Junior Underwriter
Primary Function
The role of the Junior Underwriter is to review and analyze documentation provided on each loan including the 1003, credit report, income and asset documentation, purchase agreement, title report, etc. to make an informed lending decision in compliance with NewRez polices and guidelines.
Principal Duties
- Reviews and analyzes documentation provided on each loan including the 1003, credit report, income and asset documentation, purchase agreement, title report, etc. to make an informed lending decision in compliance with NewRez polices and guidelines.
- Calculates borrower’s income and debt-to-income ratios based on acceptable NewRez and agency practices
- Reviews conditions submitted on loans from Account Managers or Processors and signs off the condition when appropriate
- Documents lending decisions and completes required data entry into the LOS that include the accurate completion of the 1008 as well as adding and/or creating applicable conditions of the loan approval
- Works closely with Operations and/or Sales partners to answer loan specific underwriting questions, to discuss specific conditions or documentation requested and to resolve problems
- Run, reads and interprets Automated Underwriting Decision results (DU/LP)
- Adheres to underwriting guidelines to fulfill agency requirements
- Completes Underwriting review and final sign off of loans
- Displays excellent verbal, written and interpersonal communication skills
- Helps to expedite final approval of the file
- Maintains and cultivates an effective working relationship with internal and external customers
- Responds to all inquiries in a timely manner as established by company SLA’s
- Embraces company culture
- Must be able to adjust work and thought process to accommodate changes in the lending environment
- Consistently meets or exceeds established minimum productivity levels as determined and required by management for condition management
- Act as a role model of the company’s values, acting in an ethical and professional manner always
- Assists Underwriting Department with any additional tasks necessary
Education and Experience Requirements
- Bachelors Degree preferred
- Ability to analyze and interpret credit reports, income documentation, asset statements, residential appraisal reports and other mortgage loan documentation
- Working knowledge of the mortgage process preferred
Knowledge, Skill, and Ability Requirements
- Strong organizational and time management skills
- Excellent verbal, written and interpersonal communication skills
- Strong attention to detail and accuracy
- Ability to work both independently and in a team environment
- Ability to multi-task and work in a deadline driven environment
- Ability to identify and resolve problems in a timely manner
- Effective decision-making and problem-solving skills
- Excellent customer service and customer focus
- Proficient in Microsoft Office (Word and Excel) programs
- Provide feedback to management on potential risk areas