Job Description
JOB DESCRIPTION:
LoanStream Wholesale is the "One Lender" for wholesale market. We span both Prime and Non-Prime lending effortlessly and make it easy for our broker partners to get their loans funded for their clients and real estate partners. Our leadership team has decades of experience, from top-tier lenders, dedicated to growing the careers of our associates, and growing our company.
Our teams thrive on a positive attitude, a constructive working environment, and a culture of getting the loan done, the right way – the first time. From our Sales teams to our operations teams, our associates are trained to succeed at their roles and support our broker partners every step of the way.
THE SCOPE:
The primary role of the DE/SAR Underwriter is to review wholesale and retail loan submissions to determine credit risk. To ensure that loan applications submitted to OCMBC meet all FHA, VA, FNMA, FHLMC and Investor underwriting guidelines. The DE/SAR Underwriter is expected to hold or will attempt to receive an FHA Direct Endorsement Certification and VA Automatic Underwriter Designation (if applicable).
KEY RESPONSIBILITIES:
- Review credit documents in accordance to LoanStream, FHA, VA, and USDA/RD guidelines. Review borrower’s income and assets in accordance to LoanStream, FHA, VA, and USDA/RD guidelines.
- Review subject property title and appraisal in accordance to LoanStream, FHA, VA, and USDA/RD guidelines.
- Must be able to make loan decisions independently (Approve or Decline).
- Sign off on conditions.
- Verify the consistency of information throughout the file
- Ensure that safe and sound underwriting guidelines are maintained.
- Must be able to analyze personal and corporate tax returns, self-employment income to include but not be limited to profit and loss statements and balance sheets
- Utilize third party vendors to support underwriting decisions (Fraud Guard, Interthinx, Early Check, CAIVRS, LDP/GSA, etc.)
- Responsible for the Final AUS, 1008, LT and/or 1003.
- Sufficient working knowledge of debt ratios and loan-to-values
- Responsible for the review and approval of submitted loan conditions.
- Provide income worksheet and adherence to company guidelines and overlays.
- Review and approve all legal documentation (purchase contract if applicable), Title reports and Escrow Instructions.
- Other duties as assigned.
- Based on business needs overtime may be required.
PROFESSIONAL EXPERIENCE, EDUCATION, AND QUALIFICATIONS:
- Minimum 2 or more years of recent experience as a DE and SAR Underwriter.
- Minimum 2 or more years of recent experience in FHA and VA.
- Comprehensive understanding and knowledge of current FHA, and VA
- Basic knowledge of federal and state laws pertaining to the mortgage‐banking industry (i.e. TRID, ECOA, Fair Lending etc.)
- DU/LP/TOTAL Scorecard knowledge required.
- Strong communication skills and ability to effectively interact with brokers.
- 6 months or more experience with USDA/RD is preferred, but not required.
PERKS:
- Flexible benefits package including 401K,
- Impressive compensation packet.
- Remote positions with full support staff
- Covered parking
- Café
- Beautiful grounds with games and close to coffee shop, airport, and restaurants.
WORK LOCATION:
COMPANY'S WEBSITE:
- www.Loanstreamwholesale.com
JOB TYPE: FULL-TIME
COVID-19 CONSIDERATIONS:
To keep our employee's safe as possible, we have hand sanitizer through-out the building, provided masks, gloves and have the building sanitized twice a month.
Company Description
Our team thrives on the positive work environment we foster. Our mission of getting the loan done the right way, the first time, resonates with every employee within the organization. We continue to enhance the loan process by integrating the most advanced technology, attracting the best talent in the industry and trusting our staff to always “do the right thing.”