Senior Mortgage Underwriter

Position Overview

Now Hiring!: Senior Mortgage UnderwriterFull-time, 100% RemoteCorporate Headquarters Location: Miami Lakes, FL

Compensation: Based on Qualifications

Benefits & Perks: 

• 401k
• Health, Dental, and Vision Insurance
• Company-provided short-term disability insurance
• Employee Assistance Program
• Wellness Program

American Bancshares Mortgage is seeking a diligent and motivated Senior Mortgage Underwriter to join the team. The ideal candidate will possess excellent phone and communication skills and a value of providing superior customer service to internal and external customers. The Underwriter is responsible for validating income, asset and collateral documents including self-employed tax returns and Condominium documents. The Underwriter may be involved in one or several types of mortgage lending (conventional, government-backed, etc.); lending authority to include conventional, government, seconds, DPAs and jumbo loan programs.Job Duties:

• Evaluates loan applications for risks and various criteria such as agency and investor requirements, accuracy, consistency, and completion
• Review new loan files to ensure loan meets agency / investor and program criteria. Minimum standard of 40 loans per month and a turn time of 24 hours required
• Review transmittal & 1003 to make sure it is accurate and complete, 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 agency / investor, questioning any significant changes in income and employment history
• Review assets statements to compare to required assets. Require documentation and source for any recent large deposits or inconsistent activity
• Review title to verify our borrower has ownership on a refinance transaction and that the seller has ownership for purchase transaction. Check that chain of title meets agency / investor requirements.
• Verify there are no unpaid liens or judgments and that all mortgage liens being paid off through the transaction. Compare real estate tax figures to 1003. Review that there are no exceptions to title that may prevent first lien position or title transfers
• Review appraisal to ensure the value is supported and that the appraiser has provided a complete accurate appraisal. Order value review on loans considered high risk. Request second level review on high-risk appraisals and SSR scores higher than 2.9
• Review Fraud Audit report to ensure all alerts have been adequately addressed and clear and to obtain clear searches and compliance on all regulatory, state, and federal (Patriot Act) lists (OFAC, LPD, GSA, Social Security, others)
• 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 4 - 7, to include new submissions, conditions revie, appraisal review, denial review and final approval (clear for audit review)
• Maintain current and fluid knowledge of investor and agency guidelines
• Approves loan with proper documentation or recommends further action
• Communicates effectively and engages proactively with loan originators, processors, branch managers, funders and post-closers in regard to loan decisions, assignment of loan conditions, investor guidelines/documentation requirements and possible loan scenarios
• Applies knowledge of underwriting and pre-underwriting to best serve loan applicant and investor needs
• Performs other related duties as assigned

Minimum Qualifications:

• Bachelor's degree or equivalent combination of education and experience
• 5 years of retail residential recent Mortgage Underwriting Experience (FHA, VA, USDA and Conventional) with strong agency guideline knowledge
• DE, SAR (LAPP) certifications are required; experience with USDA is a plus
• Strong working knowledge of ATR/QM Requirements
• Encompass LOS experience
• Ability to work in a fast paced, fluid environment and be held to minimum production standards
• Strong computer skills; proficient in Microsoft Word, Excel and Outlook
• Knowledge of compliance and disclosure requirements
• Knowledge of closing, post-closing & quality control responsibilities
• Must be located in EST (preferred) or CST time zones

Who We Are: https://myabsm.com/ 

For more than 25 years, we have assisted our communities, empowered our partners, and expanded our company footprint across the nation. We are a full-service mortgage lender, created by industry experts who understand the ever-changing mortgage financing industry. Unlike a bank, we only focus on mortgage products. With years of combined experience our loan specialists are wise, patient, and eager to assist our clients. It is our unique company culture, expertly trained staff and years of industry experience that sets us apart from the rest. Having an intricate knowledge of our industry we take pride in the ability to offer our clients professional and ethical advice they seek, and most importantly the dedication to helping them find the best financing options. Servicing our community is driven by our core values of commitment, integrity, and transparency. Our in-depth knowledge is what enables us to efficiently adapt to industry change, while consistently providing our clients with a best-in-class customer service and a tailored mortgage experience.