Sr. Underwriter - DE / VA SARS - FT41043
Title
Sr. Underwriter - DE / VA SARS
Position Type
Perm
Industry
Financial Services
Number of Positions
2
Start Date
asap
Salary
$85K - $95K base + OT
Location
Sacramento, CA
United States
Travel Percent
N/A
Relocation Assistance
Negotiable
Years Experience
7
Job Description
Underwrite Conventional, FHA, VA, USDA, new construction and condominium projects. Perform underwriting tasks to ensure compliance with Company, secondary market investor, and government agency standards. Approve or deny loans based on compliance with underwriting standards and risk management factors. Ensure all tax, title, insurance and closing documentation is accurate and complete. Go to subject matter expert/lead when Supervisor or Manager is not available.
KEY RESPONSIBILITIES:
Review and evaluate loan documents to ensure accuracy, completeness and compliance with Company standards, federal and agency standards, and guidelines, as well as any applicable state-specific and or local regulations, ordinances, etc.
Analyze loan-to-value ratio, debt-to-income ratio, credit report, application, income and assets, source(s) of down payment funds and examine supporting documentation to identify potential fraud or misrepresentation.
Review appraisal to ensure that loan meets secondary market, investor and company standards.
Communicate requests and status to loan processors and loan officers in order to obtain information to finalize incomplete loan packages.
Determine and request additional documentation to support value and decisions as needed.
Provides options with in guidelines and makes recommendations if borrowers may qualify for suitable programs.
Stay current with regulations and industry that affect compliance and decision-making.
Evaluate overall loan against approval requirements; ensure file is complete and contains all required supporting documentation.
Coach and provide guidance to less experienced Underwriters as needed.
Ensure system input is accurate and that company systems match Automated Underwriting System.
Must Haves
DE-certified; endorsements including Direct, VA, Auto and SAR; must have current certifications for any assigned region that requires a state-specific license to underwrite loans.
Expert level knowledge of overall mortgage lending processes, including underwriting, funding and loan processing.
Expert level knowledge of valid documentation related to the processing consumer mortgage applications (e.g., tax returns, financial statements and records, verification of income and deposits, etc.).
Expert level knowledge of underwriting requirements.
Sound judgment, ability to think critically, including the ability to evaluate facts and data to draw conclusions, determine the downstream impact of decisions and associated risks.
Ability to prioritize multiple tasks in a deadline-driven environment; strong sense of urgency and responsiveness.
General knowledge of federal, state, and regulatory requirements/guidelines related to consumer mortgage lending and internal processes and controls.
Intermediate math skills.
Strong verbal and written communication skills.
Strong detail orientation and highly organized.
Prior experience using internal data entry systems, Microsoft Word, Excel and PDF/Document Retention programs
High school diploma or equivalent required; college courses/technical training related to Business, Finance/Accounting, Legal, or related field is preferred, along with total recent work experience that includes four or more years as an Underwriter for Conventional, and USDA loans, along with at least three years experience underwriting VA, USDA, new construction documentation and approvals for condominium projects.
Title
Sr. Underwriter - DE / VA SARS
Position Type
Perm
Industry
Financial Services
Number of Positions
2
Start Date
asap
Salary
$85K - $95K base + OT
Location
Sacramento, CA
United States
Travel Percent
N/A
Relocation Assistance
Negotiable
Years Experience
7
Job Description
Underwrite Conventional, FHA, VA, USDA, new construction and condominium projects. Perform underwriting tasks to ensure compliance with Company, secondary market investor, and government agency standards. Approve or deny loans based on compliance with underwriting standards and risk management factors. Ensure all tax, title, insurance and closing documentation is accurate and complete. Go to subject matter expert/lead when Supervisor or Manager is not available.
KEY RESPONSIBILITIES:
Review and evaluate loan documents to ensure accuracy, completeness and compliance with Company standards, federal and agency standards, and guidelines, as well as any applicable state-specific and or local regulations, ordinances, etc.
Analyze loan-to-value ratio, debt-to-income ratio, credit report, application, income and assets, source(s) of down payment funds and examine supporting documentation to identify potential fraud or misrepresentation.
Review appraisal to ensure that loan meets secondary market, investor and company standards.
Communicate requests and status to loan processors and loan officers in order to obtain information to finalize incomplete loan packages.
Determine and request additional documentation to support value and decisions as needed.
Provides options with in guidelines and makes recommendations if borrowers may qualify for suitable programs.
Stay current with regulations and industry that affect compliance and decision-making.
Evaluate overall loan against approval requirements; ensure file is complete and contains all required supporting documentation.
Coach and provide guidance to less experienced Underwriters as needed.
Ensure system input is accurate and that company systems match Automated Underwriting System.
Must Haves
DE-certified; endorsements including Direct, VA, Auto and SAR; must have current certifications for any assigned region that requires a state-specific license to underwrite loans.
Expert level knowledge of overall mortgage lending processes, including underwriting, funding and loan processing.
Expert level knowledge of valid documentation related to the processing consumer mortgage applications (e.g., tax returns, financial statements and records, verification of income and deposits, etc.).
Expert level knowledge of underwriting requirements.
Sound judgment, ability to think critically, including the ability to evaluate facts and data to draw conclusions, determine the downstream impact of decisions and associated risks.
Ability to prioritize multiple tasks in a deadline-driven environment; strong sense of urgency and responsiveness.
General knowledge of federal, state, and regulatory requirements/guidelines related to consumer mortgage lending and internal processes and controls.
Intermediate math skills.
Strong verbal and written communication skills.
Strong detail orientation and highly organized.
Prior experience using internal data entry systems, Microsoft Word, Excel and PDF/Document Retention programs
High school diploma or equivalent required; college courses/technical training related to Business, Finance/Accounting, Legal, or related field is preferred, along with total recent work experience that includes four or more years as an Underwriter for Conventional, and USDA loans, along with at least three years experience underwriting VA, USDA, new construction documentation and approvals for condominium projects.