Underwriter

With a company culture rooted in collaboration, expertise and innovation, we aim to promote progress and inspire our clients, employees, investors and communities to achieve their greatest potential. Our work is the catalyst that helps others achieve their goals. In short, We Enable Possibility℠.

JOB SUMMARY

The Underwriter approves or denies mortgage insurance coverage on standard loans based on a comprehensive evaluation of risk factors associated with loan, borrower, and property eligibility. He/She maintains compliance with applicable policies and guidelines to ensure the overall quality of the loan, while providing exceptional customer service to clients.

1. Underwrites standard loan submissions and ensures eligibility, accuracy, completeness, and compliance with company, GSE, and regulatory policies/guidelines and procedures to minimize risk factors.
2. Evaluates creditworthiness and financial strength of the borrower to determine degree of credit risk and assesses loan level eligibility. Reviews and analyzes loan application, credit report, liabilities, assets, and income. Identifies and acts to resolve red flags and inconsistencies.
3. Assesses property data to ensure the collateral is acceptable to company and GSE guidelines. Reviews property appraisal for accuracy and consistency to ensure it provides a reasonable determination of property value. Identifies inconsistencies within the appraisal report.
4. Determines whether to approve or deny insurance coverage based on the evaluation of key risk factors and interpretation of applicable guidelines. Makes and effectively communicates loan decisions in accordance with guidelines and procedures, within authority limits. Advises customers and Sales staff of underwriting decisions. Explains rates, terms of coverage, and applicable policies/guidelines, and issues certificates of insurance.
5. Establishes and maintains exceptional level of customer service through regular communication and status updates. Answers questions from internal and external customers; negotiates and resolves customer conflicts. May be assigned as a lead on designated underwriting teams.
6. Monitors the Arch MI Answer Center and responds to all underwriting related inquiries in a timely manner, conducting research if necessary and providing accurate information.
7. Obtains all required documentation and completes loan information data entry within the system. Reviews and signs off on loan file conditions within authority level and conducts additional research and analysis if necessary.
8. Maintains current knowledge of, and accurately applies GSE and Arch MI guidelines in the analysis of submitted loan files.

Knowledge & Skills:

1. Broad knowledge of mortgage industry and solid understanding of core underwriting principles, concepts, practices, and techniques.

2. Strong working knowledge of FNMA and FHLMC underwriting guidelines. Strong analytical, problem solving, and decision-making skills to assess degree of risk and make independent judgments on standard loans.

3. Ability to perform standard underwriting calculations.

Education & Experience:

Required knowledge and skills would typically be acquired through high school diploma/GED plus some college business courses with 4-6 years related experience in the mortgage lending industry.  Bachelors or Associates degree highly preferred.

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