19 Mar
2023
Full-Time Commercial Mortgage Underwriter (Remote Considered) – Amulung
Job Description
You will be the financial expert who evaluates the Company’s financial risk on a potential borrower and is ultimately responsible for approving or denying mortgage loans as a Mortgage Underwriter. Our Underwriters’ primary responsibility is to assist with the underwriting process so that business goods can continue to be produced in accordance with all applicable laws and corporate policies.
Job Title : Commercial Mortgage Underwriter (Remote Considered)
Location : Amulung, Cagayan Province, Philippines
Salary : $ 29.45 per hour.
Company : Lument
Job Type : Full-Time
Qualifications:
- Determine the total risk of the loan application and use lending regulations and processes to successfully underwrite the transaction.
- Maintain a complete awareness of loan product requirements and industry laws, as well as assisting in mortgage fraud prevention, detection, and settlement.
- Provide great internal and external customer service that meets each client’s unique demands and encourages bank loyalty.
- Communicate with appraisers regarding challenges, changes, and other information while running and maintaining the Bank’s appraisal portal.
- To correctly assess individual risk, analyze credit, income, and assets on a loan-by-loan basis and provide underwriting recommendations to Mortgage Originators as quickly as feasible.
- Manages the mortgage loan application pipeline. Completes a full risk analysis of mortgage loan applications, which includes legal document evaluation, income analysis (including self-employment and tax return analysis), and asset analysis, among other things. Determine if the application fulfils the standards for the credit union portfolio or the secondary market using this analysis, and then approve or deny the application depending on the findings. Alternative approval criteria are suggested if they are appropriate.
- Responsible for staying up to date on all secondary market requirements, with an emphasis on the credit union’s existing investors, such as FNMA, FHLMC, and FHLB. Changes to these regulations must be communicated correctly and promptly.
- Examines and analyses information on mortgage loan papers to determine whether the buyer, property, and loan conditions comply with Credit Union and government criteria.
- Demonstrate the ability to make sound decisions about applicants’ creditworthiness based on current underwriting standards, Bank policies, processes, skills, and experience.
- Responsible for staying current on all state, local, and federal regulations, as well as ensuring that all guidelines, such as the Ability to Repay (ATR), Qualified Mortgage (QM), Real Estate Settlement Procedures Act (RESPA), Truth in Lending (TILA), and all other applicable mortgage lending rules, are followed.
Skills:
- Communication, analytic, auditing, investigative, and decision-making skills are all required. You have outstanding communication and problem-solving abilities, both vocally and in writing.
- Mortgage underwriting expertise, or a combination of education and experience that is equivalent, is preferred.
- Communication skills are essential.
- CUDL 360, Symitar, Microsoft Excel, and Microsoft Word Processing are all needed applications.
- The candidate must have a solid grasp of conventional housing, FHA, VA, USDA, VHDA, and NC underwriting criteria.