Senior Government Underwriter

Underwriter III

Why Silverton Mortgage:

We are a people first organization that was voted a top place to work by the Atlanta Journal and Constitution and the Financial Services Industry

We believe in giving back and we do so through The Silverton Foundation

Our strong communication skills drive customer satisfaction

We offer extensive product lines and maintain an in-house loan process that offers a competitive edge

We have fun!

Job Summary:

The Underwriter III reviews and evaluates conventional, FHA, VA, USDA, and specialty product loans to determine credit worthiness of the borrower, assess risk to the Company, and ensure compliance with federal, state, and Company lending guidelines and regulations. This role is responsible for providing consistency in credit quality and decisions, process flow, and customer service (both internal and external) when determining mortgage loan approval.

Job Functions:

Loan File Review:

• Credit Analysis:
• Reviews the borrower's credit history to assess their credit worthiness and ability to repay. This includes looking at the borrower's credit report, credit scores, and payment history, debt-to-income ratios, and other financial criteria.
• Asset & Debt Evaluation:
• Verifies borrower's assets (e.g., savings, investments, real estate holdings) to ensure sufficient funds.
• Checks for existing debt and/or loans that may impact repayment.
• Considers the borrower's ability to make monthly mortgage payments, based on their income, employment status, and debt-to-equity ratio.
• Confirms borrower's income and certifies income calculations.
• Collateral Review:
• Reviews title reports to confirm legal ownership, as well as any liens or encumbrances on the property.
• Reviews the appraisal to evaluate the condition of the property being financed.
• Risk Assessment:
• Uses automated underwriting systems for initial risk scoring.
• Performs manual underwriting for complex cases and analyzing compensation factors.
• Manages risk and prevents fraud in the lending process by identifying and addressing any potential red flags in the loan application and supporting documents.

Loan Program and Compliance Check:

• Confirms loan meets lender & regulatory guidelines (e.g. conventional, FHA, and VA loan requirements)
• Ensures compliance with federal & state lending laws (e.g., Truth in Lending Act, Equal Credit Opportunity Act).
• Reviews all documentation in the file to ensure it meets applicable agency or investor guidelines.

Loan Approval:

• Issues a conditional approval if additional documentation or explanation is required.
• Documents underwriting decisions in the Loan Operating System regarding approval to assist with post-closing, quality control, or management, should questions arise.
• Communicates with Loan Originators, Processors, and Closers that loan is CTC (Clear to Close).

Administration & Communication:

• Works with Loan Originators, Processors, borrowers, and other stakeholders to answer and/or clarify any questions or concerns regarding underwriting decisions, guidelines or conditions.
• Assists with internal/external audit requests.
• Stays abreast of current trends in the mortgage industry (investor, agency, and government guidelines), changes in regulations and market conditions to ensure that underwriting processes remain current and effective.
• Communicates with Loan Originators, Processors, and other team members regarding underwriting decisions, guidelines, and conditions.
• Assists with internal/external audit requests.

Requirements and Qualifications:

Education: High school diploma or equivalent required. College degree preferred.

Years of Related Experience: Minimum of 5 years' experience underwriting conventional, FHA, and VA mortgage loans.

Licenses/Certifications: Direct Endorsement (DE); Staff Appraisal Reviewer/Lender Appraisal Processing Program (SAR/LAPP), VA Credit Authority

Knowledge, Skills and Abilities (KSAs):

• Excellent understanding of investor, agency and government guidelines and systems.
• Excellent written and verbal communication skills along with solid computer skills.
• Analytical thinker and consultative mind to support both team members and managers in all areas of the business.
• Goal-oriented, self-motivated with the capacity to meet and exceed assigned goals.
• Willing to learn, industrious, determined, and assertive.
• Excellent organizational skills and the ability to multitask to complete a wide variety of tasks.
• Strong people skills with ability to interact with all internal teams and external customers.
• Must be able to maintain sensitive and confidential information.
• Diligence to ensure tasks are completed thoroughly and on time.

Silverton Mortgage is committed to creating an inclusive workplace. Silverton Mortgage is an equal opportunity employer and does not discriminate on the basis of race, national origin, gender, gender identity, sexual orientation, protected veteran status, disability, age, or other legally protected status.