Loan Underwriter - 3 to 6 months contract
Location: Southington, CT
Loan Underwriter will underwrite and assess credit quality of residential mortgage loan requests in accordance with credit policies and/or investor guidelines. Responsible for review and analysis of entire file, including application, credit report, investor findings (i.e. Fannie Mae Desktop Underwriter, DU), income and asset documentation, customer identification information, OFAC review, title verification, fraud review, and collateral review, including in-depth review of property valuation (i.e. full appraisal). Render final decision on pipeline of loans and recommend decisions on loans that exceed authority
- Have a strong understanding of credit policies and investor guidelines.
- Maintain acceptable level of quality for all loan files. Each underwriter will be held accountable for the quality of loan files, to ensure all supporting documentation is in the file, the loan was approved within product guidelines, and that the loan was approved with proper signoff.
- Efficiently manage pipeline of loans, including follow-up to ensure timely decisioning of loans.
- Review declined loan files for exceptions. Make business case and present exception requests (if warranted) to management.
- Stay up to date on work-flow and procedures. Review processes and recommend efficiencies. Maintain strong working knowledge of loan origination software.
- Monitor compliance with state and federal regulatory requirements. Ensure accuracy of HMDA data for reporting.
- Stay abreast of bank and industry requirements.
Work closely with partners (Mortgage Banking Officers, Processors, etc.). Respond to routine and complex customer inquiries, interpret questions/requests and ensure proper resolution.