Mortgage Underwriter I underwrites mortgage loan applications and evaluates loans in order to maximize organizational profit and minimize risk or loss. Monitors property appraisal process. Being a Mortgage Underwriter I assesses risks to determine approval status. May require a bachelor’s degree. Additionally, Mortgage Underwriter I typically reports to a supervisor or manager. The Mortgage Underwriter I works on projects/matters of limited complexity in a support role. Work is closely managed. To be a Mortgage Underwriter I typically requires 0-2 years of related experience.
Mortgage Underwriter Job Description Template
Our company is looking for a Mortgage Underwriter to join our team.
- Analysis of income, asset, credit, title and collateral information;
- Conduct risk assessments on potential clients based on previous borrowing history, credit rating, income and other factors;
- Clearly convey underwriting needs to client in order to effectively and properly complete underwriting analysis;
- Duties as assigned- full and complete job description will be provided;
- Maintain knowledge of all investor guidelines and confirm loans are in compliance;
- Review appraisals to ensure that the required level of appraisal fieldwork has been completed;
- Review flood certification;
- Review title prior to drafting documents to ensure all conditions have been cleared;
- Calculate qualifying ratios, determine creditworthiness; provide risk opinions;
- Underwrite and decision agency conforming and jumbo residential mortgage loans;
- Work to create a positive, supportive, and fun work environment;
- Work as a team with other underwriters, processors and mortgage bankers to help meet closing deadlines and provide an outstanding customer experience;
- Participate in departmental projects as required;
- Monitor Underwriting helpdesk mailbox;
- Clears conditions on file for final approval.
- Excellent computer skills and knowledge of MS Office products;
- Highly motivated and determined to succeed in a competitive, time-sensitive industry;
- Strong customer service and time management skills a must;
- Minimum of three (3) to five (5) years’ experience of mortgage underwriting;
- Manual mortgage underwriting experience;
- Ability to work independently in a fast-paced, high-volume environment;
- 5+ years experience underwriting conventional agency, government and jumbo products;
- FHA DE, VA Automatic or VA SAR designation is preferred but not required;
- Not afraid of rolling up your sleeves and helping execute outside of your day-to-day responsibilities;
- Experience with FNMA and FHLMC programs/systems;
- Non-conforming loan experience required;
- Exceptional organizational and time management skills;
- 1 to 3 years of new honebuilding experience required;
- Proficiency in evaluating complex income streams, including personal and business tax returns;
- Recent first mortgage experience required.