
  • Review file to make sure compliance has been met; regulatory, state compliance and federal (Patriot Act).
  • Verify that the rate lock matches the underwriting file with the correct program, LTV, credit score and pre-payment penalty.
  • Review final conditions turned in for Underwriting final approval within 24 hours.
  • Maintain current and fluid knowledge of investor and agency guidelines.
  • Approves loan with proper documentation or recommends further action.
  • Communicates effectively and engages proactively with loan originators, processors, branch managers, funders and post-closers in regards to loan decisions, assignment of loan conditions, investor guidelines/documentation requirements and possible loan scenarios.
  • Reviews and evaluates information on mortgage loan documentation to determine if borrower and/or property meets loan standards.
  • Completes a thorough analysis of loan files to determine compliance with company, investor, and Government guidelines and standards.
  • Evaluates the entire package and collateral for residential mortgage loans and ultimately ensures an 'investor' quality loan product.
  • Utilizes Automated Underwriting Systems to evaluate, score and render final credit underwriting decisions.
  • Review and evaluate loan files for risk issues and potential misrepresentation.
  • Manage and prioritize RUSH files, resubmissions, and newly submitted loans.
Job Requirements
  • 5+ years of recent Mortgage Underwriting Experience (FHA, VA and Conventional) with strong agency guideline knowledge.
  • Experience working with properties other than detached (i.e. condos, attached PUD's, duplexes, etc.).
  • DE, SAR and LAPP certifications are required; experience with USDA is a plus.
  • Knowledge of Bond and DPA programs.
  • Strong working knowledge of ATR/QM Requirements.
  • Encompass LOS experience is a plus.
  • Must have a high comfort level working in a paperless environment.
  • Ability to work in a fast paced, fluid environment and be held to minimum production standards.
  • High integrity and outstanding work ethic required.
  • Strong ability to cross check material for completeness and accuracy.
  • Must have proficient written and verbal communication skills.
  • Knowledge of compliance and disclosure requirements.
  • Knowledge of closing, post-closing & quality control responsibilities.
  • Ability to interact well and assist others as needed. Customer Service skills are essential for this position.
  • Availability to work extended hours as the business dictates.
Educational and Experience Criteria
  • High School Diploma (minimum).
  • 5+ years of residential loan underwriting experience.
  • DE/SAR certifications required.
  • Proven experience in managing tasks and projects to ensure thoroughness and quality in completion of work.
  • Working knowledge of Microsoft Office Suite.
Working Environment
  • In office or work remotely based on specific needs being filled.
  • Hourly/non-exempt position.
Job Type: Full-time
Required experience:
  • Underwriting: 5 years
Required license or certification:
  • DE/SAR
ControlID: 14.234.89 SHR