Mortgage Underwriter 3

Job Summary:

A Mortgage Underwriter 3 reviews loan documents and appropriately decisions the mortgage loan by assessing financial risk, analyzing data, and making critical loan underwriting decisions. 

Main responsibilities:

• Reviews and evaluates loan documents to ensure accuracy, completeness, and compliance with company standards, federal and agency standards, and guidelines, as well as any applicable state-specific and or local regulations.
• Analyzes member’s loan-to-value ratio, debt-to-income ratio, credit report, application, income and assets, source(s) of down payment funds, and supporting documentation. 
• Determines if additional documentation or information would aid loan decision.
• Assesses the risk of lending and recommends appropriate loan conditions or declinations.
• Calculates key ratios (e.g., debt-to-income) and assesses credit history to determine the borrowers' ability to repay.
• Collaborates with loan originators and processors to obtain and clarify information, resolve application discrepancies, and obtain additional documentation as required.
• Supports and responds to questions from Mortgage Underwriter 1 and 2.
• Provides targeted solutions to meet the members’ needs.
• Answers Underwriting inquiries and provides detailed and accurate responses in a timely manner. 
• Verifies that system input is accurate and that company systems match Automated Underwriting System (AUS). 
• Serves as a member of the Credit Committee in setting loan amounts according to policy and in the approval/denial of loans. 
• Provides substantiating documentation and responses to audit inquiries, both internal and third party.
• Resolves majority of escalated issues of high complexity and associated risks or escalates to a Mortgage Underwriter 4 or Supervisor.
• Stays abreast of current regulations and industry trends that affect compliance and decision-making. 
• Performs other duties as assigned.
• Intermittent supervision required. 

Required Skills/Abilities:

• Excellent organizational skills and attention to detail.
• Strong proficiency with Microsoft Office applications. Familiar and comfortable with information technology, particularly digital means of communication.
• Strong analytical and problem-solving skills.  
• Thorough level of independent judgment and discretion

Knowledge:

• Strong working-level knowledge of overall mortgage lending processes, including underwriting, funding, and loan processing. 
• Strong working-level knowledge of valid documentation related to the processing of consumer mortgage applications (e.g., tax returns, financial statements, verification of income and deposits, etc.). 
• Strong-level knowledge of underwriting and regulatory requirements; detailed knowledge of federal, state, and regulatory requirements/guidelines related to consumer mortgage lending and internal processes and controls. 
• High level experience underwriting portfolio, and conventional residential mortgage loans.

Education and Experience:

• Minimum four years mortgage underwriting experience.
• Experience: Associate’s degree or certification in business or finance or related field, or more than four years of related experience in mortgage lending. 

Physical Requirements: 

• Prolonged periods of sitting at a desk and working on a computer.
• Must be able to lift 5 pounds at times.