Bay Equity - Austin, TX
posted 5 months ago
The Collateral Underwriter position at Bay Equity is a full-time remote role responsible for analyzing and evaluating appraisals to ensure compliance with lending standards and program guidelines. The ideal candidate will have a strong background in mortgage underwriting, particularly in appraisal underwriting, and must possess current FHA DE and/or VA SAR certifications. This role requires a thorough understanding of the loan process, as well as familiarity with FNMA, FHMLC, FHA, and VA guidelines. The candidate should demonstrate strong organizational skills and accuracy, with the ability to thrive in a fast-paced team environment. In this position, the Collateral Underwriter will be tasked with reviewing and underwriting collateral to ensure that appraisals meet investor and program criteria. The minimum expectation is to review 8-10 appraisals per day, with a turnaround time of 24 hours or as determined by the underwriting manager. Responsibilities include reviewing FNMA CU findings, assessing appraisal comparable selections, and confirming that appraisals are completed to the required standards. The underwriter will also be responsible for requesting and reviewing appraisal revisions, desk reviews, and field reviews, ensuring accuracy and consistency against title, flood certifications, and purchase agreements. The role demands timely and professional communication with branches regarding appraisal decisions, including conditions, suspensions, or denials, along with detailed reasoning. The Collateral Underwriter must also respond promptly to findings from PFQC and Post Close, maintaining a high level of professionalism throughout. Other duties may be assigned as necessary, and the candidate should be prepared to handle high volumes of work while meeting productivity standards.