• Perform mortgage credit analysis, with or without the assistance of an automated underwriting system to determine Borrower’s willingness and ability to repay the mortgage debt.
• Knowledge of FNMA and FMLMC documentation and general guidelines/standards. Experience with FHA, VA, and USDA is preferred, but not required.
• Validate loan application and supporting documentation and verify that the system of record reflects correct information. Update system of record when required.
• Review and validate: income, asset, credit, title, value, and fraud reports.
• Ensure all required property information is in system.
• Look over all loans to substantiate that they meet underwriting guidelines.
• Pull credit report as required.
• Confirm government required documents are complete and accurate.
• Review title information and purchase contract, if applicable.
• Run and review quality control tools –i.e. FraudGuard and Early Check.
• Run, review, and interpret DU/LP/GUS/TotalScoreCard, when applicable.
• Document system with all dates and information.
• Certify system data integrity.
• May underwrite one or all of the following loan types: Conventional, Jumbo, FHA FHA, 2013k, VA, and USDA based on lending authority levels (underwritten loans must meet all quality standards established, Fannie Mae, Freddie Mac, FHA, VA, and USDA).
• Maintain production standard goals as established by management.
• Ability to act as FHA, DE, and/or VA Automatic and SAR Underwriter, if not, should be pursuing these designations (based on lending authority level).
• Order and review MI based on loan program. Ensure that system of record matches MI certificate.
• Approve/deny loans and update the system accordingly with P.A.C.E comments.
• Re-underwrite loans when additional information has been received.
• May be asked to second sign loan decisions for lower level authority underwriters.
