El Monte, CA 91731
Essential Duties and Responsibilities;
1. Input and/or update mortgage information in the loan origination system to ensure data integrity.
2. Under the supervision of the senior underwriter, underwrite mortgage loans in compliance with bank/investor guidelines and applicable regulations.
3. Review and verify all income and asset documentation in accordance with internal policies and procedures along with insuring Ability to Repay standards are met.
4. Perform analysis of credit history and complex tax returns, inclusive of individual and self-employed borrowers.
5. Review and analyze collateral documents such as title reports, appraisals, escrow instructions and purchase contracts to ensure the accuracy of loan approvals.
6. Run and review Freddie Mac automated underwriting results.
7. Perform loan Quality Assurance checks and fraud reviews on all files.
8. Prepare initial and final loan decisions and signs off on loan conditions within designated timeframes.
• Two to four years' experience in recent and direct underwriting experience with the following emphasis:
• Hands-on and progressive experience in underwriting mortgages through Automatic Underwriting System (AUS) and manual underwriting of portfolio conventional loans;
• Proficiency in Freddie Mac Loan Prospector (LP) lending guidelines and experience in LP findings/rebuttals;
• Knowledge and familiarity with current mortgage and compliance laws and regulations specifically including QM and ATR requirements;
• Knowledgeable in mortgage cash flow income and expenses analysis, including personal/partnership/LLC/corporation business tax returns and other types of earnings; Ability and experience in independent credit risk identification and credit conclusions;
• Complete and thorough analysis of entire loan package to determine compliance with Bank and Agency guidelines;
Ideal Candidate will have...
• BA/BS degree is a Plus
• 2-4 years experience in underwriting
• Experience with Encompass is a MUST
• Experience with Word and Excel
• Effective written and verbal communication
• US Citizen or Green Card holder
Salary: $78, 000 - $90, 000 / anual + Bonus paid out annually. This position is a full-time, fully benefited work opportunity!