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Valon · 1 day ago

Mortgage Assistance Underwriter

United States

Full-time

Remote

Mid, Senior Level

2+ years exp

Valon is transforming mortgage servicing and consumer direct lending with a technology-first approach. The Mortgage Assistance Underwriter will manage a complex portfolio of loans, focusing on risk assessment and providing solutions for homeowners experiencing financial hardships.

Financial ServicesFinTechReal Estate

Responsibilities

End-to-End Case Management: Manage a full caseload of mortgage assistance applications, overseeing every stage from initial submission to final loan modification

Regulatory Compliance: Review homeowner documentation within the 30-day Regulation X window to determine eligibility for loss mitigation and report findings to investors and insurers

Financial & Risk Analysis: Perform complex calculations for income, expenses, and escrow advances while reviewing BPOs, appraisals, and title searches to assess portfolio risk

Workout Execution: Evaluate and implement various loss mitigation strategies, including loan modifications, forbearances, repayment plans, short sales, and deeds in lieu, ensuring alignment with investor and GSE guidelines

Decisioning & Documentation: Execute approval or denial decisions, handle counter-offers, and manage the generation of all legal documentation, including trial period and closing letters

Default Management & Workouts: Utilize Fannie Mae’s SMDU (Servicing Management Default Underwriter) to evaluate borrowers for loss mitigation options, including Flex Modifications and payment deferrals

Automated Decisioning: Execute rules-based workout decisions through Freddie Mac’s Resolve®, transitioning default management from legacy tools to modern, API-integrated workflows

Ginnie Mae Compliance: Ensure all Ginnie Mae-backed securities remain in compliance with FHA, VA, and USDA guidelines to protect the issuer's standing and minimize claims against the federal guarantee

Risk Analysis: Review complex financial profiles for government-insured loans (FHA/VA), ensuring they meet the stringent eligibility requirements for pooling into Mortgage-Backed Securities (MBS)

Policy Implementation: Stay current with FHFA stabilization strategies and update internal underwriting workflows to align with the latest Agency Selling and Servicing Guides

Caseload Management: Review mortgage assistance applications and manage a caseload of files from application to modification, including ordering BPOs/appraisals and title searches

Communication: Handle all written and verbal correspondence professionally between homeowners, clients, investors, and foreclosure attorneys

Stakeholder Communication: Act as the primary professional contact for homeowners, real estate agents, foreclosure attorneys, and subordinate lien holders regarding file status

Quality Assurance: Conduct "2nd Look" QA reviews to ensure all files meet stringent internal and external compliance standards

Foreclosure Prevention: Coordinate with relevant departments to request and monitor foreclosure holds as necessary to protect the homeowner's status during review

Additional duties may be assigned

Qualification

Fannie Mae guidelinesFreddie Mac guidelinesGinnie Mae complianceLoss mitigation strategiesMortgage underwriting experienceRegulatory knowledgeAnalytical thinkingCustomer serviceTeam playerCommunication skills

Required

High School Diploma or equivalent required

Knowledge of Fannie Mae/DU and Freddie Mac / LPA guidelines and automated underwriting systems

Ability to critically examine credit, income, assets, title, and appraisals for adherence to company, investor, and GSE underwriting guidelines

2 years of Collections, Loss Mitigation, or other mortgage banking, mortgage servicing, or real estate-related experience

2 years of mortgage loan origination/modification experience

2 years of telephone customer contact experience

Knowledge of Fair Debt Collection Protection Act

Ability to work independently in a fast-paced environment as well as part of a team and focus on results

Ability to learn rules, regulations, and laws in order to meet state, investor, client, and insurer guidelines

Ability to structure a workout that serves the best interests of the homeowner/investor/insurer/client

The ability to apply general rules to specific problems to produce answers that make sense. As well as the ability to combine pieces of information to form general rules or conclusions

Analytical Thinking: Ability to interpret complex legal documents, tax returns, and default management messages to render sound credit decisions

Regulatory Knowledge: Understanding of mortgage industry federal regulations including RESPA, TILA, ECOA, TRID, and CFPB

Preferred

5+ years of mortgage/modification underwriting experience

2+ years of Manual Underwriting experience

3-5 years of processing and/or closing experience

Understanding of mortgage industry federal regulations including RESPA, TILA, ECOA, TRID, CFPB, etc

Strong communicator with excellent writing skills

High integrity with strong ethical values

Team player with the ability to work effectively with a variety of team members

Benefits

Competitive salary and 401k plan.

Comprehensive medical, dental, & vision benefits, an EAP for additional support.

In-office snacks and drinks (and Bagel Fridays)!

Company-wide orientation for you to successfully onboard, alongside other learning and development opportunities, including regular review cycles that feature 360 degree feedback.

17 days paid time off, sick days, and 11 company holidays.