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Mortgage Underwriter III

LONG ISLAND CITY-11102, NY, US
09/22/2020

-

Required Skills

MS Office

Company

Infinity Consulting Solutions, Inc

Experience

Job Description

Mortgage Underwriter III

Overview

Within assigned real estate loan approval authority, responsible for first and second mortgage underwriting decisions in compliance with applicable Federal, State and NCUA rules, regulations and laws and secondary market guidelines. T

This includes communication with the Underwriting, Processing and Originations staff while upholding commitment to member service.

Responsibilities

ACCOUNTABILITIES:

Provide feedback to the Mortgage Processors, Underwriters and Mortgage Representatives/Loan
Originators in order to ensure service excellence to members. Perform second level reviews and approve loans in excess of Underwriters' authorized limit. Prepare executive write-ups and underwrite loans with aggregate amounts greater than $1 million.

Review loan applications for completeness and ensure interest rate, terms and amounts are correct in all applicable systems within SLA turn times. This includes ensuring members and Mortgage

Representatives/Loan Originators have fully completed applications and all sections including HMDA are completed; ensure minimum standard documentation is in the file.

Underwrite all nonconforming loans to ensure compliance with company and secondary market guidelines and make alternative recommendations as applicable. Prepare and present recommendations, counter offers and exceptions to Loan Panel.

Review and analyze offering plans, amendments, questionnaires and financials for all cooperative and condominium buildings for compliance with company and secondary market guidelines.

Review and analyze all pertinent information such as personal and business tax returns, bank statements, income documentation and assets to properly determine income to qualify the members for mortgage loans.

Prepare loan packages for submission to PMI companies with Delegated Underwriting. Monitor files for compliance with any approval conditions.

Monitor the active and suspended pipeline to ensure decisions are made within department guidelines.

Ensure quality control/audit responses are completed timely.

Provide training to Mortgage Representatives/Loan Officers, Processors and other Underwriters when necessary.

Make recommendations to improve the mortgage process and actively participate in department meetings.

Evaluate the entire credit package and collateral for residential mortgage loans and ultimately ensure an "investment” quality loan product.

Remain available to processors and correspondents for general guideline interpretations and questions on specific loan files.

Complete other duties as assigned by management.

Qualifications

TYPE & AMOUNT OF EXPERIENCE:

High School Diploma and a minimum of 7-10 years underwriting experience working with jumbo, nonconforming loans, FHA, VA, HELOCs, 2nd mortgages, correspondent and Client/FHMLC conforming loans (jumbo, nonconforming loans are a must)

TECHNICAL COMPETENCIES:

Advanced ability to analyze complex tax returns and accurately calculate income for all S/E business types

Extensive knowledge of co-op and condo analysis (project review)

Demonstrate working knowledge of federal and state guidelines, rules and regulations, such as RESPA, TILA, HMDA, TRID, etc.

Proficiency with MS Office and applicable mortgage software

BEHAVIORAL COMPETENCIES:

Excellent oral and written communication skills, interpersonal skills and sales/service skills

Attention to detail and ability to learn quickly

Ability to think outside of the box while exercising sound decision-making

WORK ENVIRONMENT:

Standard office conditions

Willingness to work flexible hours