Underwriter Mortgage

About the Role:

The Underwriter plays a critical role in the Mortgage industry by evaluating and assessing mortgage loan applications to determine creditworthiness and risk. This position involves thorough analysis of financial documents, credit reports, and property valuations to ensure compliance with lending policies and regulatory requirements. The primary goal is to make informed decisions that balance risk management with customer service, facilitating the approval or denial of mortgage loans. The role requires collaboration with loan officers, clients, and other stakeholders to clarify information and resolve discrepancies. Ultimately, the Underwriter Mortgage ensures that mortgage loans are processed efficiently, accurately, and in alignment with company standards and industry regulations.

Minimum Qualifications:

• Minimum of 2 years experience in mortgage underwriting or a similar role within the finance industry.
• Strong knowledge of mortgage lending guidelines, credit analysis, and regulatory compliance.
• Proficiency in mortgage underwriting software and financial analysis tools.
• Excellent attention to detail and strong analytical skills.

Preferred Qualifications:

• Certification as a Certified Mortgage Underwriter (CMU) or similar professional designation.
• Experience with automated underwriting systems such as Desktop Underwriter (DU) or Loan Prospector (LP).
• Familiarity with federal and state mortgage lending regulations including RESPA, TILA, and ECOA.
• Strong communication and negotiation skills to effectively interact with clients and internal teams.
• Ability to manage multiple loan files simultaneously while meeting deadlines.

Responsibilities:

• Review and analyze mortgage loan applications, credit reports, income documentation, and property appraisals to assess risk and eligibility.
• Ensure all loan files comply with company policies, investor guidelines, and federal and state regulations.
• Communicate with loan officers, clients, and third-party vendors to obtain necessary documentation and clarify application details.
• Make informed underwriting decisions to approve, suspend, or deny mortgage loan applications based on risk assessment.
• Maintain accurate records of underwriting decisions and prepare detailed reports for management and audit purposes.

Skills:

The required skills enable the Underwriter Mortgage to meticulously evaluate financial documents and credit histories to make sound lending decisions. Analytical skills are essential for interpreting complex data and identifying potential risks or discrepancies in loan applications. Proficiency with underwriting software streamlines the review process and ensures accuracy in compliance checks. Communication skills are used daily to collaborate with loan officers and clients, facilitating the collection of necessary information and clarifying underwriting decisions. Preferred skills such as knowledge of regulatory frameworks and certification enhance the underwriter's ability to navigate complex legal requirements and improve overall decision quality.