Job Location: Queens, NY
Company Name: Sterling Bank and Trust, FSB
Date Posted: 2019-06-01
Valid Through: 2019-06-29
Employment Type: Full_Time
Job ID: 45382
Job Title: Residential Loan Underwriter
Department: Residential Lending
Reports To: Residential Underwriting Manager
Summary As a mortgage underwriter you will ensure loans meet all program and product specifications. Examine loan documentation for accuracy and completeness to determine credit worthiness. Works with the production staff to secure all required documentation. May be involved in several types of mortgage lending (Conventional, Portfolio, etc.). Requires daily contact with Originators, Processors and Underwriters.
Essential Duties and Responsibilities include the following.
Performs credit analysis, with or without the assistance of automated underwriting system to determine the borrower’s willingness and ability to repay. Evaluate risk to ensure appropriate loan decision is made.
Reviews and evaluates information on mortgage loan application to ensure accuracy and completeness, validate findings to determine that all information matches. instruct Mortgage Loan Originators and Loan Processors on any errors for future training purposes.
Review titles to verify the borrower has ownership on a refinance transaction and that the seller has ownership for purchase transaction. Verify chain of title meets investor guidelines. Verify no unpaid liens or judgements, and that all listed liens are bing paid off through the transaction.
Review appraisals to determine acceptability of collateral for portfolio loans and loans sold to investors.
Ensure that all fair lending compliance policies are followed.
Meet all departmental goals for productivity, quality, and turnaround time.
Communicate decision (approval, suspense, counter or denial) to appropriate individuals within 30 days of application.
Remain up to date and knowledgeable on all of Sterling Bank & Trust’s policies and procedures.
Create and maintain a courteous and professional relationship with co-workers.
Ability to work extended hours as business needs require.
Responds to quality control findings for loans underwritten.
Approves or rejects loan application, or requests additional information.
Records loan rejections, specifying investor and institution guidelines and basis for declining application, such as insufficient cash reserves.
Other duties may be assigned.
This job has no supervisory responsibilities.
To perform the job successfully, an individual should demonstrate the following competencies :
Analytical – Collects and researches data; Uses intuition and experience to complement data.
Problem Solving – Identifies and resolves problems in a timely manner; Gathers and analyzes information skillfully; Develops alternative solutions; Works well in group problem solving situations.
Oral Communication – Listens and gets clarification; Responds well to questions.
Organizational Support – Follows policies and procedures; Completes administrative tasks correctly and on time.
Strategic Thinking – Develops strategies to achieve organizational goals.
Judgement – Displays willingness to make decisions; Exhibits sound and accurate judgment; Supports and explains reasoning for decisions; Includes appropriate people in decision-making process; Makes timely decisions.
Quality – Demonstrates accuracy and thoroughness; Looks for ways to improve and promote quality; Applies feedback to improve performance; Monitors own work to ensure quality.
Quantity – Meets productivity standards; Completes work in timely manner; Strives to increase productivity
Keywords: Mortgage Loan Underwriter, Underwriter, Mortgage Loan Underwriter I, Credit Underwriter, Mortgage Underwriter