DE Underwriter
On-siteSherman Oaks, California, United States
Job Summary
Underwrite ethical and salable loans by evaluating risk, reviewing credit packages, appraisals, and asset documentation, and ensuring compliance with Investor, Agency, FHA, and VA guidelines. Exercise judgment on ratios and guideline compliance to identify loans for exceptions, negotiate with Loan Officers, and establish conditions to meet investor requirements. Approve loans or return files, monitor condition status, order PMI, and clear conditions within scope. Resolve problematic loans by restructuring with Loan Officers and processing teams, while responding promptly to QC reviews, investor deficiencies, and daily emails. Mentor junior underwriters and maintain relationships with internal and external customers.
Required Qualifications
- Direct Endorsement (DE)
- High School diploma or GED, or equivalent skills and knowledge for basic analytical and math skills
- Minimum 2-3 years' experience as Jr. Underwriter/ Sr. Processor
- Minimum 5-10 years' experience as an Underwriter
- Competent risk-assessment skills
- Knowledge of mortgage processing documents, procedures and practices
- Knowledge of underwriting and Investor Guidelines
- Customer service skills
- Negotiation skills
- Stress management skills
- Creative problem solving skills and conflict resolution skills
- Relationship building skills
- Training and mentoring skills
- PC Skills (MS Office, LOS, automated underwriting system)
- Analytical and mathematical skills and applications
- Strong communication skills (verbal, written, listening)
- Attention to detail
- Multi-tasking skills
- Excellent time-management skills
- Ability to work independently with minimal supervision
- Flexibility and adaptability in a fluid and rapidly changing environment
- Willingness to do more than basic job requirements as needed
- Signing authority up to agency loan limits
- Underwrite ethical and salable loans
- Evaluate risk and ensure quality of each loan
- Exercise judgment about ratios and Guideline compliance in light of other off-setting circumstances
- Identify loans for exceptions
- Work with Mortgage Banking and Secondary Markets to resolve Conditions
- Approve loans or return file
- Determine other methods/documentation to meet Investor Guidelines
- Establish Conditions to meet Investor Guidelines
- Negotiate
- Problem solving with Loan Officers
- Analyze counter-offers for compliance and acceptability
- Monitor and track Conditions for compliance with Underwriter Guidelines
- Monitor status of all Conditions
- Order PMI
- Clear Conditions that are within scope of job
- Determine accuracy and completeness of underwritten loans for compliance with specified Investor Guidelines
- Review and evaluate credit packages
- Review and evaluate appraisals
- Review and evaluate Asset documentation
- Review and evaluate condo-documentation
- Work with Loan Officers to restructure a problematic loan
- Recommend alternative products/Investors
- Develop and maintain relationships with Loan Officers and Processing Teams
- Respond promptly to all loan officers
- Update and maintain knowledge of loan products and related Investor Guidelines
- Train and provide mentoring to Jr. Underwriters
- Notify QC of integrity issues
- Review exceptions and assist in clearing or resolving issues
- Maintain contact with internal and external customers on loan status and Conditions
- Work planning
- Ensure compliance with Company Policies
- Demonstrate and encourage integrity and alignment with Company Vision, Mission and Values
- Responding to QC reviews
- Responding to Investor Deficiencies
- Responding to all emails daily
- Working directly with Escalation Manager for exception
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