Mortgage Underwriter

$49,920 - $99,840/Yr

Howard Hanna Real Estate Services - Mayfield Heights, OH

Full-time

Mayfield Heights, OH

Real Estate

About the position

The Mortgage Underwriter position at Howard Hanna Real Estate Services is a critical role responsible for the prudent underwriting of all Conventional, FHA, and VA loans originated by the company. The underwriter will ensure that all parties involved in the loan process are kept informed of the prevailing policies and procedures related to Conventional, FHA, and VA compliance. This role requires maintaining up-to-date knowledge of the relevant policies and procedures, as well as reviewing quality control findings to ensure adherence to guidelines. In this position, the underwriter will conduct thorough analyses of loan files to determine compliance with company standards and the specific guidelines for Conventional, FHA, and VA loans. This includes evaluating the entire credit package and collateral to ensure that the loans meet the investment quality standards set by the company. The underwriter will also be responsible for checking the accuracy of all calculations and exercising judgment in determining compensating factors for borderline cases. Additionally, the role involves analyzing loan packages for any signs of fraudulent documentation or misrepresentation. The underwriter will assist in training new originators and processors on the guidelines for Conventional, FHA, and VA loans, ensuring that all staff are well-informed of any changes or updates in appraisal and credit underwriting. A productivity level of 5 to 10 loans per day is expected, with compliance to a 24 to 48-hour underwriting turnaround time and a 24-hour turnaround time for clearing conditions. The underwriter will maintain activity logs and provide monthly reports on underwriting activities, while also being available to answer questions from processors, originators, and closers regarding guideline interpretations. Communication of loan decisions to relevant parties, both verbally and in writing, is a key aspect of this role, along with timely responses to post-closing reviews and audits.

Responsibilities

• Complete a thorough analysis of Conventional, FHA, and VA loan files to determine compliance with company and Conventional, FHA, and VA guidelines.
• Evaluate the entire credit package and collateral for Conventional, FHA, and VA residential mortgage loans to ensure an 'investment' quality loan product.
• Check accuracy of all calculations related to loan underwriting.
• Determine compensating factors on borderline cases and base decisions on those factors.
• Analyze loan packages for signs of fraudulent documentation and/or misrepresentation.
• Assist with training of new originators and processors on all Conventional, FHA, and VA guidelines.
• Stay updated on changes in appraisal and credit underwriting for Conventional, FHA, and VA guidelines and communicate updates to staff and managers.
• Maintain a productivity level of 5 - 10 loans per day and comply with company policy for underwriting turnaround times.
• Maintain underwriting activity logs and provide monthly underwriting reports.
• Be available to processors, originators, and closers for general guideline interpretations and questions on loan files.
• Communicate decisions on loans to appropriate parties both verbally and in writing.
• Respond to post-closing reviews and audits in a timely manner.
• Perform other duties as directed by the supervisor or management.

Requirements

• FHA Director Endorsement and VA Automatic Authority.
• Minimum of 3 years residential underwriting experience with solid working knowledge of Conventional, FHA, and VA and FNMA/FHLMC/FMHA appraisal and underwriting guidelines.
• Good oral and written communication skills.
• Analytical ability with an aptitude for figures.
• Ability to effectively interact with all company personnel.
• Ability to work effectively under specific time constraints.
• Detail-oriented.