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Conventional Underwriter wholesale Non QM

Company: Jobot
Location: Lake Forest
Posted on: January 8, 2022

Job Description:


This Jobot Job is hosted by Sara Bezjian

Are you a fit? Easy Apply now by clicking the "Apply" button and sending us your resume.

Salary $75,000 - $85,000 per year

A Bit About Us

Our client is a very well-established and constantly growing wholesale and retail lender with a big name and tremendous reputation in the industry! This incredibly successful team is lead by seven very experienced Executives that made it through the good times and the bad.

They have a diversified portfolio of products including Conventional, FHA, VA and NONI however 65% of their business today consists of Non-QM loans. With a stellar support staff of in-house operations including their Underwriters, they maintain a very high level of file integrity and their funding ration is well above average.

Why join us?

Bonus Structure is as stated

CONV Files

Decisioned Files Bonus

1 thru 20 $0

21 thru 30 $5

31 thru 40 $10

41 thru 50 $15

51 + $50

  • Above is retroactive to the first loan once you hit the higher tier

    40 decisioned loan files Agency = $400 monthly bonus

    55 decisioned loan files Agency = $2,750 monthly bonus

    Job Details
    • Minimum 4+ years current Mortgage loan underwriting experience with FNMA, FHLMC, FHA & VA
      Strong knowledge base with Non QM loans

      Ability to calculate ALL sources of income including hourly, base and variable, ability to analyze income trends, review and analyze personal and business tax returns as well as profit and loss statements

      Review and analyze credit reports, identifying red flags

      Strong knowledge in appraisal review, income properties and ability to determine ineligible properties, must be able to read FNMA CU reports

      Thorough working knowledge of Agency underwriting guidelines, manual and automated underwriting engines (DU/LP)

      Strong analytic, interpersonal, and verbal and written communication skills

      Detail-oriented with strong ability to manage time

      Ability to work in a flexible and production-oriented environment

      Must be willing and able to work as part of a team

      Strong capability to work in Encompass - paperless environment

      Essential Functions

      Reviews mortgage loan documentation to insure compliance with disclosure requirements.

      Reviews all cancelled/denied/withdrawn loans to insure consistent application of regulations and prepares the final Notice of Denial letters and HMDA action reason.

      Assists the Mortgage Department Manager in the annual review of underwriting guidelines. Recommends changes to procedures or policy as necessary to insure sound underwriting decisions.

      Performs quality control review of residential appraisals submitted.

      Responds to underwriting queries from auditor(s) or examiner(s).

      Assists in training personnel regarding Bank underwriting procedures and guidelines.

      Mentors, trains, and develops assigned staff in residential mortgage underwriting and appraisal review.

      Performs Additional Duties As Assigned

      Adhere to general work requirements

      Review moderately complex applications for completeness and update data in LOS to ensure data integrity

      Work with internal and external partners to clear conditions in a timely manner

      Analyze and review documentation in file to verify accuracy of application and support underwriting decision

      Calculate income based on tax returns and/or other income documents in file

      Review and confirm assets in file

      Review and analyze appraisals, preliminary title work and purchase contracts

      Make moderately complex loan decisions based on the overall worthiness of the borrower, layering of risk and all program requirements and issue loan approvals, suspensions, counter offers or denials

      Identify quality concerns and red flags and validate accuracy of associated risk to the borrower or property/collateral profile

      Communicate decisions (written and verbal) to all parties (specifically brokers and sales partners as appropriate) and build relationships with both internal and external partners

      Perform other duties as assigned

      General Skill

      Strong analytical skills

      Good verbal and written communication skills

      Ability to provide outstanding customer service in fast-paced environment

      Proficient working knowledge of computerized applications such as word processing, spreadsheet, database, presentation software, email and specialized business applications software

      Presentation skills necessary to effectively communicate, update, persuade and/or facilitate discussions with all levels of management

      Interpersonal skills necessary to establish and maintain effective working relationships with coworkers, other business areas and government agencies as required

      Planning and organizational skills necessary to coordinate workload around multiple assignments

      Productivity Expectations 2 new approvals and 4 resubmissions each day = 8 hours/day

      Knowledge Conventional and FHA experience. Ability to complete second level reviews

      Certifications/Licenses FHA DE for a minimum of 12 months

      Interested in hearing more? Easy Apply now by clicking the "Apply" button.

Keywords: Jobot, Lake Forest , Conventional Underwriter wholesale Non QM, Other , Lake Forest, California

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