What are the responsibilities and job description for the Modifications Underwriting position at PennyMac?
Overview
Analyzes and evaluates documentation received from Correspondent customers to clear underwriting conditions identified by the Underwriter.
Job Description
- Follow established guidelines to determine if the documentation is sufficient to satisfy underwriting guidelines.
- The review requires analysis, assessment and conclusion regarding the serviceability and salability of the loans reviewed.
- Reviews should contemplate Fraud and all “red flags” addressed or escalated as appropriate.
- Input any required information into the underwriting module accurately and within established time frames.
- Revise underwriting conditions so as to communicate any stipulations to the client in a clear and concise fashion.
- Meet all established quantity objectives while maintain quality standards
- Perform other related duties as required and assigned
- Demonstrate behaviors which are aligned with the organization’s desired culture and values
Ideal Candidate will have the following:
- Solid knowledge of mortgage underwriting conditions and of basic automated underwriting systems.
- Extensive knowledge of conventional conforming & high balance, FHA, VA guidelines.
- Knowledge of mortgage laws and regulations.
- Knowledge of state and federal agency mortgage loan guidelines and regulations helpful.
- Organized and detail oriented.
- Ability to effectively prioritize workload and meet deadlines.
- Must maintain confidentiality of sensitive information.
- Strong communication skills, both verbal and written.
- Willing to speak up, voice opinions and offer constructive advice in a professional manner.
- Must be highly proficient in Excel and Word
- Must be a team player with strong attention to detail and able to work independently
- Proven track record at delivering timely and accurate information in a fast-paced environment
- Excellent critical thinking, problem solving, mathematical skills and sound judgment
- Financial Services and, if possible, mortgage industry experience preferred
- Strong business acumen and ability to interface with executive management
