Live Underwriter

Job Overview

The Conventional Underwriter reviews, conditions and underwrites mortgage loans in accordance with established policies and procedures and appropriate guidelines; examines all documentation for accuracy and completeness.

Key Required Skills:

• Candidate must have experience in live underwriting, Real Time Analysis.
• Excellent at Income Calculation and Debt-to-Income(DTI) Ratio Calculation.
• Expertise in 4Cs framework (Credit, Capacity, Collateral and Capital),
• Familiar in Credit report Analysis & LOX (Letter of Explanation).
• Knowledge on Residential Mortgage- Credit Bureau, Documents to approve the loan, Familiar with different account types.

Job Roles and Responsibilities:

• Review and analyse the mortgage loan application to ensure eligibility, accuracy, completeness, and compliance with internal and regulatory guidelines to minimize risk factors.
• Review all required loan data, reports, and inspections to insure the collateral is acceptable to investor and the company.
• Knowledge of Lending & Underwriting Guidelines | Credit & Income Analysis | Cash Flow Analysis | Risk Assessment | Loan-to-Value Ratios | Debt-to-Income Ratios.
• Review Initial application – Verify loan, property, borrowers’ information with other available documents – Verify borrower’s monthly income and expenses – Verify other relevant sections.
• Review all the documents related to borrower’s Credit, Capacity, Collateral and Capital.
• Calculate asset required for closing and reserve purpose for the transaction (as per guideline)
• Responsible for making independent decisions regarding acceptance and risk of loans according to HUD, company, and investor guidelines.
• Provides final approval underwriting of mortgage loans.
• Completes all required paperwork and forms in a timely and accurate manner; prepares required forms.
• Sign off conditions in a timely manner set by management.
• Work with staff and management to find solutions on escalated loans.
• May be requested to make recommendations for improving Internal Audit’s policies and practices.
• Manage loans by using all functions of Encompass.
• Effectively communicate underwriting decisions with processors and advisors
• Maintain high level of customer service and communication with other departments.
• Other duties as assigned.

Qualification & Experience:

• Degree or Equivalent
• Recent 2+ years of experience in Live Underwriting.
• Minimum 4 years of experience in conventional/govt end to end underwriting.
• Well-versed with all 4C’s of Underwriting (Asset, Income, Credit and Collateral)
• US Mortgage Process (Only Night Shifts)
• Remote.

Required Skills

4C’s Framework, Income Calculation, Debt-To-Income (DTI) Ratio Calculation, Live Underwriting, Credit Report Analysis, LOX, Credit Bureau, Documents To Approve The Loan