Underwriter III
About the role
Why Silverton Mortgage: We are a people-first organization that was voted a top place to work by the Atlanta Journal and Constitution and the Financial Services Industry. We believe in giving back and do so through The Silverton Foundation. Strong communication skills drive customer satisfaction. We offer extensive product lines and maintain an in-house loan process that offers a competitive edge. We have fun!
Responsibilities
- Reviews and evaluates conventional, FHA, VA, and specialty product loans to determine credit worthiness of the borrower, assess risk to the Company, and ensure compliance with federal, state, and Company lending guidelines and regulations.
- Exceeds volume metric of two initial submissions per day with an average of ten loan files per week.
- Completes a full credit and risk analysis of the loan file, including reviewing the real estate contract, title documents, borrower’s ability to repay, and agency requirements.
- Reviews the borrower’s credit history to assess their credit worthiness and ability to repay, considering credit report, credit scores, payment history, debt-to-income ratios, and other financial criteria.
- Verifies borrower’s assets and checks for existing debt or loans that may impact repayment, confirming borrower’s income and certifying income calculations.
- Reviews title reports to confirm legal ownership, appraises the property to evaluate its condition, and manages risk and prevents fraud in the lending process by identifying and addressing potential red flags in the loan application and supporting documents.
- Confirms loan meets lender & regulatory guidelines, ensures compliance with federal & state lending laws, and reviews all documentation in the file to ensure it meets applicable agency or investor guidelines.
- Issues a conditional approval if additional documentation or explanation is required, documents underwriting decisions in the Loan Operating System, and communicates with Loan Originators, Processors, and Closers that the loan is CTC (Clear to Close).
- Works with Loan Originators, Processors, borrowers, and other stakeholders to answer and/or clarify any questions or concerns regarding underwriting decisions, guidelines, or conditions.
- Aids in internal/external audits and stays updated on industry trends, changes in regulations, and market conditions to ensure underwriting processes remain current and effective.
Requirements and Qualifications
- Education: High school diploma or equivalent required. College degree preferred.
- Years of Related Experience: Minimum of 5 years’ experience underwriting conventional, FHA, and VA mortgage loans.
- Licenses/Certifications: Direct Endorsement (DE); Staff Appraisal Reviewer/Lender Appraisal Processing Program (SAR/LAPP), VA Credit Authority Knowledge, Skills And Abilities (KSAs): Excellent understanding of investor, agency and government guidelines and systems; excellent written and verbal communication skills; analytical thinker and consultative mind; goal-oriented, self-motivated with the capacity to meet and exceed assigned goals; willing to learn, industrious, determined, and assertive; excellent organizational skills and the ability to multitask; strong people skills with ability to interact with all internal teams and external customers; must be able to maintain sensitive and confidential information; diligence to ensure tasks are completed thoroughly and on time.
Pay
The total expected pay range including bonus for this position is from $110,000 - $140,000. The stated hiring range is based on experience, qualifications, and other relevant factors. Final compensation decisions will take into account a variety of considerations, including individual skills, internal equity, and organizational needs.
Schedule
Role: Underwriter III
Department: Underwriting
Workstyle: Remote Eligible