Mortgage Underwriters (Wholesale)

Reviews loan applications documents and approves or denies loan based on assessment of degree of risk in compliance with OOMC policies and guidelines

Responsibilities:
• Reviews and analyzes credit reports, loan applications, income documentation, employment records, and court documents such as bankruptcy and divorce decrees and verifies information as needed to determine borrower’s ability to meet requirements of loan
• Analyzes property appraisals to determine value of OOMC collateral, completes Administrative Appraisal Checklist, and orders review appraisals if required
• Reviews mortgage note, title and public records to determine vesting
• Reviews conditions submitted on loans from Account Managers and signs off on conditions outside their authority
• Completes all underwriting worksheets and calculations and reviews date integrity sheets to determine risk and benefit of funding loan
• Determines correct program for best grade and interest rate for borrower
• Issues approvals within lending authority and determines correct program for best grade and interest rate for borrow
• Issues loan suspensions pending receipt of additional documentation and denials of loans not complying with OOMC underwriting criteria, reviewing Home Mortgage Disclosure Act (HMDA) data for accuracy for those loans as well as those approved but not accepted or withdrawn
• Refers loans over credit limit to Underwriter Team Lead or Regional Underwriter for approval
• Completes preliminary approval form listing prior-to-documentation and stipulates funding conditions
• Works closely with Account Managers, Brokers, Closing Agents, Account Executives, Underwriting Team Lead to answer underwriting questions for specific loans, to discuss specific conditions or documentation requested, and resolve problems
• Maintains activity and correspondence logs, tracks underwritten loans, and produces month-end production report and enters all underwriting information into loan processing system (LPS)
• Performs other duties and special projects as required
REQUIREMENTS
• High School Diploma or GED
• Minimum of one (1) year experience in non-prime underwriting of consumer or residential loans
• General knowledge of wholesale residential lending operations
• Intermediate level of proficiency of MS Office
• Strong organizational skills and detail orientation
• Ability to communicate and interact effectively with all levels of Associates and management, as well as with the public and outside vendors
• Ability to maintain strict confidentiality and discretion
• Ability to organize and prioritize own work schedule on a short-term basis
• Ability to add, subtract, multiply, divide and to record, balance, and check results for accuracy
• Ability to perform multiple tasks and meet critical deadlines while maintaining accuracy and quality

Option One Mortgage is proud to be a Equal Opportunity Employer