Residential Underwriter Iii Jobs

Description:

Job Summary

The Residential Underwriter III role is accountable for reviewing residential mortgage loans in accordance with established guidelines, policies and procedures of Cogent, government agencies, GSEs, investors, and mortgage insurers. The review is expected to be completed within established Service Level Agreements (SLAs). The Residential Underwriter III reports directly to the VP, Underwriting Manager of Residential Lending Operations.

Requirements:

Responsibilities and Duties

• Remain approachable for Loan Processors, Closers and Mortgage Loan Originators to come with questions on loan files, interpretation of policy and advice on unique underwriting scenarios as they may arise.
• Issue clear and concise loan decisions to help reduce questions and meet closing deadlines.
• Timely address any deficiencies noted from QC and Investor Suspense conditions.
• All other tasks, responsibilities, or duties, as directed by management.
• Assist management team with the development, design, and implementation of Residential Lending procedures, job aids, documentation review and condition collection.
• Ensures BSA compliance by reading and being familiar with the BSA/AML program/policy; following all BSA/AML/OFAC policies and procedures; and completing all BSA/AML/OFAC related online courses.
• Utilize available technology and automated underwriting systems to increase efficiency, reduce error rates and improve loan quality.
• Proactive management of Underwriting pipelines to ensure compliance with established SLAs including initial loan review, resubmission of conditions received, etc.
• Collaborate with other departments including Processing, Closing, Post-Closing, Credit Risk and Compliance as needed to ensure proper underwriting standards are met to safeguard company assets and ensure conformity with investor standards.
• Review loan application and supporting documentation to confirm the applicant’s credit profile, income/employment history, assets and collateral will be an acceptable level of risk and will be saleable on the secondary market.
• Assist management team with the development, design, and implementation of Residential Lending Quality Control/Assurance procedures, job aids, documentation review and reporting of deficiencies.

Qualifications and Skills

Required:

• Bachelor’s degree in business, management or other appropriate field or comparable experience.
• Experience underwriting an average of 2 or more loans per day in addition to issuing CTC
• Excellent organizational, oral and written communication skills
• 10+ years mortgage underwriting experience.
• Expert level knowledge of underwriting guidelines for Fannie Mae, Freddie Mac, FHA, VA & USDA.

Preferred:

• Strong knowledge of Mortgage Loan Processing and Quality Control/Assurance
• Conventional Underwriting
• FHA DE designation
• Proficiency with Encompass LOS
• VA SAR/LAPP designation