Mortgage Underwriter III

Michigan Mutual Anaheim , CA 92808

Posted 3 months ago

Job Summary

The Wholesale Underwriter III is an advanced-level position within the Company. The Wholesale Underwriter III is responsible for reviewing loan submissions to ensure that they meet Company guidelines and evaluate the loan in such a way as to maximize company profit and minimize company risk exposure.

Summary of Role and Responsibilities

  • Reviews all items and conditions provided by borrowers and ensures they meet the required guidelines by utilizing internal and external (e.g., agency) policies and procedures [e.g., automated underwriting systems such as Desktop Underwriter (DU)]

  • Ensures that Company operating standards are met for underwriting and compliance by utilizing internal and external (e.g., agency) policies and procedures

  • Reviews applications and all pertinent disclosures to ensure compliance with all Federal, State and investor requirements are met and upheld

  • Monitors property appraisal process to ensure value of property is accurately presented

  • Analyzes documentation such as credit, income, assets, and appraisals to make sound underwriting decisions based on this analysis by using internal checklist

  • Reviews documentation within Company paperless system (e.g., DocVelocity) and ensures documents are properly classified and organized

  • Makes quality underwriting decisions while maintaining Company turn-time expectations

  • Reviews and clears conditions on all loans to ensure a complete loan package prior to closing

  • Utilizes proprietary and on-line tools [e.g., Lexis/Nexis, Real Quest, Mortgage Electronic Registration System (MERS), AVMs, etc.] to help combat fraudulent activity and ensure quality loan decisions

  • Communicates with peers by sharing underwriting best practices and providing accurate, thorough documentation on best practices or other documentation tools

  • Engages specific strategies (e.g., determines appropriate individuals to resolve escalated customer issues, etc.) to resolve customer questions and concerns

  • Continually reviews underwriting environment, and suggests improvement opportunities to management

  • Acts as a recognized subject matter expert within the Company and partners with management on underwriting-related issues by providing analytical support, and counseling advice for their functional areas

  • Special projects, as assigned

Minimum Knowledge, Skills and Abilities

  • Five
  • years previous experience in a similar role
  • Expert knowledge of conventional and government loan underwriting and selling guidelines (e.g., Fannie Mae, Freddie Mac, FHA, VA, etc.)

  • Underwriter designation certification (e.g., Direct Endorsement, etc.)

  • Ability to communicate effectively with all levels

  • Ability to positively project the Company and department

  • Exceptional customer service

  • Intermediate knowledge in Microsoft Word, Excel, Outlook and Internet Explorer

Preferred Education, Knowledge, Skills and Abilities

  • Seven
  • years previous experience in a similar role
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Mortgage Underwriter III

Michigan Mutual