Job DescriptionThe Underwriter position underwrites residential loans ensuring compliance with appropriate company, secondary market Investor standards, and all applicable laws. Examines loan documentation for accuracy and completeness. Partners with Loan Originators, Branch Managers and Processors to secure all required documents.
Primary Job Duties:
- Responsible for underwriting files and establishing conditions to meet FHA and LBF guidelines.
- Ability to make timely, accurate decisions on all FHA transactions
- Evaluate risk and ensure quality of each loan decision
- Communicate requirements and/or decisions clearly
- Responsible for reviewing all areas of the mortgage loan file to ensure accuracy, completeness, and compliance with internal and regulatory guidelines, including but not limited to Application, Title, Appraisal, Assets, Credit, Condominium information, and income.
- Responsible for clear and concise communication to appropriate parties including but not limited to the processing department on items needed to prepare a loan for closing.
- Partner with processing to close loans in a timely in efficient manner
- Adhere to service level agreements and prioritize workflow
- Maintain quality control standards while maintaining production standards by company's definition
- Assist in identifying, recommending, and/or negotiating alternative loan documentation requirements
Qualifications- Three or more years of current active experience underwriting Reverse Mortgages (Retail and/or Wholesale)
- HECM for Purchase experience is a plus
- Must have a valid active CHUMS Number
- Strong credit, risk analysis, and analytical skills
- Working knowledge of federal and state regulations and requirements with emphasis on MDA, TILA, HUD and RESPA reform.
- Understands the loan flow process including file structure, and documentation requirements.
- Strong verbal and written communication skills
- Attention to detail, with strong organizational and interpersonal skills.
- Ability to work well with a wide range of people, work under pressure with a focus on deadlines, and adapt to changing situations daily
- Ability to use creative thinking to find solutions to problems
- Ability to meet and exceed service level agreements
- Competent risk-assessment skills
- Ability to multi-task
- Excellent time-management skills
- Ability to work independently with minimal supervision in a team environment
- Familiar with HUD underwriting guidelines and documentation, mortgage legal documentation, 3rd party risk assessment products and Federal/ State/Local compliance regulations
- Proprietary Reverse Mortgage underwriting experience is a plus
Additional Information- Due to state employment law requirements Longbridge is currently unable to hire candidate's who reside in the following state's: MA; CT; and NH.
- Working in a growing and dynamic industry
- Full benefits: Medical, Dental, Vision, FSA/HSA, and wide array of voluntary products and discounts
- 401(k) with company match
- Paid time off
- This is a non exempt
- Target base salary range is 95-105K which is based on various factors including skills and work experience.
- In addition to base salary, this role is eligible for a competitive additional compensation program via monthly production bonus that is based on individual performance.
- Please note that salaries that are estimated on various job sites may not reflect the actual compensation. Job sites, set the estimated salary, not Longbridge Financial.
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