Underwriter

The Underwriter is responsible for performing a manual review of a complete assumption package, inclusive of all supporting documentation. The Underwriter will determine if the applicant qualifies to assume liability of the loan based on a credit review. This position will also be responsible for direct oversight of the Processors in the handling of the assumption file, escalating any concerns to management.

Responsibilities

• Provides oversight and acts as support to Processor in handling of file review and escalations through training and detailed advisement
• Manually underwrites all loan types in accordance with investor guidelines
• Ensures all origination guidelines, for federal / state regulations and investor requirements, are adhered to for underwriting review and decision
• Contacts business partners, third party vendors and investors with underwriting inquiries, as needed, to complete assumption process
• Files submission to investor for approval, if applicable
• Guides processors and provides reasonable and concise analysis and justification for conditions
• Manually reviews of the assumption file; inclusive of bank statements, W2 and other required documentation to complete determination
• Escalates any concerns identified in processing to Management
• Ensures compliance with timing of underwriting decisions, to be completed within 30 days of receipt of complete application
• Monitors investor guideline changes and leads the Processors through implementation while keeping management apprised of changes
• Responsible for the completion of OFAC checks on all approved files to ensure BSA compliance
• Completes system updates on FHA Connection post-closing
• Handles audit inquiries, as needed
• Communicates effectively with clients, vendors, and internal departments by phone and correspondence
• Assists in other areas and with the performance of other functions of the department
• Other duties as assigned
• Appropriately assess risk when business decisions are made, include but not limited to compliance and operational risk. Demonstrate consideration for the Company's reputation as well as our clients, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues, as well as effectively supervise the activity of others and create accountability with those who fail to maintain these standards.

Partial Release Responsibilities