The Senior Non QM Wholesale Underwriter will underwrite loans in accordance with Company and Investor guidelines following company’s policies and procedures under general supervision. Makes sound underwriting decisions and ensures that all decisions meet legal and policy requirements. Perform all duties in accordance with the company’s policies and procedures, all US state and federal laws and regulations, wherein the company operates.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
- Performs a thorough analysis to ensure the quality of each loan and to determine compliance with Company and Investor guidelines.
- Performs a thorough analysis of collateral to ensure property meets investor guidelines and the appraisal quality and completeness is acceptable.
- Applies and interprets company underwriting guidelines and makes sound credit decision.
- Completes credit, analysis of income, analysis of property, ensures proper audits are completed and verifies consistency of loan file information.
- Identifies risk factors within each loan and utilizes resources, tools and documentation to detect red flags and clear inconsistencies.
- Reviews and evaluates credit information on mortgage loan documents to determine acceptability for specific loan programs.
- Determines any conditions, stipulations or pre-funding requirements.
- Reviews and clears underwriting conditions, stipulations or pre-funding requirements received.
- Communicates with clients, sales teams and operations teams to resolve outstanding issues as they arise.
- Assists departmental support staff when necessary.
- Resolves and responds to post closing credit exceptions received from investors and auditors when required on loans underwritten.
- Maintains ongoing knowledge of investor guidelines, updates and trends as applicable to underwriting position.
- Completes second signature underwriting review on loan files underwritten by junior underwriters and within designated authority as needed.
- Performs other duties as assigned.