Job Description

"INDECOMM IS AN EQUAL EMPLOYMENT OPPORTUNITY EMPLOYER"

POSITION TITLE:

Remote Underwriter- Joining Bonus of 10k

CLASSIFICATION Non-Exempt /Full-Time

LOCATION: OFFICE Remote

JOB DESCRIPTION:

The underwriter will review regulatory compliance with disclosures, validate data used by an automated underwriting system to decision loans, and perform a comprehensive review of the appraisal report. The underwriter will determine if the loan meets underwriting guidelines, product guidelines, investor requirements and eligibility requirements. The underwriter will update information regarding the loan transaction in the loan origination system with the appropriate status and loan conditions. In addition, the underwriter will review and clear conditions prior to closing. MUST HAVE 3 YEARS OF RECENT FRONTLINE UNDERWRITING EXPERIENCE. CONVENTIONAL UNDERWRITING, HEAVY TITLE REVIEW EXPERIENCE A PLUS. MUST HAVE EXCELLENT CUSTOMER SERVICE SKILLS.

JOB DUTIES/RESPONSIBILITIES:

1. Perform a cursory review of the loan file for compliance with Federal disclosure requirements to include the Net Tangible Benefits worksheet.

• Validate the data used by the AUS to make a credit decision. This includes but is not limited to:

• Verify all loan term obligations were considered to qualify

• Determine income used to qualify the loan was calculated correctly

• Ensure assets used for the source of funds to close and for reserves are acceptable and accurate

• Establish that documentation required by the AUS is in the file or becomes a condition of the loan approval

1. Perform a comprehensive review of the appraisal report and all supporting documentation. This includes but is not limited to:

• Verify the report was performed by a licensed/certified appraiser and meets client’s and investor/agency requirements.

• Determine that the property meets investor guidelines.

• Ascertain that the appraiser has supported his/her opinion of market value.

• Establish that the appraisal report is complete and free of any inconsistencies and that the property is sufficient.

1. Evaluate the application, supporting credit, income and asset documentation, the appraisal report and the contract of sale of sale to uncover inconsistencies and potential misrepresentation in the loan file.
2. Determine if the loan was submitted to underwriting in accordance with the program and terms registered or locked with Client’s secondary marketing department. Resubmit the loan to Client’s AUS, when validated data falls outside of AUS tolerance levels.
3. Resubmit the loan to client’s AUS, when validated data falls outside of AUS tolerance levels.
4. Identify loan conditions that must be cleared prior to closing and/or at closing.
5. Enter/correct data in LOS. Data includes the status and recommended conditions for the approval.
6. Review and clear “prior to closing” conditions that have been identified as the underwriter’s responsibility.
7. Communicate as needed with Client’s staff and customers.

SERVICE LEVEL REQUIREMENTS:

ONE BUSINESS DAY (24 HOURS)

• Perform initial review of loan

• Upon receipt of assigned loan

• Subsequent loan review

• Loan pended for additional information – upon receipt of all the required documentation necessary to make a decision

  ONE BUSINESS DAY (24 HOURS)

• Review and clear prior-to-closing conditions

• Upon receipt of the conditions

• Rush requests will be prioritized for review same day

• Upon receipt of the rush request

  TWO (2) BUSINESS HOURS

• Return email inquiries and phone calls; pre-funding condition review/accuracy review

• Upon receipt of an email

OTHER REQUIREMENTS

• Quality control will be maintained at 95% or better.

• Be able to trouble shoot basic technology issues.

• Accessible from 8:00 a.m. to 5:00 PM. Local time Monday - Friday

• Underwriters to update internal systems simultaneously with client systems to provide underwriting completion dates.

• Complete time and attendance and code properly daily.

• A minimum of 3 loans per day must be underwritten plus 6- 12 conditions to keep conditions within SLA

• All work in your queue must be cleared daily.

• High speed internet access ( this is not paid by the company)

• Dual monitors.

• Anti-virus software on system.

REQUIRED EDUCATION AND EXPERIENCE

• High School diploma; college degree preferred

• 3 years of recent Underwriting experience required.

Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities and activities may change at any time with or without notice.

Indecomm is an Equal Employment Opportunity Employer

Company Description

Founded more than 25 years ago, Indecomm Mortgage Services is a leading provider of business services and technology for the US mortgage industry. The company is headquartered in New Jersey with over 1,200 employees worldwide. Indecomm services and solutions support every stage of the mortgage lifecycle with automation and software, outsourcing and project management, and compliance and education. With a focus on technology solutions first, we partner with large and mid-sized lenders, services, mortgage insurers, and title companies to achieve one specific goal-to help them grow. Our longevity in the ever-changing mortgage industry is our strength. We have worked diligently in the outsourcing and consulting spaces to develop tools and resources using extensive feedback from both clients and internal associates. See how we stand out in the crowded mortgage solutions provider space: 1,200 employees across the globe with mortgage industry expertise who develop and support sophisticated solutions and innovative technology Technology firm with mortgage banking expertise that provides robust automation solutions and outsourcing services that support the loan life cycle Leveraging the latest technology allows automation of mortgage processes that were previously done only on a manual basis All engagements can be customer monitored to observe work in real time using the latest in cutting-edge technology Automation and software technology can also be licensed without the outsourcing component providing customers the same real-time reporting and visibility into their employee’s work Compliance and education programs and resources give clients access to our mortgage industry experience Indecomm is an Equal Employment Opportunity Employer