18 Mar 2023
Full-Time Underwriter – Shrirampur
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 : Underwriter
Location : Shrirampur, West Bengal, India
Salary : $ 28.9 per hour.
Company : Regions Bank
Job Type : Full-Time
- Informed Mortgage Originators of underwriting decisions as quickly as feasible.
- Demonstrate the ability to reach independent decisions regarding applicants’ creditworthiness based on existing underwriting criteria, Bank policies, processes, knowledge, and experience.
- Responsible for staying up to date on all secondary market requirements, with a special focus on the credit union’s established investors, such as FNMA, FHLMC, and FHLB. Changes to these guidelines must be communicated correctly and promptly.
- Communicate with appraisers on mistakes or corrections, as well as additional information, while managing and maintaining the Bank’s appraisal site.
- 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.
- To ensure compliance with all state, municipal, and federal standards, including but not limited to the Truth in Lending Act (TILA), the Real Estate Settlement Procedures Act (RESPA), and the Ability to Repay (ATR) and Qualified Mortgage (QM), as well as any other relevant mortgage lending rules.
- Provide excellent internal and external customer service that fits each client’s individual needs and develops bank loyalty.
- Determine the amount of risk in the total loan application and underwrite the loan successfully using lending regulations and processes.
- Do your best to keep up with all of the rules and regulations in your field, including how to stop, find, or solve mortgage fraud.
- Examines and analyses data on mortgage loan documents to determine whether the buyer, the property, and the loan conditions meet Credit Union and regulatory standards.
- -3 years of mortgage underwriting experience, or a comparable mix of education and experience is desirable.
- Underwriting standards for conventional, FHA, VA, USDA, VHDA, and NC must be well-understood.
- Outstanding interpersonal, organizational, and communication abilities are required.
- CUDL 360 and Symitar, as well as Microsoft Excel and Word Processing, are required.
- The ability to effectively communicate, analyze, audit, research, and make decisions are all critical. Excellent verbal and written communication and problem-solving skills.