26 May
2023
Full-Time Underwriter – Sumisip
Job Description
Mortgage Underwriters make lending choices and adhere to approved lending regulations and processes. Mortgage Underwriter I, which entails mastering underwriting conventional loans to agency requirements and portfolio loans to Bank guidelines, is the first step in this role’s development. To perform the functions of this position, all Mortgage Underwriters are multi-functional, customer-oriented persons who rely on instructions and pre-established procedures. They work directly under the Mortgage Support Manager’s supervision.
Job Title : Underwriter
Location : Sumisip, Basilan Province, Philippines
Salary : $ 28.85 per hour.
Company : Swiss Re
Job Type : Full-Time
Qualifications:
- Informed Mortgage Originators of underwriting decisions as quickly as feasible.
- Examines facts on mortgage loan documentation to see whether the buyer, property, and loan conditions are in accordance with Credit Union and government rules.
- Responsible for staying up to date on all state, local, and federal regulations, as well as ensuring that all guidelines are followed, including but not limited to the Ability to Repay (ATR), Qualified Mortgage (QM), Real Estate Settlement Procedures Act (RESPA), Truth in Lending (TILA), and all other applicable mortgage lending rules.
- While administering and maintaining the Bank’s appraisal portal, communicate with appraisers on errors, updates, and extra information.
- Responsible for remaining current on all secondary market requirements, with a specific focus on the credit union’s investors, such as FNMA, FHLMC, and FHLB. Changes to these principles must be communicated properly and promptly.
- Based on established underwriting criteria, Bank policies, methods, skills, and experience, demonstrate the capacity to draw judgments about applicants’ creditworthiness.
- Organizes the mortgage loan application procedure. Examines legal papers, analyses income (including self-employment and tax returns), and examines assets, among other things, to perform a comprehensive risk analysis of mortgage loan applications. Determine if the application fits the credit union’s or secondary market’s standards using this analysis, and then accept or deny the application depending on the findings. Alternative approval criteria are offered if they’re applicable.
- Determine the risk rating of the whole loan application and effectively underwrite the loan utilizing lending rules and processes.
- Maintain a thorough understanding of loan product specifications and industry regulations, as well as aiding in the prevention, discovery, and resolution of mortgage fraud.
- Provide excellent customer service (both internally and externally) that is tailored to each client’s specific needs and encourages client loyalty to the bank.
Skills:
- Has a thorough grasp of the underwriting requirements for conventional, FHA, VA, USDA, VHDA, and NC loans.
- -3 years of mortgage underwriting experience desirable, or a combination of education and experience that is similar.
- The ability to effectively communicate, analyze, audit, research, and make decisions are all critical abilities to develop. Communication and problem-solving talents are excellent, both orally and written.
- The programs CUDL 360, Symitar, Microsoft Excel, and Microsoft Word Processing are all required.
- Outstanding interpersonal, organizational, and communication abilities are required.