Mortgage Loan Underwriter- (35)
Company: Latitude, Inc.
Posted on: January 27, 2023
Citizenship: US Citizen or Green Card HolderWhat they do:
Bank/Credit UnionMain Focus-
2+ years of mortgage underwriting
experience (does NOT need to be with a bank/credit union)Will be a
mixture of onsite & remote workWill need to pass background, drug
and credit checks -In this role as a Mortgage Loan Underwriter you
will, under general supervision but following established policies
and procedures, be responsible for underwriting first mortgage and
home equity loans/lines of credit in accordance with the companys
and investor guidelines. The Mortgage Loan Underwriter will respond
to audits requests and performs quality control on mortgage files.
To be a leader within the department and to help Management achieve
department goals and objectives. In addition, this position may act
as a mortgage loan originator (MLO) as defined in the Secure and
Fair Enforcement for Mortgage Licensing Act (S.A.F.E. Act).The
Mortgage Loan Underwriter will also:
- Complete a thorough analysis of the loan file to determine
member credit worthiness and collateral value. Review legal
documentation as applicable.
- Evaluate geographic area, loan type, ownership and occupancy of
the residence and assure proper adjustments are made to loan terms,
rate or amount when applicable.
- Underwrite to current Regulatory/FHLMC/Aggregator
- Assist with maintaining compliance with all applicable federal,
state and local laws, regulations and in ordinances with the
companys compliance program and all policies, procedures, rules and
- Evaluate the entire credit package and collateral for
residential mortgage loans and ultimately ensures an investment
quality loan product. This includes full condominium reviews and
complex tax returns when applicable.
- Order and obtain mortgage insurance, if required, ensuring that
loan also meets any underwriting guidelines and credit overlays by
the mortgage insurance companies being used.
- Analyze the information presented within the file with regard
to the borrower's ability to repay, the borrower's willingness to
repay and the collateral being given to determine if the risk of
borrower default is low enough to merit a loan approval.
- Determine that valid liens in the proper recording position can
be obtained by analyzing title examination and public record
- Maintain a working knowledge of secondary market underwriting
guidelines, investor, and private mortgage insurance
- Interpret policies and guidelines for loan processors and other
employees requiring guidance.
- Communicate clearly when documentation is inaccurate.
- Verify that all information maintained in the loan application
processing software is consistent with and supported by the
documentation within the file.
- Document conditions, conversations, and observations within the
mortgage system of record.
- Participate in the development of policy changes, program
implementation, and procedural improvements.
- Resolve complex member problems with-in delegated limits.
- Discuss complex income calculations.
- Actively look for exceptions within delegated authority.
Present exceptions and recommendations to management.
- Respond to post closing review and audits in a timely
- Responsible for understanding and complying in an accurate and
timely basis with all Bank Secrecy Act/Anti-Money Laundering/OFAC
requirements that pertain to your position as directed by
management and/or the Senior Vice President of Risk
- Performs other duties as assigned by the Vice President of
Mortgage Lending and the Senior Vice President of Mortgage Lending.
-Requirements:The ideal candidate will:
- Demonstrate a working knowledge of FNMA/FHLMC guidelines.
- Demonstrate a working knowledge of Mortgage Insurance
- Demonstrate the ability to conduct a detailed review of a loan
file, analyze an applicant's financial position, and evaluate the
risk based on the loan profile under the terms requested
- Demonstrate analytical decision-making ability with attention
- Demonstrate the ability to learn and work in a fast-paced work
- Ability to multitask and prioritize work as required
- Provide all members with professional support, accurate
information, and friendly service.
- Troubleshoot and resolve internal inquiries in a timely,
friendly and professional manner.
- Maintain positive member relations while adhering to policy and
- Contribute to the successful achievement of Organizational and
Departmental goals as set by management and/or the VP of Mortgage
Lending and/or SVP of Mortgage Lending.
- Maintains confidentiality at all times.
- Maintain a dependable record of attendance and timeliness.
- Have a desire to work in an inclusive and diverse office
- Be enthusiastic and positive about your role in the companys
- Be excited to collaborate with others on strategic projects and
daily operations -Qualified -candidates will have the following:
- A positive credit standingExperience:
- Minimum of 3 years or more of equivalent experience in the area
of underwriting conventional first mortgage loans and second
- 1-3 years experience within the primary market of the Mortgage
Industry is preferredEducation:
- High School Diploma or equivalent required.
- Working knowledge of MS Office applications including but not
limited to Outlook, Word, Excel and other applications. - -Powered
Keywords: Latitude, Inc., Rockville , Mortgage Loan Underwriter- (35), Other , Rockville, Maryland
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