Job Detail

Residential Mortgage underwriter

Date Posted: Sep 18, 2020
Salary: Flexible
Mumbai, Maharashtra

Job Description

Shift: Night

 

Business Summary:

  •  Verity Global Solutions provides support in US Mortgages and ITES.

 

Job Summary:

  • Minimum 1 year experience in US mortgage underwriting,
  • Experienced and well versed with Agency guideline (Fannie Mae/Freddie mac/HUD)
  • This positions directly reports to BPO Manager

 

Responsibilities include:

  • Perform mortgage credit analysis, with or without the assistance of an automated underwriting system to determine Borrower’s willingness and ability to repay the mortgage debt.
  • Knowledge of FNMA, and FMLMC documentation and general guidelines/standards. Experience with FHA, VA and USDA is preferred, but not required.
  • Validate loan application and supporting documentation, and verify system of record reflects correct information. Update system of record when required.
  • Review and validate: income, asset, credit, title, value and fraud reports.
  • Ensure all required property information is in system.
  • Confirm government required documents are complete and accurate.
  • Review title information, and purchase contract, if applicable.
  • Run and review quality control tools – i.e. Fraud Guard and Early Check.
  • Run, review and interpret DU/LP/GUS/Total Scorecard, when applicable.
  • Document system with all dates and information.
  • Underwrite: Conventional, Jumbo, FHA, FHA 203k, VA, and USDA underwritten loans must meet all quality standards established by Fannie Mae, Freddie Mac, FHA, VA and USDA).
  • Maintain production standard goals as established by management.
  • Order and review MI based on loan program. Ensure that system of record matches MI certificate.
  • Approve/deny loans, and update the system accordingly
  • Underwrite loans when additional information has been received.
  • May occasionally be required to provide training for and mentoring team members
  • Answer and research general underwriting scenario and guideline questions via email and phone.
  • Complete all required underwriting, worksheet and checklists - i.e. Income Worksheet, QM/ATR checklist.
  • Assist in resolving branch post closing suspense issues.
  • Must be able to evaluate and analyze complex income tax returns to establish qualifying income.
  • Other duties as assigned
  • Calculate or validate income for self-employed borrowers or rental income.

 

 

Knowledge: 

  • Competent with MS office knowledge
  • Experience in handling a team
  • Detailed Knowledge of Loan Origination Cycle- Loan Application, Processing, Underwriting, Closing, Knowledge of different types of mortgage and its functioning
  • Knowledge of functions of Title companies
  • Basic knowledge of Federal laws
  • Should be able to explain the importance of critical closing documents
  • Should be able to understand the various laws in different parts of US related to mortgage.


 

 Skills & Ability:

  • Good verbal and written communication skills are required to understand and update comments and communicate with various stakeholders.
  • Eye for detail, reporting, people management, problem solving, handling escalations
  • Should have good analytical skills and have the ability to make decisions based on the situation.
  • Should be detail oriented.
  • Competent with MS office application 
    • Achievement Oriented
    • Analytical Thinking
    • Attention to Detail
    • Client Focus
    • Gathering and Processing
    • Interactive Communication  
    • Legislation Policies
    • Results Management
    • Stress Management
    • Using IT

 

Education Qualifications:

  • Bachelor’s Degree.

Popular Topics in Posts

ITES
MS Office

Job Details

  • Location
    Mumbai
  • Company
  • Employment Status
    Permanent
  • Employment Type
    Full Time
  • Positions
    20
  • Experience
    1 Year
  • Gender
    Any
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