Mortgage Underwriter

Orcapod Consulting Services; Hyderabad, Chennai District; On-site; INR 800,000 - 1,500,000; Full time

Job summary

Orcapod Consulting Services in Hyderabad, India seeks an experienced Loan Underwriter III to underwrite conventional, FHA, VA, and CRA residential mortgage applications in line with bank policies. You will validate documents and evaluate all required materials to ensure loan quality.

Responsibilities include approving loans or offering alternatives, guiding staff, and ensuring adherence to regulatory requirements while maintaining efficient, accurate processing to meet deadlines.

Qualifications

• 2-year degree or equivalent experience preferred.
• 3-5 years loan underwriting experience or 5-7 years of loan processing experience.
• Knowledge of FNMA DU automated underwriting system.
• Familiarity with FHA and VA government loans.
• Strong communication and customer service skills.
• Detail oriented with excellent organizational skills.
• Ability to manage heavy workloads and meet deadlines.
• Knowledge of CRA products and industry.

Responsibilities

• Underwrites residential mortgage and consumer loans and evaluates risk while ensuring quality.
• Approves loans, issues alternative options, or adverse action per bank policies.
• Validates data entry in the Loan Operating System and evaluates required documents.
• Evaluates all documents and conditions of loans.
• Identifies loans for exceptions and ensures proper procedures are followed.
• Escalates integrity issues and ensures compliance with guidelines and regulations.
• Maintains knowledge of loan product guidelines and regulatory requirements.
• Coaches and mentors assigned operations staff; assists with training.
• Monitors vendor performance and submits monthly reports to management.

Skills

Loan underwriting

Regulatory knowledge

Analytical skills

Attention to detail

Communication

Time management

Education

Two-year degree

Job description

Job Profile Summary: The Loan Underwriter III underwrites and evaluates conventional, FHA, VA, and CRA Residential Mortgage applications in compliance with bank policies and procedures. This job also underwrites and evaluates Home Equity and Consumer Loans.

Depth & Scope:

• Underwrites ethical and salable residential mortgage and consumer loans and evaluates risk while ensuring the quality of each loan submitted
• Approves loans, issues alternative options, or adverse action accordingly using sound judgment while applying bank policies and procedures
• Validates the data entry to the appropriate Loan Operating System and evaluates all applicable documentation as required by job function
• Evaluates all documents and conditions loan accordingly
• Identifies loans for exceptions while ensuring proper procedures are followed for approval and documentation; clears or resolves any issues
• Escalates integrity issues as appropriate and ensures files are compliant to internal guidelines and external regulatory requirements
• Maintains knowledge of loan product guidelines, internal policies and procedures, and regulatory requirements
• Coaches and mentors assigned operations staff; assists with training and guidance as assigned
• Monitors vendor performance if required, submits monthly reports to management

Education & Experience:

• 2-year degree or equivalent experience preferred
• 3-5 years loan underwriting experience or 5-7 years of loan processing experience
• 3-5 Years Residential Loan Underwriting Experience
• Supports the High Net Worth/Wealth Mgmt customers, with residential/consumer lending limits in the $1-2MM aggregate range as approved by Credit Risk Management
• Outstanding knowledge of loan underwriting documentation requirements
• Mortgage Operations - complete knowledge of FNMA DU automated underwriting system; must also be familiar with underwriting jumbo loans and government products such as FHA and VA loans
• Ability to effectively communicate with all types of personalities and the ability to provide excellent customer service to both internal and external customers
• Superior oral and written communication skills
• Excellent PC skills
• In-depth knowledge of regulatory, investor and departmental lending policies for underwriting of conventional loan requests
• In-depth knowledge of CRA products and industry
• Detail oriented, possessing excellent organizational, analytical and decision making skills
• Ability to communicate with multiple business partners in the organization
• Ability to handle heavy workload, multitask and meet stringent deadlines