The Underwriter III is responsible for evaluation, review and approval/denial of loan applications based on investor guidelines. Determines stipulations of loans and communicates directly with required parties to resolve stipulations. Assist other team members with files which exceed approval guidelines and exceptions.
Essential Job Functions:
- Analyzing highly complex financial and credit information according to internal underwriting standards, investor guidelines, and federal regulations
- Underwrites a wide variety of product and loan types with a higher aggregate credit exposure including underwriting exceptions not determined through DU.
- Compile, analyze, and document loan data and credit risk, borrower and property information.
- May review more complex loans requiring exceptions.
- Responsible for providing strong and clear communication to processors, underwriters, mortgage professionals and borrowers regarding documents needed for mortgage loan files to ensure quick turnaround time.
- Provide training and assistance to Underwriters I and Underwriters II to assist with performance improvement and developmental opportunities.
- Adheres to all applicable internal NPI policies and procedures, and protects the confidentiality of borrower information.
- Direct Underwriters I or Underwriters II to perform a variety of administrative duties in support of the operation.
- May lead the work of others in the absence of the Underwriting Manager, ensuring staff has tools and support necessary to efficiently decision loans.
- Other duties as assigned.
- Graduation from a 4-years college or university with major course work in a discipline related to the requirements of the position. Will consider the equivalent combination of job experience and education that demonstrates the ability to perform the essential functions of the job.
- Advanced analysis skills in the areas of credit, layered risk, and income. Ability to underwriting loans at a national level and in all markets. FHA - Direct Endorsement (DE) designation required VA – Lender Appraisal Processing Program (LAPP) and/or Staff Appraisal Reviewer (SAR) designation(s) requiredExperience with Desktop Underwriter (DU) or comparable automated underwriting system required. Basic computer skills required. Experience with word processing beneficial. Prefer experience with TMO.
- Minimum of 5 years mortgage underwriting or lending experience with 1 or more years of lead or supervisory experience in underwriting.