Mortgage Underwriter

Socket.dev; Greenville (SC); On-site; USD 75,000 - 110,000; Full time

Job summary

Socket.dev is seeking a mortgage underwriter to review loan files, assess financial status, and determine feasibility of funding in accordance with FNMA and FHLMC guidelines.

The role requires strong analytical skills, attention to detail, and the ability to work independently while coordinating with bank executives and external mortgage firms. Experience in underwriting and regulatory knowledge is essential.

Qualifications

• Bachelor's degree in finance or accounting preferred.
• DE and LAPP certifications required.
• Minimum of five years lending experience, including three years underwriting experience.

Responsibilities

• Review loan files for FNMA/FHLMC forms and information.
• Analyze applicant's financial status and property evaluation.
• Make an underwriting decision for each loan.
• Audit loan files before and after funding.

Skills

Analytical skills

Communication

Organization

Independent work

Attention to detail

Education

Bachelor's degree in finance or accounting

High school diploma

DE and LAPP certifications

Job description

ESSENTIAL RESPONSIBILITIES

• Receive loan files originated by the financial institution and reviews files for all necessary forms and information according to FNMA and FHLMC underwriting guidelines.
• Analyze applicant’s financial status, credit and property evaluation to determine feasibility of granting loan.
• Submit applications to credit analyst for verification and recommendation.
• Make an underwriting decision for each loan.
• Confer with bank executives to aid in resolving mortgage application problems.
• Communicate with outside mortgage firms, financial institution mortgage loan officers and clients of the financial institution to underwrite files properly.
• Keep informed of current underwriting practices and assists in updating the financial institution’s underwriting policies.
• Analyze potential loan markets to develop prospects for loan.
• Responsible for audits of loan files prior to and after funding is obtained.
• Work with appropriate areas within the bank in obtaining funding for loan files.
• Prepare records and reports as requested regarding loan file activity.
• Complete other duties as assigned.

ESSENTIAL SKILLS, EDUCATION AND EXPERIENCE

• High school diploma with previous banking and/or financial experience.
• Bachelor’s degree in finance or accounting is preferable.
• Knowledge of basic lending and underwriting policies and procedures, including guidelines issued by FNMA and FHLMC.
• Minimum of five years previous lending experience, including at least three years actual underwriting experience.
• Must have DE and LAPP certifications.
• Knowledge of all federal and state regulations regarding lending and related departments.
• Skill in assessing quality of loans originated and purchased by the financial institution.
• Superior analytical thinking and mathematical skills.
• Accurate typing, spelling and grammar skills.
• Good written and oral communication skills.
• Good organizational skills.
• Interpersonal skills to represent the Bank in a positive way in dealing with clients and other team members
• Ability to adjust to change and a willingness to be a team player
• Maintain regular consistent and professional attendance, punctuality and personal appearance
• Ability to work independently and take initiative to exercise judgment and make decisions within scope of authority
• Ability to think and act quickly and to follow procedures
• Must have own transportation
• Must be able to sit for long periods of time as position involves majority of time spent at desk and computer
• Strong working knowledge of industry guidelines and financial institution products and services.
• Be able to work within the time frames of rate locks and at times less than 30 day closing requirement on sales contracts.
• Knowledgeable on applicable computer software systems to include work processing, databases, and spreadsheets.
• Thoroughly knowledgeable of mortgage products and services offered.

WORK CONDITIONS

• Must be able to sit at a desk and computer for long periods of time.
• Minimal travel required.