Jumbo Underwriter

New American Funding; United States; Remote; USD 80,000 - 120,000; Full time

Job summary

A leading company in the mortgage industry is seeking a Jumbo Underwriter to provide thorough evaluations of credit and property documents. The position requires expertise in Non-Agency Jumbo loans and the ability to communicate effectively while working under pressure in a fast-paced environment.

Qualifications

• Five years of mortgage underwriting experience with Non-Conforming or Non-Agency Jumbo loans.
• Must have experience with Non-QM investor and loan programs.
• Superior knowledge of underwriting requirements for various investors.

Responsibilities

• Evaluate mortgage loan applications and determine eligibility.
• Perform credit and property analysis on complex loan files.
• Communicate decisions and maintain relationships with teams and clients.

Skills

Analytical skills

Communication skills

Problem solving

Organizational skills

Education

High School Diploma

Tools

Encompass 360

Job description

Overview

Position: Jumbo Underwriter- must have exprience with Non- QM investor and programs

Position Summary:

Primary responsibilities include providing the thorough evaluation of credit and property documents in loan files, identify potential risks, and advise as to the appropriate decision of the file as it relates to approving, declining or suspending the loan based upon New American Funding's underwriting guidelines concerning borrower eligibility and investors' requirements. Other duties include maintaining underwriting turn times, working with processors and loan officers to provide guidance on a case-by-case basis, and keep up with guidelines as set forth by Fannie Mae, Freddie Mac, Appendix Q, and multiple delegated Jumbo investors.

Responsibilities

• Review all loan submissions submitted by production and origination staff and generate initial credit decision in accordance with FNMA, FHLMC, Non-Agency Jumbo, New American Funding Non-QM, and other private investor guidelines as well as internal overlays.
• Ability to underwrite to multiple Non-Agency Jumbo investors in a changing market and regulatory environment.
• Evaluate mortgage loan applications to determine eligibility, acceptability, and compliance with applicable state, federal and investor guidelines.
• Perform credit and property analysis on conventional and Non-Agency Jumbo files.
• Analyze complex tax returns and accurately calculate income.
• Identify key loan factors impacting borrower eligibility, property eligibility and credit qualification for complex or atypical financial profiles, collateral and loan structures
• Perform timely reviews of submitted conditions and loan resubmissions and complete credit decisions for complex loans assumed from colleagues
• Identify and summarize Exception loans for escalation to Credit Manager for business decision
• Input data and notes into the Encompass loan system.
• Maintain quality and production standards as set forth by management.
• Effectively communicate, orally, in writing, and via email, the decisions reached as to maintain positive working relationships with coworkers and customers.
• Ability to explain specific reasons for negative credit decisions and recommend possible solutions.
• Other duties may be assigned.

Qualifications

• Non-conforming/Non-Agency Jumbo underwriting experience
• Superior knowledge of and experience with property and credit underwriting requirements of FNMA, FHLMC, Non-Agency Jumbo, and other private investor guidelines, as well as other loan programs and private mortgage insurance companies.
• Excellent written and oral communication skills.
• Superior analytical, organizational and problem solving abilities.
• Ability to work independently, analyze data, take and recommend appropriate actions with minimal supervision.
• Capability of working in a fast-paced environment, under pressure and meet time-sensitive deadlines, all while maintaining a high level of professionalism.

Desired Education/Experience:

• High School Diploma or equivalent.
• Five or more years' mortgage underwriting experience with Non-Conforming or Non-Agency Jumbo loans.
• Experience with Encompass 360

Work Authorization: Must be able to verify identity and employment eligibility to work in the U.S.

Other Duties: This job profile is not intended to be an all-inclusive list of job duties and responsibilities, as one may perform additional related duties as assigned in order to meet the needs of the organization.

Physical Demands: The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. Must be able to lift up to ten pounds. Primary functions require sufficient physical ability and mobility to work in an office setting; to stand or sit for prolonged periods of time; to occasionally stoop, bend, kneel, crouch, reach, and twist; to lift, carry, push, and/or pull light to moderate amounts of weight; to operate office equipment requiring repetitive hand movement and fine coordination including use of a keyboard; and to verbally communicate to exchange information. VISION: See in the normal visual range with or without correction. HEARING: Hear in the normal audio range with or without correction.

[EOE/M/F/D/V. Drug-free workplace.]

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