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Conventional Underwriters

Tempe, AZ · Accounting/Finance

Conventional Underwriters REMOTE Opportunity

Essential Responsibilities:

The Conventional Underwriter is responsible for validating income, asset and collateral documents including self-employed tax returns.  The Underwriter may be involved in one or several types of mortgage lending (government-backed, etc.). Excellent phone and communication skills and a value of providing superior customer service to internal and external customers required.

  • Evaluates loan applications for risks and various criteria such as investor requirements, accuracy, consistency and completeness
  • Review new loan files to ensure loan meets investor and program criteria. Minimum standard of 60 loans per month and a turn time of 24 hours required
  • Review transmittal & 1003 to make sure it is accurate and complete, compare to findings to verify that all information matches
  • Review credit report and compare to liabilities on 1003. Verify the investor guidelines for outstanding derogatory items and requirement payment or satisfaction if needed. Request updated mortgage history if needed
  • Calculate income using documentation required per investor, questioning any large changes in income
  • Review assets statements to compare to required assets. Require documentation and source for any recent large deposits
  • Review title to verify our borrower has ownership on a refinance transaction and that the seller has ownership for purchase transaction. Check that chain of title meets investor requirements. Verify there are no unpaid liens or judgements and that all mortgage liens being paid off through the transaction. Compare tax figures to 1003
  • Review appraisal to ensure the value is supported and that the appraiser has provided complete accurate appraisal. Order value review on loans considered high risk
  • Review file to make sure compliance has been met; regulatory, state compliance and federal (patriot act)
  • Calculate net tangible benefit for those states that require this test
  • Verify that the rate lock matches the underwriting file with the correct program, LTV, credit score and pre-payment penalty
  • Review final conditions turned in for Underwriting Final Approval within 24 hours
  • Review a minimum number of files per day, to include new submissions, re-submissions & final conditions
  • Maintain current and fluid knowledge of investor and agency guidelines
  • Approves loan with proper documentation or recommends further action
  • Communicates effectively and engages proactively with loan originators, processors, branch managers, funders and post-closers in regards to loan decisions, assignment of loan conditions, investor guidelines/documentation requirements and possible loan scenarios
  • Applies knowledge of underwriting and pre-underwriting to best serve loan applicant and investor needs
  • Performs other related duties as assigned

  • Bachelor’s Degree or equivalent combination of education and experience
  • 5+ years of recent Mortgage Underwriting Experience with strong agency guideline knowledge
  • Strong working knowledge of ATR/QM Requirements
  • Encompass LOS experience is a plus
  • Ability to work in a fast paced, fluid environment and be held to minimum production standards
  • High integrity and outstanding work ethic required
  • Strong computer skills; proficient in Microsoft Word, Excel and Outlook
  • Must have proficient written and verbal communication skills
  • Knowledge of compliance and disclosure requirements
  • Knowledge of closing, post-closing & quality control responsibilities

A generous compensation package and relocation available.

Only qualified candidates will be considered. 

The EMAC Group is a Headhunting and Executive Search Firm for the mortgage industry. Our clients range from regional and national banks, direct-to-agency lenders and correspondent mortgage bankers that are focused on acquiring the best talent.

We realize the search for your Ideal Job requires time, our Talent Agents provide you with one-on-one interview preparation and coaching to help you find the best-fit employers to achieve your career aspirations.

We respect your privacy and all inquiries are strictly confidential.

The team at EMAC has helped thousands of industry professionals like you find their ideal job since 1995.

Schedule a confidential Discovery Call!  

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