Mortgage Loan Underwriter

$86,632 - $138,424/Yr

Zillow Group - Remote, OR

Full-time - Mid Level

Onsite - Remote, OR

Real Estate

About the position

The Underwriter role at Zillow Home Loans is pivotal in ensuring that mortgage loan files comply with agency, company, and investor guidelines, thereby guaranteeing the salability of closed loans. This position involves a comprehensive analysis of mortgage applications, where the Underwriter will review resubmitted files and documents, make independent and compliant loan decisions, and document all findings in the Encompass Loan Origination System (LOS). The Underwriter is expected to maintain the company's service level and turn-time standards while ensuring confidentiality with sensitive information. Additionally, the role requires timely responses to audits and post-closing issues, as well as a thorough understanding of agency and investor guidelines, policies, and any regulatory or market changes. Collaboration is key in this role, as the Underwriter will work closely with processing staff to address underwriting deficiencies and calculation errors, as well as with loan processors to ensure acceptable credit documentation is provided. This position is categorized as remote, allowing employees to work from any physical location of their choice within the United States, with certain exceptions for specific states. The compensation for this role varies based on location, experience, and performance, with a competitive base salary and eligibility for equity awards.

Responsibilities

• Conduct thorough analysis of mortgage loan files to ensure compliance with agency, company, and investor guidelines.
• Review resubmitted files and documents for accuracy and compliance.
• Make and issue independent and compliant loan decisions based on analysis.
• Enter information into Encompass LOS to document and validate the file.
• Maintain company service level and turn-time standards for loan processing.
• Ensure confidentiality with private and sensitive information throughout the underwriting process.
• Respond to audits and post-closing issues in a timely manner.
• Maintain up-to-date knowledge of agency and investor guidelines, policies, and regulatory changes.
• Collaborate with processing staff on underwriting deficiencies and calculation errors.
• Work with loan processors regarding acceptable credit documentation.

Requirements

• A minimum of 5+ years of recent residential mortgage underwriting experience.
• 6+ years of experience in the mortgage industry.
• Ability to underwrite mortgage loan files for agency compliance and investor guidelines.
• Experience in reviewing and evaluating borrower profiles, including income documentation, personal and business tax returns, credit reports, preliminary title reports, and appraisals.
• Ability to manage a large pipeline and effectively handle pressure and tight deadlines.
• Strong analytical decision-making and problem-solving skills, with the ability to prioritize workload effectively.
• Ability to succeed in a fast-paced, high-stakes environment while maintaining high quality and production standards.
• Strong verbal and written communication skills, with the ability to develop and maintain professional relationships with peers and management.

Nice-to-haves

• Certifications preferred (FHA-CHUMS; VA-LAPP/SAR).
• Experience underwriting Jumbo loans preferred.
• Experience with recent manual underwriting.
• Experience in a medium to large size nonbank lender preferred.
• Encompass experience preferred.

Benefits

• Comprehensive medical, dental, and vision coverage.
• Life and disability insurance.
• Parental leave and family benefits.
• Retirement contributions.
• Paid time off and flexible work arrangements.