Mortgage Underwriter

Employment Type

: Full-Time


: Miscellaneous

Nations Lending Corporation™ is a Cleveland, Ohio-based national direct mortgage lender and servicer, licensed in 47 states plus the District of Columbia. With 50+ branches in 20 states, our company and culture continue to grow. We empower our employees to pursue their career goals by supporting their individual and creative ideas, and our mission is to treat every customer like a person, not a number. We want you to Join the Nation!

The qualified candidate will apply necessary conditions to ensure that borrowers meet program specifications by drawing upon thorough knowledge of residential mortgage underwriting guidelines. They will be responsible for the analysis of submitted files for repayment capacity, capital, character, collateral, and property condition while adhering to Nations Lending Corp credit policies, agency guidelines, and investor overlays. In addition, they will communicate decisions to appropriate individuals within Nations Lending Corp., uphold fair lending practices, meet daily and monthly targets for productivity, and ensure the highest quality and level of customer satisfaction.

***This position will be based in Tarrytown, NY****

Essential Functions:

  • Evaluateloan applications for risks and various criteria such as investor requirements, accuracy, consistency and completeness.
  • Review new loan files to ensure loans meetinvestor and program criteria. Minimum standard of 60 loans per month and a turn time of 24 hours required.
  • Review transmittal & 1003reportstocheck for accuracyand completeness.Compare to findings to verify that all information matches.
  • Review credit report and compare to liabilities on 1003. Verify the investor guidelines for outstanding derogatory items and requirement payment or satisfaction if needed. Request updated mortgage history if needed.
  • Calculate income using documentation required per investor, questioning any large changes in income.
  • Review assetstatements to compare to required assets. Require documentation and source for any recent large deposit.
  • Review title to verifytheborrower has ownership on a refinance transaction and that the seller has ownership for purchase transaction.Check to ensurechain of title meets agency requirements. 
  • Verify there are no unpaid liens or judgements and that all mortgage liensarebeing paid off through the transaction. Compare tax figures to 1003.
  • Review appraisal to ensure the value is supported and that the appraiser has provided complete,accurate appraisal. Order value review on loans considered high risk.
  • Review file “Calculate net tangible benefit”for those states that require this test.
  • Verify that the rate lock matches the underwriting file with the correct program, LTV, credit score and pre-payment penalty.
  • Review final conditions turned in for Underwriting Final Approval within 24 hours.
  • Review a minimum number of files per day of 6-8, to include new submissions, re-submissions & final conditions.
  • Maintain current and fluid knowledge of investor and agency guidelines.
  • Approveloan with proper documentation or recommend further action.
  • Communicateeffectively and engage proactively with loan originators, processors, branch managers, funders and post-closers in regardto loan decisions, assignment of loan conditions, investor guidelines/documentation requirements and possible loan scenarios.
  • Applyknowledge of underwriting and pre-underwriting to best serve loan applicant and investor needs.
  • Qualifications and Education Requirements:

  • Bachelor’s Degree or equivalent combination of education andunderwritingexperience.
  • Experience in NY State Underwriting specifications
  • 5+ years of recent Mortgage Underwriting Experience (FHA, VA and Conventional) with strong agency guideline knowledge.
  • FHA DE and VA SAR certifications are required; experience with USDA is a plus. 
  • Strong working knowledge of ATR/QM Requirements.
  • Encompass LOS experience is a plus.
  • Preferred Skills:

  • Ability to work in a fast paced, fluid environment and be held to minimum production standards 
  • High integrity and outstanding work ethic required 
  • Strong computer skills; proficient in Microsoft Word, Excel and Outlook, DU / LP AUS systems 
  • Must have proficient written and verbal communication skills 
  • Knowledge of compliance and disclosure requirements 
  • Knowledge of closing, post-closing & quality control responsibilities 
  • Nations Lending expressly prohibits any form of discrimination or unlawful harassment based on race, color, religion, gender, national origin, age, genetic information, disability, veteran status, sex (including marital status, family status, pregnancy, sexual orientation, gender identity or gender expression). Improper interference with the ability of Nations Lending employees to perform their expected job duties is absolutely not tolerated. Nations Lending expressly prohibits any form of retaliation against individuals who raise any concerns regarding equal employment opportunities with the Company.

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