Senior Underwriter - Banking

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)