Job Title: Underwriter
Department: Underwriting
Location: Remote (New England based preferred)
Position reports to: Chief Risk Officer
Position supervises: N/A
FLSA status: Exempt [ ] Non-Exempt [x]
TMS Core Values:
- Do the Right Thing
- Embrace and Drive Change
- Create and Maintain High Morale, Job Fulfillment, and Enjoyment
- Be Creative and Open-Minded
- Pursue Growth and Learning in Self and Team
- Build Open and Honest Relationships with Communication
General Purpose and Scope:
As an Underwriter, you'll play a crucial role in ensuring the integrity of residential loans, adhering to agency and investor standards. You'll meticulously assess loan applications and documentation, collaborating closely with our loan originators and production staff to maintain compliance and mitigate credit risk. Your responsibilities may also include addressing individual and investor audits.
Responsibilities / Functions:
- Underwrite loans to meet the exacting standards of agencies and investors, emphasizing quality throughout the process.
- Evaluate borrower risk factors, including willingness and ability to repay, by meticulously reviewing application details, credit history, assets, income, and collateral.
- Proficiently handle complex income scenarios, including self-employment income evaluation and appraisal reviews for condominium projects.
- Maintain up-to-date knowledge of FNMA, FHLMC, and FHA guidelines, with DE certification being a requirement. Additional certifications such as VA SAR/LAPP, renovation, or USDA experience are advantageous.
- Demonstrate 5-7 years of prior underwriting experience.
Personal Traits / Competencies:
- Exhibit strong attention to detail alongside exceptional organizational and time management skills.
- Make informed, compliant decisions confidently and logically.
- Communicate effectively both verbally and in writing.
- Thrive in a dynamic market environment, adapting quickly to changes and multitasking efficiently.
- Uphold a positive and professional demeanor, particularly under time constraints.
Technical / Computer Skills:
- Proficient in Desktop Underwriter, Loan Prospector, and FHA Total Mortgage Scorecard.
- Comfortable with various computer software products, with experience in Encompass loan software being beneficial.
- Skilled in Microsoft Office applications.
- Quick to grasp new LOS systems and software interfaces.
Education and Experience:
- Bachelor's degree (BA/BS) or equivalent work experience.
- 5-7 years of previous mortgage underwriting experience.
- DE certification for FHA underwriting is mandatory, with additional certifications such as VA credit certification/LAPP approval for VA loans being advantageous.
- Current knowledge of agency and investor requirements is essential.
Certifications, Licenses: N/A
Hours for position:
- Monday - Friday, 9:00 AM to 5:00 PM
- Overtime may be required, with availability to work additional hours on short notice as determined by management to meet service level agreements.
Conclusion:
This job description aims to provide essential insights into the role's scope and the typical duties performed by those in this position. However, it is not exhaustive and may not encompass all qualifications, skills, efforts, duties, responsibilities, or working conditions associated with the role.
Employment Type: Full-Time
Salary: $ 40,000.00 140,000.00 Per Year
