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Underwriter III

ROARK

Underwriter III

Redlands, CA
Full Time
Paid
  • Responsibilities

    ROARK has partnered with a Real Estate Mortgage Lender in the I.E. and is looking for an Underwriter III.

    The Underwriter III is responsible for the prudent underwriting of loans in accordance with company and investor guidelines. They evaluate and verify applications, determining whether or not the borrower will be able to repay the loan.

    Essential Duties and Responsibilities: 

    • Review and evaluate information on mortgage loan documentation to determine borrower and property meets loan standards.
    • Complete a thorough risk analysis of loan files to determine compliance with company, investor and FNMA/FHLMC guidelines and standards.
    • Evaluate the entire credit package and collateral for residential mortgage loans and ultimately ensure an “investment” quality loan product.
    • Check accuracy of all calculations.
    • Recommend the loan disposition, for loan amounts in excess of authority limitation, to underwriting manager.
    • Rejects loans by identifying and documenting deficiencies.
    • Communicate decision on loans to appropriate parties both verbally and in writing.
    • Be available to processors and loan officers for general guideline interpretations and questions on specific loan files.
    • Possess sound knowledge of automated underwriting and guidelines.
    • Perform related duties as directed by underwriting manager.
    • Provide corrective action and held accountable for underwriting deficiencies.

    Qualifications:

    The requirements listed below are representative of the knowledge, skill, and/or ability required for this position:

    • Read and interpret documents such as policy and procedure manuals.
    • Ability to speak effectively to costumers and/or employees of the organization.
    • Calculate figures and amounts such as discount points, interest calculations, and percentages.
    • Ability to apply concepts of basic algebra.
    • Have knowledge of Database software systems; Internet software and word processing software.
    • Experience with DU and LP Automated Underwriting systems.
    • Underwrite a minimum of 4 loans per day.
    • Ability to work effectively under specific time constraints.
    • Able to define problems, collect data, establish facts, do independent research and draw valid conclusions.

    Signing Authority:

    Loan amounts up to $750,000 +

    Education/Experience:

    • High School Diploma
    • Minimum of 7 years residential mortgage underwriting experience.
    • Sound working knowledge of FNMA/FHMLC, VA, USDA and FHA underwriting guidelines, as well as familiarity with private investor and private mortgage insurance guidelines.

    Computer Skills:

    To perform this job successfully, an individual should have knowledge of:

    • Microsoft Office
    • Database software (DataTrac and Calyx Point,ConformX)
    • Internet software