18 Mar 2023
Full-Time Senior Commercial Underwriter – Hoshiarpur
Mortgage underwriters make loan decisions and follow strict lending guidelines. Underwriting conventional loans according to agency standards and portfolio loans according to Bank guidelines is the initial step in the development of this position. Mortgage Underwriters are multi-functional, customer-focused personnel that rely on written instructions and pre-established protocols to carry out their responsibilities. The Mortgage Support Manager has direct supervision over them.
Job Title : Senior Commercial Underwriter
Location : Hoshiarpur, Punjab, India
Salary : $ 29.21 per hour.
Company : North American Bancard LLC
Job Type : Full-Time
- Responsible for maintaining current on all state, local, and federal requirements, including but not limited to the Ability to Repay (ATR), Qualified Mortgage (QM), Real Estate Settlement Procedures Act (RESPA), Truth in Lending (TILA), and any other relevant mortgage lending rules.
- Become well-versed in loan product requirements and industry rules, as well as how to stop mortgage fraud, find it, and fix it.
- Demonstrate the ability to make independent conclusions about applicants’ creditworthiness based on established underwriting rules, Bank policies, processes, expertise, and experience.
- Analyze credit, income, and assets on a loan-by-loan basis to accurately assess individual risk, and give underwriting recommendations to Mortgage Originators as soon as possible.
- Create long-term relationships with your clients by providing exceptional service both internally and outside.
- As the Bank’s appraisers’ point of contact, keep appraisers informed of any issues, changes, or other information.
- Examines and analyses information on mortgage loan documents to see if the buyer, property, and loan conditions meet Credit Union and government criteria.
- Determine the level of risk in the whole loan application and effectively underwrite the loan using lending rules and processes.
- Organizes and manages the mortgage loan application process. Completes a complete risk analysis of mortgage loan applications, which involves evaluating legal documents, analyzing income (including self-employment and tax returns), and analyzing assets, among other things. Using this analysis, determine if the application meets the requirements for the credit union portfolio or the secondary market, and then approve or refuse the application based on the results. If they are appropriate, alternative approval criteria are offered.
- FNMA, FHLMC, and FHLB are among the investors in the credit union with whom this person must keep up to date on all secondary market criteria. Changes to these regulations must be communicated in a timely and accurate manner.
- Has a thorough grasp of the underwriting standards for conventional, FHA, VA, USDA, VHDA, and NC housing.
- Ability to communicate, analyze, audit, research, and make decisions are all required. Excellent communication and problem-solving abilities, both verbally and in writing.
- The software CUDL 360, Symitar, Microsoft Excel, and Microsoft Word Processing are all required.
- It is recommended to have 1-3 years of mortgage underwriting expertise, or a similar mix of education and experience.
- Excellent interpersonal, organizational, and communication abilities are required.