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01/02 HR
HR at Varite India

Views:620 Applications:145 Rec. Actions:Recruiter Actions:0

Senior Underwriter - Banking (4-9 yrs)

Bangalore Job Code: 1369284

About the job:


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 :


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


- Expertise in 4C's framework (Credit, Capacity, Collateral and Capital),


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


- Knowledge on 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 borrowers 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 Audits 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


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


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


- Mortgage Process (Only Night Shifts)

Women-friendly workplace:

Maternity and Paternity Benefits

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