Position Overview |
The TPO Underwriter evaluates and determines a credit decision and the eligibility of loan applications.  Exercising sound independent judgment based on detailed analysis, the Underwriter is responsible for analyzing and verifying loan applications, evaluating risk, and making loan eligibility decisions ensuring that all documentation follows the relevant regulations. |
Major Areas of Responsibility include: |
- Manually reviews loan application, loan documents and third-party documents (i.e., appraisal, title, flood, fraud) to determine a credit decision on Non-QM Programs.
- Reviews Borrowers’ conditions and third-party documents for loan programs that have an automated underwriting decision. Â
- Reviews DU verification messages/approval conditions. Verifying the accuracy and integrity of all loan data entered into the system.
- Calculates income, reviews assets and liabilities.
- Documents all loan exceptions and compensating factors.
- Maintains knowledge of all policies and modifications to the guidelines and standards of the Company, federal housing programs, investors, and private mortgage insurers.
- Updates loan application information within loan origination software and other applications.
- Analyzes documentation collected to ensure it meets guidelines or if other documentation is needed; ensures loan application follows underwriting, investor, RESPA, and HMDA guidelines.
- Identifies Changes in Loan to ensure appropriate disclosures are provided to the Borrower in a timely manner.
- Completes HMDA Data and Denial Letters for ineligible loans.
- Documents and effectively communicates reasons for approval/rejection of loans.
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Minimum Qualifications (Skills, Knowledge & Abilities): - Skilled in effective written and verbal communication.
- Advanced working knowledge of Microsoft Office products and automated underwriting systems.
- Knowledge of lenders’ policies and procedures.
- Proficient knowledge in Encompass.
- High mathematical aptitude.
- Ability to analyze and interpret data sufficient to render a sound business decision.
- Ability to gather and monitor information, track and record changes in accordance with regulations.Â
- Ability to analyze large volumes of documents while maintaining attention to detail to ensure all risk factors are identified and conditioned.Â
- Ability to work in a fast paced, agile environment; meet tight deadlines; and plan for and anticipate eleventh-hour changes; highly organized and able to prioritize.
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Experience and Education: |
- 5+ years’ experience as a Certified Underwriter (required)
- 5+ years’ experience mortgage loan processing proficiency (required)
- 2+ years’ experience in Non-QM Underwriting (required)
- Bachelor’s Degree in business, banking, finance or a related field
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Physical Demands: |
The physical demands are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee is occasionally required to stand; walk; sit; use hands to finger, handle, or feel objects, tools or controls; reach with hands and arms; climb stairs; balance; stoop, kneel, crouch or crawl; talk or hear; taste or smell. The employee must occasionally lift and/or move up to 25 pounds. Specific vision abilities required by the job include close vision, distance vision, color vision, peripheral vision, depth perception, and the ability to adjust focus. |
Work Environment: |
Job Classification: |
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