Secondary Mortgage Underwriter

About the role

Evaluates mortgage loan applications to determine applicant's creditworthiness, income stability, and ability to repay the loan.

Responsibilities

• Evaluates mortgage loan applications to determine applicant’s creditworthiness, income stability, and ability to repay the loan.
• Review and analyze financial documents, including income statements, tax returns, bank statements, and credit reports to assess the applicant’s financial status.
• Verify the accuracy and completeness of loan documentation and ensure compliance with lending regulations and agency, investor, and company policies.
• Assess property appraisals and conduct risk assessments to determine the loan-to-value ratio and overall risk associated with the mortgage.
• Communicate with loan officers, processors, and other relevant parties to gather additional information or clarify discrepancies in loan applications.
• Make informed decisions on loan approvals, denials or conditional approvals based on established criteria and risk assessment.
• Stay up to date on changes in lending regulations, underwriting guidelines of agency and investor, and industry best practices to ensure compliance and mitigate risks.
• Collaborate with other departments as needed to resolve complex issues and ensure regulatory compliance.
• Maintain pipeline management of a combination of up to 3 new file reviews as well as resubmission reviews and adverse request reviews.
• Perform other duties as assigned.

Requirements

• Experience: Three years to five years of similar or related experience.
• Education: (1) A two-year college degree, or (2) completion of a specialized certification or licensing, or (3) completion of specialized training courses conducted by vendors, or (4) job-specific skills acquired through an apprenticeship program.

Qualifications

• FHA DE and VA SARS Certification required.
• Thorough knowledge and understanding of guidelines for all Non-QM and Agency (FNMA, FHLMC, FHA, VA, USDA).
• Thorough knowledge and understanding of Encompass LOS system is preferred but not required.

Skills

• Strong analytical, problem-solving, and decision-making skills with the ability to assess complex financial information.
• Strong ability to multitask.
• Commitment to upholding ethical standards and maintaining confidentiality in handling sensitive information.

Benefits

N/A

Pay

N/A

Schedule

N/A