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
icon no score

See how you match
to the job

Find your dream job anywhere
with the LiveCareer app.
Mobile App Icon
Download the
LiveCareer app and find
your dream job anywhere
App Store Icon Google Play Icon

Boost your job search productivity with our
free Chrome Extension!

lc_apply_tool GET EXTENSION

Similar Jobs

Want to see jobs matched to your resume? Upload One Now! Remove
Mortgage Consultant (Safe)

Wells Fargo

Posted Yesterday

VIEW JOBS 11/13/2019 12:00:00 AM 2020-02-11T00:00 Job Description At Wells Fargo, we want to satisfy our customers' financial needs and help them succeed financially. We're looking for talented people who will put our customers at the center of everything we do. Join our diverse and inclusive team where you'll feel valued and inspired to contribute your unique skills and experience. Help us build a better Wells Fargo. It all begins with outstanding talent. It all begins with you. Consumer Banking is an industry leader in supporting homeowners and consumers in addition to operating one of the most extensive banking franchises in the country. We serve mass market, affluent, and small business customers; as well as provide home and personal lending. Our focus is on delivering an exceptional experience for our customers through financial advice and guidance coupled with providing the products and services that will help them realize their financial hopes and dreams. We've built our team of top professionals by rewarding their accomplishments and ensuring they have what's needed to succeed. This SAFE position has customer contact and job duties which may include the offering/negotiating of terms and/or taking an application for a dwelling secured transaction. As such, this position requires compliance with the S.A.F.E. Mortgage Licensing Act of 2008 and all related regulations. Ongoing employment is contingent upon meeting all such requirements, including acceptable background investigation results. Individuals in a SAFE position also must meet the Loan Originator requirements under Regulation Z (LO) outlined in the job expectations below. We have an immediate opening for a Home Mortgage Consultant (HMC). This individual is responsible for producing high quality loans that meet Wells Fargo Home Mortgage guidelines by building relationships with realtors, builders, financial professionals, bank stores, past customers and other nontraditional sources, while providing excellent customer service. Strong sales and organizational skills are essential. Bi-lingual job seekers are encouraged to apply. Additional duties include: * Develop knowledge of company products, policies and procedures, and underwriting requirements * Understand real estate appraisals, title reports, and real estate transactions * Inform prospective and existing customers of WFHM programs, rates, policies, underwriting requirements, and loan procedures * Analyze detailed financial and credit data, matching customer needs with an appropriate loan program and level of risk * Receive customer applications, quote the rate and points, and complete follow-up activities with the registration lock-in * Develop and maintain a high degree of visibility for WFHM in the marketplace * Perform miscellaneous duties as needed and required Required Qualifications * 1+ year of sales experience in financial services, outside sales experience, or a combination of both Desired Qualifications * Basic Microsoft Office skills * Documented retail residential mortgage fundings over the past 12 months referred primarily from established, local, external sources * Excellent verbal, written, and interpersonal communication skills * Mortgage industry experience * Knowledge and understanding of sales prospecting and generating referrals * Bilingual speaking proficiency in Spanish/English * Customer service experience * A BS/BA degree or higher Job Expectations * This position requires SAFE registration at the time of employment. Wells Fargo will initiate the SAFE registration process immediately after your employment start date. The Nationwide Mortgage Licensing System (NMLS) web site ( ) provides the MU4R questions and registration required for employment in this position. * Individuals in Loan Originator (LO) positions must meet the Consumer Financial Protection Bureau qualification requirements and comply with related Wells Fargo policies. The LO qualification requirements include meeting applicable financial responsibility, character, general financial fitness and criminal background standards. A current credit report will be used to assess your financial responsibility and credit fitness, however, a credit score is not included as part of the evaluation. Successful candidates must also meet ongoing regulatory requirements including additional screening, if necessary. * This position requires compliance with all mortgage regulatory requirements and Wells Fargo's compliance policies related to these requirements including acceptable background check investigation results. Successful candidates must also meet ongoing regulatory requirements including additional screening and required reporting of certain incidents. * Ability to lift 20+ pounds * Reliable transportation * Ability to work nights, weekends, and/or holidays as needed or scheduled Salary Information The salary range displayed below is based on a Full-time 40 hour a week schedule. CA-Laguna Beach: Min: $24,900 Mid: $25,000 Disclaimer All offers for employment with Wells Fargo are contingent upon the candidate having successfully completed a criminal background check. Wells Fargo will consider qualified candidates with criminal histories in a manner consistent with the requirements of applicable local, state and Federal law, including Section 19 of the Federal Deposit Insurance Act. Relevant military experience is considered for veterans and transitioning service men and women. Wells Fargo is an Affirmative Action and Equal Opportunity Employer, Minority/Female/Disabled/Veteran/Gender Identity/Sexual Orientation. Wells Fargo Anaheim CA

Mortgage Underwriter III

Michigan Mutual