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Bank of England Mortgage · 3 months ago

Mortgage Loan Underwriter

Little Rock, AR, US

Full-time

Onsite

Mid Level

3+ years exp

Bank of England Mortgage is a leading financial institution focused on providing exceptional mortgage services. The Mortgage Loan Underwriter is responsible for underwriting portfolio and secondary market loans, ensuring compliance with internal policies and investor guidelines while providing administrative support to the Residential Loan Underwriting Department.

BankingCreditFinanceFinancial ServicesHome Renovation

Culture & Values

Responsibilities

Perform loan file review and underwriting to determine compliance with investor guidelines, underwriting philosophy, policy and procedures. Ensure timeliness, accuracy and productivity levels established by management

Review sources of income and verifiable income amount in order to ascertain correct debt-to-income calculation. Assess the overall risk and credit quality of loans based on transaction type, analysis of income, assets, credit and collateral

Ability to review, interpret and analyze loan applicants’ credit histories, income and assets, tax returns, financial statements, and other complex financial information to render a loan decision, and effectively present loans to higher lending authorities

Review documentation including flood certification, insurance documentation and property tax information to ascertain that correct proposed loan payment amount was calculated correctly. Use of a financial calculator

Thorough understanding of residential real estate appraisal report requirements and the ability to review appraisals for accuracy

Demonstrated ability to be flexible and open minded in restructuring a loan to mitigate risks

A thorough understanding of FDIC compliance regulations, as related to lending practices with a general knowledge of the bank secrecy act, branch security and safety requirements and other regulations. A general knowledge of financial principles and concepts to interpret financial reports as it relates to loan underwriting and use of a financial calculator

Determine if LTV, DTI and other criteria comply with lending parameters of various loan programs and investor requirements

For loans declined, forward file and findings to second reviewer and communicate results to Loan Officer. For loans conditionally approved, communicate conditions to close to Loan Processor and review additional information once it is provided. For loans approved as submitted, document work and approval and communicate results to Loan Processor

Comply and stay abreast with Bank Secrecy Act rules, regulations, loan program requirements and investor requirements that may affect underwriting standards or processes

Assist in any quality control audit findings

Assist as needed with annual HUD and financial audits

Other duties as assigned

Qualification

Mortgage UnderwritingEncompass 360Analytical skillsCustomer serviceFinancial CalculatorFHA/FNMA/FHLMC/VA/RD experienceMulti-taskingFraud tools knowledgeMortgage insurance guidelinesCommunication skillsFlexibility

Required

High School Diploma or GED equivalent required, some college preferred; BS degree desired

A minimum of three (3) years current Mortgage Underwriting work experience in Underwriting Conforming and/or Non-Conforming mortgage loans

Excellent Proficiency in computer skills with Microsoft Office/Word, Excel, Financial Calculator and Mortgage Loan Applications/Software) Encompass 360

Excellent customer service skills; written and oral communication skills and ability to demonstrate control, flexibility and maintain quality and high productivity when dealing with changing work demand

Working knowledge of various fraud tools

Working knowledge of mortgage insurance (MI) guidelines

Possess strong analytical and decision making skills

Ability to multi-task and operate in a high-volume, fast-paced environment

Must be able to perform essential responsibilities with or without reasonable accommodation