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12 Feb 2023
Full-Time ABL Underwriter – Yavatmal
Mortgage Underwriters make loan choices and adhere to lending policies and procedures. Mortgage Underwriter I, which entails mastering underwriting conventional loans according to agency requirements and portfolio loans according to Bank guidelines, is the first step in this role’s development. To fulfil the functions of this position, all Mortgage Underwriters are multi-functional, customer-oriented persons who rely on instructions and pre-determined procedures. The Mortgage Support Manager oversees their work.
Job Title : ABL Underwriter
Location : Yavatmal, Maharashtra, India
Salary : $ 28.34 per hour.
Company : Ellington Management Group
Job Type : Full-Time
- Demonstrate the ability to make solid judgements based on existing underwriting rules, Bank policies, processes, expertise, and experience when it comes to the credit worthiness of applicants.
- Determine the overall risk of the loan application and effectively underwrite the loan utilizing lending rules and processes.
- Maintain a thorough understanding of loan product requirements and industry rules, which includes aiding with the prevention, discovery, and settlement of mortgage fraud.
- Examines and analyses information on mortgage loan papers to determine whether the buyer, property, and loan conditions comply with Credit Union and government criteria.
- Responsible for staying up to date on all state, local, and federal standards, such as the Ability to Repay (ATR), Qualified Mortgage (QM), Real Estate Settlement Procedures Act (RESPA), Truth in Lending (TILA), and any other related mortgage lending rules.
- Responsible for staying up to date on all secondary market requirements, with a special focus on the credit union’s established investors, such as FNMA, FHLMC, and FHLB. Changes to these guidelines must be communicated correctly and promptly.
- Assess individual risk by analyzing credit, income, and assets on a loan-by-loan basis and sending underwriting recommendations to Mortgage Originators as promptly as feasible.
- Provide great internal and external customer service that meets each client’s unique demands and encourages bank loyalty.
- Communicate with appraisers about problems, changes, and other information while operating and maintaining the Bank’s appraisal portal
- Manages the application process for mortgage loans. Completes a full risk analysis of mortgage loan applications, including legal document evaluation, income analysis (including self-employment and tax return analysis), and asset analysis, among other things. Determine if the application complies with the credit union portfolio or secondary market criteria, and then approve or deny the application depending on the results. Alternative approval criteria are suggested if relevant.
- Communication, analytical, auditing, research, and decision-making skills are all important. Excellent communication and problem-solving abilities, both verbally and in writing.
- Conventional, FHA, VA, USDA, VHDA, and NC underwriting guidelines are well-known.
- Excellent interpersonal, organizational, and communication skills are essential.
- The software CUDL 360, Symitar, Microsoft Excel, and Microsoft Word Processing are all required.
- Mortgage underwriting expertise, or a combination of education and experience that is equivalent, is preferred.