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Mortgage Underwriter

Cherry Hill, NJ

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Description

ESSENTIAL DUTIES AND RESPONSIBILITIES:

• Underwrites residential first mortgage loans, including FHA, VA, USDA, state bond programs and conventional loans to ensure compliance with investor’s requirements, FNMA, FHLMC, FHA, VA, USDA and state bond guidelines, along with Federal and State regulations and Bank policies.

• Performs credit/appraisal analysis and approves/declines loan applications for all residential loan originations, ensuring compliance with investor’s requirements, FNMA, FHLMC, FHA, VA, USDA and state bond guidelines, along with Federal and State regulations and Bank policies.

• Demonstrates proficiency in reviewing and interpreting appraisal reports in accordance with state/federal regulations, FHA, VA, USDA, state bond programs and secondary market guidelines.

• Verifies and analyzes financial information to determine applicant qualifications with respect to Bank’s risks, policies and salability to secondary market.

• Review and evaluate borrower profile including all income documentation, tax returns, credit reports, preliminary title report, judgments, Bankruptcy documents.

• Underwrites and renders decisions on first mortgage loans in which the borrower is self-employed and requires experience analyzing complex income tax returns and documents including but not limited to IRS Forms 1040, 1120, 1120s, and 1065; and Profit and Loss statements.

• Ensures integrity of loan data entered into the Loan Origination System.

• Keeps abreast of changes in policies, procedures, and regulations applicable to the Bank and mortgage industry.

Job Requirements

EXCELLENT BENEFITS, TEAM ENVIRONMENT

JOB SPECIFICATIONS:

Knowledge, Skills and Abilities

  • Experience with underwriting residential mortgage loans
  • Thorough knowledge of changes in policies, procedures, and regulations applicable to the Bank and mortgage industry
  • Understanding of Federal and State regulations and investor’s 
  • Ability to handle sensitive and confidential information in a professional and discrete manner
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