Correspondent Senior Underwriter

Plaza Home Mortgage, Inc.; United States; On-site; USD 85,000 - 115,000; Full time

Benefits offered by this job

Medical/dental/vision insurance

Paid time off

401(k) plan

Life and pet insurance

Job summary

A national mortgage lender is seeking a Correspondent Senior Underwriter responsible for analyzing and evaluating consumer home loan applications. Ideal candidates will have solid knowledge of underwriting guidelines, recent experience in the mortgage industry, and a strong commitment to customer service. This position offers a competitive benefits package, including health insurance and retirement plans.

Qualifications

• Working knowledge of loan program products and services, and policies essential.
• Experience with Loan Origination Systems.
• Recent Underwriting experience in the mortgage industry is a must.

Responsibilities

• Perform mortgage credit analysis to determine Borrower’s willingness and ability to repay the mortgage debt.
• Review and validate income, asset, credit, title, value, and fraud reports.
• Approve/deny loans, updating the system accordingly.
• Mentor junior underwriters and support training when requested.

Skills

Loan program knowledge

Thorough understanding of state and federal regulations

Customer service commitment

Organizational skills

Problem solving abilities

Education

High school diploma or equivalent

College degree preferred

Tools

Loan Origination Systems

Automated underwriting systems

Job description

Join to apply for the Correspondent Senior Underwriter role at Plaza Home Mortgage, Inc.

Founded in 2000, Plaza Home Mortgage, Inc. is a privately owned, full-service national lender, offering Wholesale, Correspondent, Renovation and Reverse residential mortgages. Headquartered in San Diego, California, Plaza employs a network of sales associates to serve its clients nationwide.

Plaza is dedicated to building quality, long-term relationships with its mortgage broker and correspondent clients by offering comprehensive programs and exceptional customer experience.

This position is responsible for analyzing and evaluating consumer home loan applications as well as the supporting documentation to assess Borrower’s credit worthiness. Types of consumer loan applications include, but are not limited to Conventional, Jumbo, FHA, VA and USDA residential first mortgages.

Responsibilities and Duties

• Perform mortgage credit analysis, with or without the assistance of an automated underwriting system to determine Borrower’s willingness and ability to repay the mortgage debt
• Knowledge of FNMA, FMLMC, FHA, USDA, and VA documentation and general guidelines/standards.
• Validate loan application and supporting documentation, and verify system of record reflects correct information.
• Review and validate: income, asset, credit, title, value and fraud reports
• Ensure all required property information is in system
• Look over all loans to substantiate that they meet Plaza’s underwriting guidelines
• Pull credit report as required
• Confirm government required documents are complete and accurate
• Review title information, and purchase contract, if applicable
• Run and review quality control tools
• Run, review and interpret DU/LP/GUS/TotalScoreCard, when applicable
• Document system with all dates and information
• Certify system data integrity
• May underwrite one or all of the following loan types: Conventional, Jumbo, FHA, FHA 203k, VA, and USDA based on lending authority levels
• Maintain production standard goals as established by management
• Ability to act as FHA DE and/or VA Automatic and SAR Underwriter
• Order and review MI based on loan program.
• Approve/deny loans, and update the system accordingly with P.A.C.E comments
• Re underwrite loans when additional information has been received
• May be asked to second sign loan decisions for lower level authority underwriters
• May occasionally be required to provide training for and mentoring of Junior Underwriters and newly hired Senior Underwriters
• Answer and research general underwriting scenario and guideline questions via email and phone
• Complete all required underwriting, worksheet and checklists
• Assist in resolving branch post-closing suspense issues
• Must be able to evaluate and analyze complex income tax returns to establish qualifying income
• Other duties as assigned

Qualifications

• Working knowledge of loan program products and services, and policies essential
• Thorough grasp of state and federal regulations is required as well as a solid understanding of: HMDA, Regulation Z, Regulation B; the FHLMC, FNMA, FHA rules and processes
• Experience with Loan Origination Systems
• Knowledge of paperless file environment and image software repository
• Genuine commitment to customer service
• Solid organizational and problem solving skills
• Proven aptitude to work in both a team and individual environment
• High school diploma or equivalent required; College degree preferred
• Recent Underwriting experience in the mortgage industry is a must
• Experience with (AUS) automated underwriting systems

Plaza offers a competitive benefits package; including medical/dental/vision, paid time off and holidays, 401(k), life and pet insurance.

Plaza is an EEOC employer and follows all federal, state, and local laws relating to fair employment.