Conventional Underwriter
Gold Star Mortgage Financial Group, Corporation, Ann Arbor, MI, United States
Title Grade: I (Junior) or II (Senior)
Reports to: Underwriting Manager
Department: Credit Status: Full-Time
FLSA Status: Non-exempt Pay Grade: Salary (DOE)
SUMMARY & PURPOSE OF POSITION Our Credit Team is the primary player in making sure that our loans meet company, investor, industry, and regulatory standards. Underwriters are a wealth of knowledge on loan transactions, and the reason that Gold Star has become an industry leader in service and quality. Mortgage Underwriters pride themselves not only on paying close attention to detail, but also in serving as a resource for questions, scenarios, and to help ensure that our clients receive the “white glove treatment” of the industry. We seek individuals who have a strong desire to challenge themselves in a fast-paced, high energy atmosphere, and who have the resourcefulness to stand out among the best.
PRIMARY POSITION-SPECIFIC RESPONSIBILITIES
Carefully review loan applications, including all loan related documents and disclosures, including but not limited to: loan approval, 1003, URAR, income and asset information, reserves, tax information, GFE/TIL/LE/CD, and enter data completely and accurately into Gold Star’s LOS
Underwrite loans and review loan conditions for final approval, and provide explanation where appropriate for rationale behind credit decisions
Meet daily production goals for new underwrites and conditions
Where possible, identify and recommend alternative loan structures to find viable solutions for credit applicants
Utilize DO/DU/LP and other automated underwriting systems, properly verify and calculate income, assets, employment, and other pertinent loan information
Stay abreast of changing company policy, mortgage regulations, laws, and generally accepted industry best practices, and be willing to take initiative to train and stay informed
Field calls related to loan level questions, scenarios, and conditions, as well as provide thorough, detail oriented responses in a timely manner
For Senior Underwriters: underwrite and condition difficult files with atypical credit profiles
Complete other duties as assigned
ESSENTIAL SKILLS AND EXPERIENCE
High School Diploma or equivalent required
At least three (3) years of prior experience in underwriting or risk assessment required
Have a strong knowledge of all fair lending laws, net tangible benefit requirements, and laws for decisioning loan applications such as Truth in Lending, Equal Credit Opportunity, and their associated regulations
Solid understanding of lender/borrower paid compensation, TILA, RESPA guidelines and TRID
Direct Endorsement required for FHA loans and SAR for VA (Staff Appraisal Reviewer)
Strong understanding of investor and agency underwriting guidelines
Must have exceptional attention to detail and strong organizational skills
Must be dependable with meeting deadlines and managing time
Have an ability to work independently on multiple files simultaneously
Possess strong oral and written communication skills
PREFERRED EDUCATION/EXPERIENCE
Two year degree or vocational certification, preferably in finance, mathematics, or accounting, required; Bachelor’s degree strongly preferred
At least five (5) years of prior experience in underwriting or risk assessment preferred
Knowledge of Encompass 360, LexisNexis, CoreLogic, Mavent, and other fraud detection/ prevention systems preferred
PHYSICAL DEMANDS/ENVIRONMENT The environment is characteristic of an office setting. Must be able to execute complex tasks on time sensitive transactions, and be able to work flexible hours including some evenings (after 6:00pm) and weekends.
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Department: Credit Status: Full-Time
FLSA Status: Non-exempt Pay Grade: Salary (DOE)
SUMMARY & PURPOSE OF POSITION Our Credit Team is the primary player in making sure that our loans meet company, investor, industry, and regulatory standards. Underwriters are a wealth of knowledge on loan transactions, and the reason that Gold Star has become an industry leader in service and quality. Mortgage Underwriters pride themselves not only on paying close attention to detail, but also in serving as a resource for questions, scenarios, and to help ensure that our clients receive the “white glove treatment” of the industry. We seek individuals who have a strong desire to challenge themselves in a fast-paced, high energy atmosphere, and who have the resourcefulness to stand out among the best.
PRIMARY POSITION-SPECIFIC RESPONSIBILITIES
Carefully review loan applications, including all loan related documents and disclosures, including but not limited to: loan approval, 1003, URAR, income and asset information, reserves, tax information, GFE/TIL/LE/CD, and enter data completely and accurately into Gold Star’s LOS
Underwrite loans and review loan conditions for final approval, and provide explanation where appropriate for rationale behind credit decisions
Meet daily production goals for new underwrites and conditions
Where possible, identify and recommend alternative loan structures to find viable solutions for credit applicants
Utilize DO/DU/LP and other automated underwriting systems, properly verify and calculate income, assets, employment, and other pertinent loan information
Stay abreast of changing company policy, mortgage regulations, laws, and generally accepted industry best practices, and be willing to take initiative to train and stay informed
Field calls related to loan level questions, scenarios, and conditions, as well as provide thorough, detail oriented responses in a timely manner
For Senior Underwriters: underwrite and condition difficult files with atypical credit profiles
Complete other duties as assigned
ESSENTIAL SKILLS AND EXPERIENCE
High School Diploma or equivalent required
At least three (3) years of prior experience in underwriting or risk assessment required
Have a strong knowledge of all fair lending laws, net tangible benefit requirements, and laws for decisioning loan applications such as Truth in Lending, Equal Credit Opportunity, and their associated regulations
Solid understanding of lender/borrower paid compensation, TILA, RESPA guidelines and TRID
Direct Endorsement required for FHA loans and SAR for VA (Staff Appraisal Reviewer)
Strong understanding of investor and agency underwriting guidelines
Must have exceptional attention to detail and strong organizational skills
Must be dependable with meeting deadlines and managing time
Have an ability to work independently on multiple files simultaneously
Possess strong oral and written communication skills
PREFERRED EDUCATION/EXPERIENCE
Two year degree or vocational certification, preferably in finance, mathematics, or accounting, required; Bachelor’s degree strongly preferred
At least five (5) years of prior experience in underwriting or risk assessment preferred
Knowledge of Encompass 360, LexisNexis, CoreLogic, Mavent, and other fraud detection/ prevention systems preferred
PHYSICAL DEMANDS/ENVIRONMENT The environment is characteristic of an office setting. Must be able to execute complex tasks on time sensitive transactions, and be able to work flexible hours including some evenings (after 6:00pm) and weekends.
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