The following job description is designed to summarize certain essential job information. It is not designed to be a comprehensive or detailed task list for any particular job. This job may have individual or multiple incumbents, each of whom may perform somewhat different specific job duties or tasks consistent with the general function of the job. Incumbents may be required to perform duties or support functions other than those listed on this job description. The Company may amend a job description at any time with or without notice.
An Underwriter renders a final decision (approval, disapproval, approval with conditions) for mortgage loan applications in a timely, accurate and compliant manner. An Underwriter reviews loan applications based on factors such as capacity, credit history, capital, and collateral in compliance with company policy, contracts, investor guidelines, lending programs and state and federal law and regulation.
ESSENTIAL JOB FUNCTIONS
Describe the essential functions for which the Job is accountable. Essential Functions are those specific and unique to this position and when removed changes the nature of the job itself.
- Underwriting Decisions – Render a final underwriting decision (approved, suspend, denied) for mortgage loan applications based on factors such as capacity, credit history, capital and collateral. Master underwriting rules from multiple sources and apply them accurately and consistently to individual loan applications. Formulate approval conditions, as appropriate.
- Documentation (Review and Verification) – Review each loan file to verify documents are present, accurate, accurately calculated, compliant and sufficiently complete for an underwriting decision. Review and reach an underwriting decision on the appraisal.
- Communication (Internal) – Accurately answer questions from and educate loan officers, loan processors, and other appropriate personnel about underwriting rules and how they apply to individual loan applications. Review and answer loan scenario questions from loan officers.
- Computer Skills – Perform necessary computer-based functions for both internal and external IT systems. Conduct online research. Prefer ability to underwrite in a paperless environment.
- Deadlines – Consistently hit ongoing tight deadlines with regard to underwriting, closing, etc.
- Compliance – Meet rules, obligations, timelines, and deadlines to comply with company policy, contracts, investor guidelines, lending programs and state and federal law and regulation.
- Other duties as assigned.
FUNCTIONAL JOB COMPETENCIES
Job Competencies are an additional component to defining a job that addresses how we do things. Just as every job requires specific and unique job skills and knowledge, different jobs require specific job competencies to perform successfully.
- Excellent verbal and written communication skills
- Excellent analytical skills
- Professional and leadership qualities
- Ability to maintain confidentiality
- Planning and organizing skills
- Attention to detail
- Interpersonal skills
- Multi-tasking skills
- Basic math skills
EDUCATION / EXPERIENCE REQUIREMENTS
What level of education or specialized training is required to perform the job?
- Graduation from a 4-year college or university with major course work in a discipline related to the requirements of the position preferred but not required.
List any special certifications, licenses, and/or knowledge requirements for this job:
- Proficient in Microsoft Office Suite
- FHA Direct Endorsement (DE) approved.
- Veterans Administration (VA) Lender Appraisal Processing Program (LAPP) preferred but not required.
How many years of directly related job experience are required to be qualified to enter the job?
- 3+ years of directly related experience and training
PHYSICAL REQUIREMENTS/WORKING CONDITIONS
The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Individuals may need to sit or stand as needed; may require walking, primarily on a level surface, throughout the day; reaching above shoulder heights, below the waist or lifting as required to file documents or store materials; proper lifting techniques required; may include lifting up to 25 pounds for files or paper.
Note any additional physical requirements for the job (e.g. heavy lifting requirements).
- General office environment
- No special physical requirements