Job Description
Job Description
Job Description
PURPOSE OF THE JOB
This position will underwrite mortgage loans ensuring compliance with appropriate company and secondary market investor guidelines. Examines loan documentation for accuracy and completeness and works with support and production staff to secure all required documentation. Have authority to withdraw and decline loans. May involve one or several types of mortgage lending underwriting (conventional, government, etc.).
MAIN DUTIES OF THE JOB
- Review Loan Transmittal and Mortgage Loan Application to ensure accuracy and completeness, validate findings to verify that all information matches. Instruct Mortgage Loan Originators and Mortgage Loan Processors on any errors for training purposes.
- Perform mortgage credit analysis, with or without the assistance of automated underwriting system, to determine borrower’s willingness and ability to repay the mortgage debt. Evaluate risk to ensure a prudent decision is made.
- Perform detailed review of appraisal for one-to-four family residential properties to determine acceptability of security for portfolio loans, loans sold to investors and HUD insurance and VA guarantee.
- Assess borrower creditworthiness, income, assets, and property appraisals to ensure compliance with FHA guidelines and HUD regulations.
- Review and analyze FHA loan applications and supporting documentation.
- Partner with sales and team leaders to ensure that credit decisions are made within targeted timeframes and meeting purchase contract deadlines.
- Review all origination files to ensure all loans are closed properly according to internal and external investors in a timely manner.
- Ensure that all fair lending and compliance policies are followed both in dealing with customers as well as the underwriting decisions that are made. Monitor all Secondary Investor, Government and MI guideline changes and determine effect on current and future loans.
- Approve or deny loans based on FHA criteria.
- Identify potential risk or red flags in loan files
- Support training efforts for all Mortgage staff.
- Advanced knowledge of conventional and government lending guidelines and documentation requirements.
- Strong knowledge of Home Bank’s products and services.
- Knowledge of loan policies and procedures and fundamentals of mortgage lending concepts.
- Thorough understanding of credit and an ability to review complex financial documents.
- Ability to meet production, quality, and service standards along with providing direct coaching and feedback to ensure quality.
- Ability to use discretion and analytical skills to detect inconsistencies or potential fraud.
- Ability to work in a fast-paced, high-volume environment, while practicing sound lending judgement.
- Ability to read and interpret supporting documentation and familiarity with required regulations.
- Provide guidance on FHA requirements and help resolve issues that arise during the underwriting process.
- Excellent organizational, managerial, communication, analytical and public relations skills required.
- Strong analytical ability to consider consequences of loan credit guidelines.
WHAT WILL YOU NEED TO SUCCEED
- Minimum 3 years underwriting, or equivalent mortgage lending experience required.
- Minimum of 5 years of FHA underwriting preferred.
- Direct Endorsement Certification preferred.
- Strong knowledge of FHA guidelines, regulations, and procedures related to mortgage insurance, credit analysis, property appraisals, and other relevant areas.
- Strong capacity to address credit related issues and points of risk to ensure that all loans meet quality assurance standards.
- Commitment to teamwork.
- Self-motivated.
- Time management skills and the ability to organize, prioritize and perform multiple tasks simultaneously.
- Ability to work extended hours as business needs require.
HOME BANK IS AN EQUAL OPPORTUNITY EMPLOYER
GOOD CREDIT IS A MUST
CREDIT REPORT IS REQUIRED FOR EMPLOYMENT
Job Tags
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