Mortgage Underwriter

Mortgage Underwriter

Watford Role Summary:The mortgage underwriter reviews loan applications, financial documents, and risk factors to make informed lending decisions, ensuring compliance with company policies, regulatory requirements, and industry standards.Key Responsibilities1. Loan Assessment:• Evaluate loan applications and accompanying documents (e.g., credit reports, income statements, tax returns).• Determine the borrower’s creditworthiness, risk level, and ability to repay.2. Compliance and Risk Analysis:• Ensure loans comply with federal and state regulations, as well as lender guidelines (FHA, VA, USDA, or conventional loans).• Assess risks associated with loan approval and identify potential red flags.3. Decision Making:• Approve, decline, or request additional information/documentation.• Provide clear justifications for loan decisions and document findings.4. Communication:• Collaborate with loan officers, processors, and other stakeholders to resolve application issues.• Communicate decisions and conditions clearly to the appropriate teams.5. Documentation and Reporting:• Maintain accurate records of underwriting decisions.• Prepare detailed loan summaries and risk assessments for management review.6. Staying Updated:• Stay informed of updates to underwriting guidelines, compliance regulations, and market trends.Key Skills & Qualifications• Education: Bachelor’s degree in Finance, Accounting, Business, or a related field (or equivalent experience).• Experience:• Previous experience in mortgage underwriting (2-5+ years preferred).• Familiarity with FHA, VA, USDA, and conventional loan guidelines.• Technical Skills:• Proficiency with Loan Origination Systems (LOS) and Automated Underwriting Systems (AUS), such as DU/LP.• Advanced skills in Microsoft Office (Excel, Word) and financial analysis tools.• Analytical Skills: Ability to assess risk and make sound financial decisions.• Detail-Oriented: Strong attention to accuracy and compliance.• Communication: Excellent verbal and written communication skills to explain decisions.• Certifications (optional but preferred):• Certified Residential Underwriter (CRU)• Direct Endorsement (DE) Certification for FHA loansKey Performance Indicators (KPIs)• Turnaround Time: Average time taken to underwrite a loan.• Approval Rate: Ratio of approved loans to reviewed applications.• Accuracy: Percentage of loans compliant with company and regulatory guidelines.• Customer Satisfaction: Feedback from loan officers and borrowers.Let me know if you’d like me to customize this further!