What are the responsibilities and job description for the Underwriter - Wholesale Division position at Dominion Financial?
Job Description:
Dominion Financial Wholesale is a business-to-business provider of residential mortgage loan products and services that serve the mortgage broker community. We specialize in delivering competitive mortgage solutions while maintaining a commitment to responsible lending practices.
We are seeking a Mortgage Underwriter to join our dynamic team. In this critical role, you will be responsible for evaluating mortgage loan applications, assessing risk, and ensuring compliance with underwriting guidelines and regulatory standards. You will work closely with loan officers, processors, and other key stakeholders to provide accurate and timely decisions while staying informed on industry trends and changes. As part of our team, you will have the opportunity to make a significant impact by driving efficiency, supporting continuous improvement, and fostering a collaborative environment.
Our Company’s Core Values:
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Dominion Financial Wholesale is a business-to-business provider of residential mortgage loan products and services that serve the mortgage broker community. We specialize in delivering competitive mortgage solutions while maintaining a commitment to responsible lending practices.
We are seeking a Mortgage Underwriter to join our dynamic team. In this critical role, you will be responsible for evaluating mortgage loan applications, assessing risk, and ensuring compliance with underwriting guidelines and regulatory standards. You will work closely with loan officers, processors, and other key stakeholders to provide accurate and timely decisions while staying informed on industry trends and changes. As part of our team, you will have the opportunity to make a significant impact by driving efficiency, supporting continuous improvement, and fostering a collaborative environment.
Our Company’s Core Values:
- Integrity
- Accountable & Dependable
- Team Centric
- System & Process Oriented
- Service Ethic
- Organized Efficiency - Risk Management & Compliance
- Assess mortgage loan applications to determine eligibility and risk, considering factors such as creditworthiness, income stability, and property valuation
- Conduct thorough analysis of financial documents, including tax returns, bank statements, property appraisal reports, and credit reports, ensuring accuracy and adherence to underwriting guidelines
- Utilize underwriting guidelines, loan programs, and regulatory requirements to make informed and timely decisions
- Collaborate with loan officers, processors, and other stakeholders to gather necessary information and clarify underwriting requirements
- Stay updated on industry trends, market conditions, and regulatory changes affecting mortgage underwriting practices
- Foster a collaborative and supportive team environment
- Maintain detailed records and documentation of underwriting decisions and loan conditions
- Additional tasks associated with Underwriting may be assigned by management
- Bachelor’s degree or 5 years in mortgage underwriting
- Minimum of 5 years of experience as a Mortgage Underwriter, demonstrating proficiency in making complex underwriting decisions
- In-depth knowledge of mortgage lending regulations, guidelines, and best practices for Agency and Non-QM loans
- Underwriting experience within the past 6 months with a strong focus on Non-QM products, including bank statements, asset utilization, DSCR, 1099, and profit and loss
- Experience in manually underwriting loans
- Strong analytical skills with the ability to evaluate financial information accurately and efficiently
- Excellent communication skills, both verbal and written, with the ability to interact effectively with clients and internal teams
- Detail-oriented with a high level of accuracy in work output
- Proficiency in using mortgage software system including Encompass and Mavent and other relevant tools
- Company outings & social events
- Virtual events
- Companywide competitions and raffles
- Personal financial workshops
- Orioles season tickets
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