Conventional/Live Underwriter

Job Overview :

The Conventional Underwriter reviews, conditions and underwrites mortgage loans in accordance with established policies and procedures and appropriate guidelines; examines all documentation for accuracy and completeness.

Key Required Skills :

- Candidate must have experience in live underwriting, Real Time Analysis.

- Excellent at Income Calculation and Debt-to-Income(DTI) Ratio Calculation.

- Expertise in 4Cs framework (Credit, Capacity, Collateral and Capital)

- Familiar in Credit report Analysis & LOX (Letter of Explanation).

- Knowledge on Residential Mortgage - Credit Bureau, Documents to approve the loan, Familiar with different account types.

Job Roles and Responsibilities :

- Review and analyse the mortgage loan application to ensure eligibility, accuracy, completeness, and compliance with internal and regulatory guidelines to minimize risk factors.

- Review all required loan data, reports, and inspections to insure the collateral is acceptable to investor and the company.

- Knowledge of Lending & Underwriting Guidelines/Credit & Income Analysis/Cash Flow Analysis/Risk Assessment/Loan-to-Value Ratios/Debt-to-Income Ratios.

- Review Initial application

- Verify loan, property, borrowers' information with other available documents

- Verify borrower's monthly income and expenses

- Verify other relevant sections.

- Review all the documents related to borrower's Credit, Capacity, Collateral and Capital.

- Calculate asset required for closing and reserve purpose for the transaction (as per guideline)

- Responsible for making independent decisions regarding acceptance and risk of loans according to HUD, company, and investor guidelines.

- Provides final approval underwriting of mortgage loans.

- Completes all required paperwork and forms in a timely and accurate manner; prepares required forms.

- Sign off conditions in a timely manner set by management.

- Work with staff and management to find solutions on escalated loans.

- May be requested to make recommendations for improving Internal Audit's policies and practices.

- Manage loans by using all functions of Encompass.

- Effectively communicate underwriting decisions with processors and advisors

- Maintain high level of customer service and communication with other departments.

- Other duties as assigned.

Qualification & Experience :

- Degree or Equivalent

- Recent 2+ years of experience in Live Underwriting.

- Minimum 4 years of experience in conventional/govt end to end underwriting.

- Well-versed with all 4C's of Underwriting (Asset, Income, Credit and Collateral)

- US Mortgage Process (Only Night Shifts)

- Remote.