Summary: Underwrites residential mortgage loans in accordance with FHA/HUD/VA/USDA guidelines and internal guidelines ensuring compliance with company and investor standards. Responsible for managing all phases of the underwriting process using thorough knowledge of complex personal and business financial analysis, including expertise in tax return and balance sheet analysis. Has the authority to withdraw and decline loans and makes decisions with due diligence in a prudent and timely manner.
Essential Duties and Responsibilities
- Uses detailed knowledge of FHA/VA/USDA guidelines to examine and analyze loan documentation for accuracy and completeness and spreads financial statements in preparation for detailed analysis to make decision regarding the borrower's capacity to repay the loan. Uses financial statements, income calculator worksheets, tax returns and debt ratios to identify declining income and other concerns and uses credit expertise to determine reasons for the declining income.
- In order to determine the overall acceptability of the loan, uses discretion to analyze other parts of the loan package including the appraisal, credit report, collateral, title policies, and inspections, ensuring compliance with FHA/VA/USDA guidelines, including any jurisdictional requirements. Relies on independent judgment to stay attuned to warning signs that may indicate irregularities and/or fraud.
- Clearly communicates agency, corporate, and investor guidelines to customers, loan processors, and sales associates. If the loan is declined or if the loan is approved with conditions, documents the analysis in detail and provides clear guidance for what is needed to clear the conditions at time of resubmission.
- After analysis and independent decisions on at least two new files each workday, the underwriter then handles resubmissions and clearing of conditions on prior files underwritten. Initiates ongoing follow-up and communication on pending files and will touch an average of 8-10 loans per day, using judgment to prioritize and manage all loans through the process to completion.
- Provides outstanding customer service and interacts with fellow employees in a manner that promotes teamwork and professionalism. Represents Florida Capital Bank as a respected business professional. Performs other duties as assigned, including special projects.
Bachelor's degree from 4-year college or university in Finance/Business or other related area of study; or equivalent combination of education and work experience.
Must have valid DE/CHUMS ID and VA SAR ID.
Minimum five years' experience underwriting FHA/VA Loans and experience underwriting USDA loans In-depth understanding of processing, underwriting, and closing procedures, and of underwriting systems and their interdependencies.
Evaluate risk selection, review all potential loan risk factors and identification of potential fraud indicators
Managing daily underwriting workflow in accordance to client's deadlines and delivery timetables.
Possesses in-depth knowledge of a variety of loan products and program guidelines.
Strong analytic, interpersonal, organizational and communication skills
Deadline oriented with ability to manage pipeline in fast-paced environment
10+ years of mortgage underwriting experience preferred.
Proficiency with LP/DU AUS systems
Experience processing Conventional, FHA and VA USDA