Jr. Underwriter

A junior underwriter supports the underwriter during the mortgage process by gathering all of the information necessary to submit the file to underwriting, including review of the credit file (credit reports, income, tax returns, financial statements etc.), the review of appraisal reports, real estate titling, inspection reports, review of collateral assessment reports such as AVMs and appraisals, review of title searches and commitments and disclosures as they may be required during different stages of the process.

Responsibilities

• Serves as main point of contact for Loan Officer/ Processor to ensure a smooth experience through closing by setting proper expectations
• Work closely with loan officer/processor to review and discuss needed conditions for approval
• Review and verify documents in loan files, such as credit reports, loan applications, title policies, appraisals, and financial statements are current and accurate
• Prioritize, track, and manage the loan underwriting process in order to meet deadlines and ensure timely submission to the underwriting team
• Work closely with the underwriting team to determine credit worthiness
• Sign off on certain underwriting loan conditions according to underwriting guidelines
• Pre Underwrite and scrub files before they go into Underwriting to ensure minimum submission documents are received by product type
• Document lending decisions and complete required screens in Meridian Link Mortgage that include the accurate completion of the 1003 adding and/or creating applicable conditions of the loan approval
• Anticipate and be proactive on conditions needed before a file goes into Underwriting
• Effectively communicate with all parties throughout the loan process
• Review documentation received for discrepancies, omissions, verified income calculation, asset verification, and updates based on verified information and immediately notify Loan Officer/Processor when any discrepancies are found on the documentation
• Partner with Loan Officer/Processor in resolving problems in files and documents
• Ensure files are complete and set-up in accordance with Company policy and procedures
• Efficiently meet deadlines/closing dates while maintaining pipeline of multiple loans
• Responsible for ordering fraud report, flood certs, and 4506-C (on required products
  
  
  

COMPLIANCE:

• BSA Compliance - every employee is required to uphold the banks compliance with the Bank Secrecy Act and anti-money laundering policies and procedures. Specific functions within Community Savings will take into consideration the awareness of unusual or suspicious activity that is relevant to the department.
• In addition to any other assigned training courses, online BSA and OFAC courses must be completed at least annually, as made available by the Training and/or Compliance Departments.
• Maintains comprehensive knowledge of the Bank Secrecy Act, Customer Identification Program, USA Patriot Act, OFAC, and Fair Lending Act, RESPA-TILA, HOEPA, HMDA, Fact Act and others pertaining to the mortgage industry
  
  
  

Qualifications

• An understanding of real estate terminology, mortgage lending practices, and mortgage loan requirements for Non-Agency is a plus
• Minimum two years of processing experience with basic underwriting experience
• Applicant must possess strong attention to detail, data analysis, and excellent decision-making skills
• Applicant must possess excellent customer service, interpersonal, and communication skills
• Excellent Oral and Verbal communication skills
• Demonstrated ability to plan and organize
• Demonstrated reasoning ability to collect data, establish facts and draw conclusions
• Demonstrated ability to plan, schedule and coordinate work of others
• High integrity and outstanding work ethic
• Ability to work in a fast paced, fluid environment and be held to meet minimum production standards.
• Must have proficient written and verbal communication skills
• Proven knowledge of compliance and disclosure requirements
• Must have the ability to maintain highly confidential information
• Must be able to demonstrate strong analytical skills, and the ability to demonstrate initiative and ability to take action on information and resolve non-routine issues using sound business judgment.
• Strong knowledge of Microsoft Office products, including Word, Excel, Outlook
• Knowledge of Meridian Mortgage Link a plus