Collateral and Condominium Underwriter

Job Description

Job Description

Description:

Join Our Legacy Team!

We are currently seeking a Collateral and Condominium Underwriter.

Position Type: Full-Time

The Collateral Underwriter will be responsible for performing thorough condo warranty reviews and appraisal reviews to ensure compliance with agency requirements. The ideal candidate will have extensive experience in underwriting, with specific expertise in condo and appraisal review processes. This role requires a keen eye for detail, a deep understanding of agency guidelines, and the ability to make sound underwriting decisions.

Essential Functions Include:

• Review and resolve any collateral related investor suspense or repurchase demands.
• Conduct detailed condo warranty reviews to ensure compliance with agency standards, including Fannie Mae, Freddie Mac, FHA, and VA guidelines.
• Perform comprehensive appraisal reviews to assess the accuracy, credibility, and compliance of property valuations with agency requirements.
• Analyze and interpret complex documentation related to condo projects and appraisals, ensuring all information is accurate and complete.
• Collaborate with loan originators, processors, and other underwriters to address any issues or discrepancies related to condo and appraisal reviews.
• Maintain up-to-date knowledge of agency guidelines, industry regulations, and best practices in underwriting.
• Provide guidance and support to other team members on complex collateral issues.
• Review documents and coordinate reconsideration of value.

Desired Skills and Experience

• DE Certification (Direct Endorsement) required.
• LAPP/SAR (Loan Appraisal Processing Program/Staff Appraisal Reviewer) certifications preferred.
• Minimum of 5 years of experience in mortgage collateral underwriting, with a focus on condo warranty and appraisal reviews.
• Strong understanding of agency guidelines, including FHA, VA, Fannie Mae, and Freddie Mac.
• Experience with Fannie Mae Condo Project Manager, Collateral Underwriter, Freddie Mac Condo Project Advisor and Loan Collateral Advisor.
• Excellent analytical and decision-making skills.
• Ability to work independently and manage multiple tasks in a fast-paced environment.
• Strong communication and interpersonal skills.
• Proficiency with Encompass LOS

Legacy Mutual Mortgage is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, or national origin.