19 Mar
2023
Full-Time Senior Mortgage Underwriter – Umuahia
Job Description
Mortgage underwriters make lending decisions and follow strict lending guidelines and protocols. Mortgage Underwriter I is the first phase in the progression of this position, and it comprises mastering the underwriting of conventional loans in accordance with agency criteria and portfolio loans in accordance with Bank guidelines. Mortgage Underwriters are multi-functional, customer-oriented personnel that rely on written instructions and pre-established protocols to perform their duties. The Mortgage Support Manager supervises them directly.
Job Title : Senior Mortgage Underwriter
Location : Umuahia, Abia, Nigeria
Salary : $ 29.03 per hour.
Company : Corporate Synergies
Job Type : Full-Time
Qualifications:
- When it comes to the credit worthiness of applicants, demonstrate the ability to make sound decisions based on current underwriting standards, Bank policies, processes, knowledge, and experience.
- Responsible for staying up to date on all state, local, and federal standards, such as the Ability to Repay (ATR), Qualified Mortgage (QM), Real Estate Settlement Procedures Act (RESPA), Truth in Lending (TILA), and any other related mortgage lending rules.
- Communicate with appraisers about problems, corrections, and supplementary information while managing and maintaining the Bank’s appraisal site.
- Provide great customer service (internal and external) that meets each client’s unique demands and fosters loyalty to the bank.
- A mortgage loan application queue is managed by this person. Completes a complete risk analysis of mortgage loan applications, which involves reviewing legal documents, analyzing income (including self-employment and tax returns), and examining assets. Determine if the application meets the credit union’s portfolio or secondary market standards and, based on the results, grant or deny permission. If necessary, alternate approval criteria are proposed.
- Determine the overall risk of the loan application and effectively underwrite the loan utilizing lending rules and processes.
- Maintain a thorough understanding of loan product specifications and industry regulations, as well as aiding in the prevention, discovery, and resolution of mortgage fraud.
- 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.
- Responsible for remaining current on all secondary market standards, with a specific focus on the investors established with the credit union, such as FNMA, FHLMC, and FHLB. Responsible for conveying changes to these rules in a timely and effective way.
- Examines and analyses information on mortgage loan documentation to see if the buyer, the property, and the loan terms fulfil Credit Union and regulatory requirements.
Skills:
- Analytical and decision-making abilities are as crucial as the ability to communicate. Communication and problem solving skills are excellent both orally and in writing.
- 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 all required.
- CUDL 360 and Symitar, as well as Microsoft Excel and Word Processing, are all necessary skills.
- The applicant must understand the underwriting standards for conventional housing, FHA, VA, USDA, VHDA, and NC.