Emporium TPO

Underwriter

Position

Underwriter

Reports To: VP, Operations Manager

Job Summary: Responsible for ensuring that the incoming real estate loan applications are underwritten and documented. They should ensure that all documented applications in compliance with appropriate company, secondary market, and investor standards, as well as all applicable laws and industry standards.

Essential Job Functions

  • Review all mortgage applications and supporting documents to ensure all necessary information is included for approval.
  • Complete the underwriting of Agency, Non-Agency, Jumbo and non-QM sidential loans.
  • Research applicant’s employment and financial history to determine the accuracy, eligibility, and amount of income available to repay the loan.
  • Calculate the applicant’s debt-to-income ratio to determine if the loan meets the Qualified Mortgage standard.
  • Review the applicant’s credit report to ensure that all debts are properly accounted for in the applicant’s ability to repay, and that the loan meets the credit standards of the loan product requested.
  • Review the property appraisal to determine if the property type and condition meet the collateral requirements for the loan product requested.
  • Review and verify all supporting documentation to the loan application.
  • Document and communicate any and all reasons pertaining to the approval or denial of loan applications.
  • Analyze the loan risk and request additional information, if necessary, to ensure all loans approved meet the stated underwriting guidelines of the loan product requested.
  • Identify and record application deficiencies as required in rejecting a mortgage loan application.
  • Promptly respond to questions on loan files from salespeople, brokers, and operations staff.
  • Document in the LOS all relevant and required data to ensure there is a complete digital record of every loan that has been underwritten.
  • Rework loans, when needed, to determine new terms, additional conditions needed, or other factors that would result in the funding of a sound, credit eligible, compliant, and salable loan.
  • Assist in the preparation of repurchase responses and/or rebuttal reviews.

Essential Job Skills

  • Review all mortgage applications and supporting documents to ensure all necessary information is included for approval
  • Complete the underwriting of Agency, Non-Agency, Jumbo, and Investor residential loans
  • Research applicant’s employment and financial history to determine the accuracy, eligibility, and amount of income available to repay the loan
  • Calculate the applicant’s debt-to-income ratio to determine if the loan meets the Qualified Mortgage standard
  • Review the applicant’s credit report to ensure that all debts are properly accounted for in the applicant’s ability to repay and that the loan meets the credit standards of the loan product requested
  • Review the property appraisal to determine if the property type and condition meet the collateral requirements for the loan product requested
  • Review and verify all supporting documentation for the loan application
  • Review and approve or reject all documentation provided to clear underwriting conditions
  • Document and effectively communicate the reasons for the approval or denial of loan applications
  • Analyze the loan risk and request additional information, if necessary, to ensure all loans approved meet the stated underwriting guidelines of the loan product requested
  • Identify and record application deficiencies as required in rejecting a mortgage loan application
  • Promptly respond to questions on loan files from salespeople, brokers, and operations staff
  • Deliver exceptional customer service on every loan at every opportunity
  • Document in the LOS all relevant and required data to ensure there is a complete digital record of every loan that has been underwritten
  • Recommend opportunities for process or communication improvement to sales & operational management
  • Assist with the needs of Account Managers, Document Drawers, Closers, and Account Executives
  • Be knowledgeable of all loan product guidelines offered by the company, DU/LP guidelines, and risk assessment tools used to properly decision residential mortgage loans
  • Rework loans, when needed, to determine new terms, additional conditions needed, or other factors that would result in the funding of a sound, credit eligible, compliant, and salable loan
  • Assist in the preparation of repurchase responses and/or rebuttal reviews
  • Communicate regularly with the sales team
  • Serve as a role model to peers and other employees by acting with integrity and in an ethical manner in all respects

Qualifications and Experience

  • 5 years of previous experience underwriting residential loan products.
  • 3 years of experience underwriting Agency, Non-Agency, Jumbo, and minimum 1-year experience underwriting non-QM loans.
  • Bachelor’s Degree in Business Administration, Banking, Finance, or a related field or 5 years experience in mortgage underwriting.
  • Extensive knowledge of the guidelines for Agency, Non-Agency, Jumbo, and non-QM products.
  • Be knowledgeable of all loan product guidelines offered by the company, DU/LP guidelines, and risk. assessment tools used to properly decide on residential mortgage loans.
  • Strong analytical and decision-making/problem-solving skills.
  • A keen eye for accuracy, attention to detail, and the ability to handle a high-volume workload.
  • Excellent interpersonal, organizational, prioritization, and time management skills.
  • Experience working in a paperless environment.
  • Demonstrated appraisal review and complex self-employed tax return analysis skills.
  • Ability to meet deadlines, deliver effective results, and high-quality products with minimal supervision.
  • Possess clear, concise, and effective written and verbal communication skills.
  • Ability to support and work across all business channels in underwriting (Wholesale, Correspondent), as needed.
  • Experience with repurchase responses and/or rebuttal review and response is preferred

If you do not meet all of the requirements listed in this job description, we still encourage you to apply! We carefully review every application and consider all projects, education, and certifications in addition to professional experience.

Emporium TPO is an equal opportunity employer. All candidates will be equally considered for employment regardless of age, sex, gender identity, sexual orientation, national origin, citizenship, race, religion, veteran status, or disability.

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