NON-QM UNDERWRITER
Location
Gandhinagar, Gujarat
Benefits
Pulled from the full job description
Full job description
EXPERIENCE AND KNOWLEDGE
Experience of more than 3 to 5 Years in US Mortgage Industry and minimum 2 years in core Underwriting.
Well versed with all 4 Cs of Underwriting
Knowledge of Non-Agency/Non-QM (Jumbo loans) underwriting guidelines demonstrated through a minimum of 1+ years’ experience of Manual underwriting.
Knowledge of major Non-QM lenders’ guidelines such as Chase, Wells Fargo, US Bank etc.
Knowledge of Bank statement only programs, asset-based income programs is added advantage.
In depth knowledge of Agency guidelines for Conventional loans (FNMA & FHLMC), FHA, VA, USDA etc will added advantage.
Detailed understanding of Mortgage documents including Income, Credit, Asset, Appraisal, other underwriting and compliance documents.
Knowledge of income, LTV and DTI ratios calculation.
Knowledge of multiple mortgage processing software like Encompass. Empower etc. will be added benefit.
Excellent written and oral communication skills in addition to interpersonal skills.
Strong problem-solving and analytical skills.
Ability to work independently, with minimal supervision.
Good working knowledge of MS Outlook and Office application.
Ability to research and provide accurate resolution to queries and escalations.
DUTIES AND RESPONSIBILITIES :
Live/Post Close Manual Underwriting/QC of loan files as per Fannie Mae, Freddie Mac, Client/Investor (Chase, Wells Fargo, US Bank etc.) guidelines as required.
Reviewing the Borrower profile including Credit, Income, Assets, Collateral, Compliance and other Lending risks such as interested party involvements as per agency/investor guidelines.
Reviewing loan files thoroughly to assess the risks associated with loans and providing approval/denial basis on the information provided.
Reviewing all types of incomes (salaries, rental and self-employed) documents to determine the appropriate and reliable amount of income to be used for qualifying the borrowers.
Assessing borrowers’ creditworthiness by reviewing their Credit Reports and by other credit documents.
Determining the acceptability of subject property as per required guidelines by reviewing Title and Appraisal Report.
Reviewing Asset documents to verify borrower’s net worth and liquidity for cash to close and reserve requirements.
Reviewing all other documents related to underwriting, identifying red flags for the compliance to State and Federal laws.
Identifying the derogatory events/accounts associated with borrowers to comply with the waiting period requirements.
Providing recommendation based on the loan review such as Approved, Suspend and Denied/Ineligible etc.
Maintain the reports as required by the process and management. Providing training and assistance to junior team members. Educational Qualification Graduate in any Stream.
Job Type: Full-time
Benefits:
Cell phone reimbursement
Commuter assistance
Health insurance
Life insurance
Provident Fund
Work from home
Schedule:
Night shift
US shift
Work Location: In person