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Underwriter (DE/SAR)

Waukesha, Wisconsin
Job Type
18 Sep 2022

Underwrites residential loans ensuring compliance with appropriate company, secondary market Investor standards, and all applicable laws. The Underwriter will be responsible for examining loan documentation for accuracy and completeness; is involved in one or several types of mortgage lending including but not limited to conventional program loans. Must be able to underwrite wholesale and retail loans within the company and industry guidelines. The Underwriter will also be working with Loan Originators, Branch Managers, and Processors to secure all required documents.

Designation Required

  • Underwrites loan Program Loans to verify for completeness, accuracy, and compliance.
  • Develops and maintains an up-to-date and sound knowledge of multiple loan product guidelines offered by the company, DU/LP guidelines, and risk assessment tools used to decision mortgage loans
  • Adherence to policies and procedures set forth by Novus Home Mortgage
  • Revises loans to new terms and identifies additional conditions as needed to ensure a viable credit decision
  • Reviews and evaluates borrower(s) profile including but not limited to all income documentation, tax returns, credit reports, preliminary report, judgments, bankruptcy documents, and appraisals
  • Analyzes and calculates income documentation and ensures all necessary documentation is requested to support final loan decisions
  • Ensure loans meet the Ability to Repay (ATR) rules established by the Consumer Financial Protection Bureau (CFPB)
  • Exercises good judgment conducts reasonableness tests, and issues quality decisions
  • Determines the accuracy and completeness of files; ensures processes are consistent
  • Maintains pre-established service level standard of decisions within the time frame set by the company
  • Communicates regularly with the sales team, processors, and management
  • Consistently meet or exceed established minimum productivity and quality goals set forth by management
  • Responsible for a timely response on audits of loan files underwritten prior to and after funding is obtained.
  • Review all documentation submitted in a file for compliance with product and investor guidelines, borrower validation, Ability to Repay, and risk mitigation.
  • Perform other duties as assigned.

  • A minimum of two years of current frontline mortgage Underwriting is required; DE or SAR required
  • Appraisal review and tax return analysis skills required
  • Prior credit signing authority a plus
  • Strong analytical and decision-making/problem-solving skills
  • Possess a keen eye for accuracy, attention to detail, and the ability to handle a high volume workload
  • Proficient in computers including LOS systems, specifically Encompass
  • Ability to deliver effective results and to meet deadlines with minimal supervision
  • High School diploma or equivalent

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities

The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor's legal duty to furnish information. 41 CFR 60-1.35(c)
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  • Job Reference: 715269167-2
  • Date Posted: 18 September 2022
  • Recruiter: Novus Home Mortgage
  • Location: Waukesha, Wisconsin
  • Salary: On Application
  • Sector: Insurance & Superannuation
  • Job Type: Permanent