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Waterstone Mortgage Corporation · 1 day ago

Mortgage Underwriter

United States

Full-time

Remote

Mid Level

3+ years exp

Waterstone Mortgage Corporation is seeking a Mortgage Underwriter to join their team, where expertise is valued and contributions matter. The role involves reviewing and evaluating residential mortgage applications to ensure compliance with underwriting guidelines and assisting customers in achieving their homeownership goals.

Financial ServicesMortgageReal Estate

Responsibilities

Review and evaluate residential mortgage applications and documentation to determine if borrower, property, and loan conditions meet investor, FNMA, FHLMC, and FHA or VA underwriting guidelines and render a loan decision ensuring completeness, accuracy and compliance. This includes but is not limited to full credit file submissions and pre-approvals

Review all documentation submitted in a file for compliance with product and investor guidelines, borrower validation, Ability to Repay and risk mitigation

Calculate income and assets accurately and require sufficient documentation to support findings and decision. Follow AUS findings is a requirement with no exceptions. Adhere to overlays as dictated by the private investors, agencies and WMC

Make an underwriting decision on each loan file within determined underwriting service level agreements and effectively communicates all underwriting decisions to the appropriate parties

Effective communication with Loan Officer and/or Loan Processor/Partner to aid in resolving mortgage application conditions

Enter all underwriting conditions and all HMDA data specific to the underwriting decision into Encompass LOS system

Keep informed of current underwriting practices

Order PMI as per investor and program requirements through approved PMI companies

Make recommendations and assist in implementation of appropriate changes to WMC’s policies and procedures

Consistently meet or exceed established minimum productivity and quality goals

Stay within acceptable tolerance levels on pre-audit and post-closing findings and repurchases set forth by the underwriting parameters

Underwriters responsible for staying up to date with the product updates provided by WMC and all investor/agencies

Complete any additional duties assigned by management

Complete regulatory and compliance training, as required

Assist WMC employees and departments as needed

Qualification

Automated underwriting softwareConventional loansFHA loansLending policies knowledgeCustomer service skills

Required

Ability to use and comprehend the findings from automated underwriting software (i.e. Desktop Underwriting and Loan Prospector) is required

Current experience with conventional loans is required

High School diploma or general education degree (GED) is required

3-5 years' experience as a Loan Underwriter is required

Knowledge of basic lending and underwriting policies and procedures, including guidelines issued by FNMA, FHLMC and FHA or VA and investors is required

Processing and underwriting knowledge of FHA loans is required

Using excellent customer service skills which includes maintaining a good attitude, taking ownership of meeting customer needs, going above and beyond for customers, demonstrating a commitment to sharpening skills through education and training, using positive communication, and looking for opportunities to respect customers' time and schedules is required