Located in Waukesha, WI
The Underwriter underwrites residential loans ensuring compliance with appropriate company, secondary market Investor standards and all applicable laws. The Underwriter will be responsible for examining loan documentation for accuracy and completeness; is involved in one or several types of mortgage lending including but not limited to conventional program loans. Must be able to underwrite wholesale and retail loans within the company and industry guidelines. The Underwriter will also be working with Loan Originators, Branch Managers and Processors to secure all required documents.
Essential Duties & Responsibilities
- Underwrites loan program loans to verify for completeness, accuracy, and compliance.
- Develops and maintains an up to date and sound knowledge of multiple loan product guidelines offered by the company, DU/LP guidelines, and risk assessment tools used to decision mortgage loans
- Revises loans to new terms, identifies additional conditions as needed to insure a viable credit decision
- Reviews and evaluates borrower(s) profile including but not limited to all income documentation, tax returns, credit reports, preliminary report, judgments, bankruptcy documents and appraisals
- Analyzes and calculates income documentation such as personal and business income statements and ensures all necessary documentation is requested to support final loan decisions
- Exercises good judgment, conducts reasonableness tests and issues quality decisions
- Determines accuracy and completeness of files; ensures processes are consistent
- Demonstrates proficiency in automated underwriting systems (DU, LP)
- Maintains a sound knowledge of secondary market activity, practices, and business/industry practices as they impact underwriting quality and origination activity
- Maintains pre- established service level standard of decisions within the time frame set by the company
- Communicates regularly with sales team, processors and management
This position has no supervisory responsibilities.
- Ability to speak, read and write in the English language
- Articulate speaker with good interpersonal skills
- Problem-solving – identifies and resolves challenges in a timely manner by gathering and analyzing information skillfully. Develops alternative solutions using facts and reasoning in presenting business case for pursuing appropriate course of action.
- Communication – speaks clearly and persuasively in all types of situations. Listens and seeks clarification as necessary in order to understand and fulfill business objectives. Able to read and interpret complex information and regulatory requirements. Must be able to build effective intra-corporate relationships and collaborations, and liaison with various business departments.
- Business acumen – understands business implications and decisions, displaying appropriate balance between revenue growth and compliance with existing laws and regulations. Demonstrates working knowledge of regulated financial industry.
- Ethics – Keeps commitments and inspires trust by others. Understands and appreciates the value of integrity in self and others. Upholds organizational values. Maintains strict confidentiality of business information and processes.
- Judgment – exhibits sound and accurate judgment. Supports and explains rationale for decisions. Includes appropriate people in decision-making.
- Planning and Organizing – prioritizes and plans work activities. Uses time efficiently. Sets goals and objectives.
- Professionalism – approaches others in a tactful, respectful manner. Reacts well under pressure.
- Adaptability – adapts quickly to changes in work priorities and manages competing demands appropriately. Modifies approach or method to best fit the situation. Ability to deal with frequent changes, delays, or unexpected events.
- Initiative – undertakes self-development activities. Seeks increased responsibilities, while asking for assistance when needed.
- Innovation – assist department in developing and implementing creative ideas and methods to increase overall efficiency and departmental value.
- Teamwork – work with fellow team members inside and outside the department, treating everyone with dignity and respect, always willing to help others, with exceptional customer service.