• Underwriter

    Work Location : Location US-GA-Atlanta
    Job Post Information* : Posted Date 2 months ago(4/13/2018 11:34 AM)
    ID
    2018-1421
    Category
    Operations
  • About Team Equity Prime

    Our team is the backbone to our growth and success. We operate at a high level in a fast-paced environment and ever-changing industry. We work hard and take pride in providing unparalleled service to our customers on their journey to homeownership. If you are looking for a rewarding and challenging career, Team Equity Prime might just be the place for you.

    The Position

    Underwriters review submitted loans to determine which are cleared to close. Underwriters provide thorough analysis and request documentation and conditions needed in order to underwrite files to meet product guidelines, industry standards, and company and investor requirements.

     

    Underwriters must have an in-depth knowledge of regulatory standards and have the ability to analyze a borrower's financial position to properly evaluate risk and issue decisions accordingly. Underwriters are key to our company's operations and are responsible for upholding our commitment to quality and accuracy. Underwriters report to the Vice President of Credit Risk.

    Responsibilities

    • Thoroughly evaluate borrower income relative to financial obligations, adequacy of credit quality and history, the source of funds, the security of the subject property, the loan terms, and ratios
    • Ensure that all required items are provided, validated/verified, and meet the program guidelines
    • Ensure accuracy of loan disclosures and documentation
    • Calculate Loan to Value (LTV) and other ratios accordingly
    • Run the file through Automated Underwriting Systems (AUS), such as DU/LP, when applicable
    • Review the application and information in the Loan Origination Software (LOS) for accuracy
    • Request items necessary to complete the submission or to qualify for the program
    • Review and clear conditions as received
    • Provide explanation to the Mortgage Loan Originator and/or Branch Manager in the case where a loan requires restructuring
    • Ensure that all relevant and necessary information needed is communicated and provided properly through the LOS including, but not limited to: Loan approval date, conversation logs, appraisal information, HMDA and Credit information, conditions, worksheets, MI, FHA, and VA when applicable, suspense, denial, and incomplete dates and milestones as appropriate, etc
    • Approve loans in accordance with appropriate terms, conditions, counter-offers if the term does not meet company lending standards and guidelines, and industry standards used by investors
    • Or, deny loans not meeting the terms, conditions, standards and guidelines previously referenced
    • Notify Processor and Mortgage Loan Originators of decision made

    Qualifications

    • Strong analytical and mathematical skills
    • Strong communication skills (verbal and written)
    • Self-starting, self-reliant, highly motivated and dependable
    • Efficient in time-management and ability to organize and prioritize tasks
    • Tech savvy and quick-learning

    Education

    • High school diploma required
    • College degree preferred

    Experience

    • Minimum of 5 years underwriting experience and 10 years of mortgage industry experience
    • Thorough understanding of secondary market guidelines (FNMA/FHLMC/GNMA)
    • Strong understanding of the mortgage process from origination through closing
    • Experience with AUS and knowledge of Mortgage Insurance expected

    Preferred Qualifications

    • Experience with Encompass LOS preferred
    • DE / LAPP certifications preferred

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