Senior Mortgage Underwriter - Remote opportunity
Remote position New York, NY 10017
We currently have an opportunity for a Sr. Mortgage Underwriter with an international non-profit financial services company based in New York City. This position is fully remote. Within assigned real estate loan approval authority, responsible for first and second mortgage underwriting decisions in compliance with applicable Federal, State and industry rules, regulations and laws and secondary market guidelines. This includes communication with the Underwriting, Processing and Originations staff while upholding the company’ s commitment to member service.
Position responsibilities are:
- Underwrite all nonconforming loans to ensure compliance with the company’ s and secondary market guidelines and make alternative recommendations as applicable. Prepare and present recommendations, counter offers and exceptions to Loan Panel.
- Review loan applications for completeness and ensure interest rate, terms and amounts are correct in all applicable systems within SLA turn times. This includes ensuring members and Mortgage Representatives/Loan Originators have fully completed applications and all sections are completed; ensure minimum standard documentation is in the file.
- Review and analyze offering plans, amendments, questionnaires and financials for all cooperative and condominium buildings for compliance with the company’ s and secondary market guidelines.
- Review and analyze all pertinent information such as personal and business tax returns, bank statements, income documentation and assets to properly determine income to qualify the members for mortgage loans.
- Prepare loan packages for submission to PMI companies with Delegated Underwriting. Monitor files for compliance with any approval conditions.
- Monitor the active and suspended pipeline to ensure decisions are made within department guidelines. Ensure quality control/audit responses are completed timely.
- Provide training to Mortgage Representatives/Loan Officers, Processors and other Underwriters when necessary. Make recommendations to improve the mortgage process and actively participate in department meetings.
- Evaluate the entire credit package and collateral for residential mortgage loans and ultimately ensure an “ investment” quality loan product.
- Remain available to processors and correspondents for general guideline interpretations and questions on specific loan files.
Position requirements are:
- High School Diploma and a minimum of 7-10 years underwriting experience working with jumbo, nonconforming loans, FHA, VA, HELOCs, 2nd mortgages, correspondent and FNMA/FHMLC conforming loans (jumbo, nonconforming loans are a must)
- Demonstrate working knowledge of federal and state guidelines, rules and regulations, such as RESPA, TILA, HMDA, TRID, etc.
- Advanced ability to analyze complex tax returns and accurately calculate income for all S/E business types
- Extensive knowledge of co-op and condo analysis (project review)
- Proficiency with MS Office and applicable mortgage software