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Mortgage Loan Underwriter

Rockville, MD
Mortgage Loan Underwriter (remote working/Montgomery County, MD)
 
Description
Cordia is searching for an experienced Mortgage Loan Underwriting for our client located in Montgomery County, MD.  Work will be entirely remote until COVID-19 protocols are lifted.  With interest rates remaining low and a high demand for new homes the need for mortgage loan underwriters is booming. 
 
As a Mortgage Loan Underwriter you will be responsible for underwriting first mortgage and home equity loans/lines of credit in accordance with corporate guidelines. You will respond to audits requests and performs quality control on mortgage files. To be a leader within the department and to help Management achieve department goals and objectives. You will also gain experience as a mortgage loan originator. 
 
The Mortgage Loan Underwriter will also:
  • Complete a thorough analysis of the loan file to determine applicant credit worthiness and collateral value. Review legal documentation as applicable.
  • Underwrite to current Regulatory/FHLMC/Aggregator/Lafayette Federal guidelines.
  • Evaluate the entire credit package and collateral for residential mortgage loans to ensures an investment quality loan product.
  • Order and obtain mortgage insurance.
  • Determine that valid liens in the proper recording position can be obtained by analyzing title examination and public record reports.
  • Maintain a working knowledge of secondary market underwriting guidelines, investor, and private mortgage insurance guidelines.
  • Document conditions, conversations, and observations within the mortgage system of record.
  • Resolve complex problems with-in delegated limits.
  • Respond to post closing review and audits in a timely fashion.
Requirements
The ideal candidate will:
  • Possess a working knowledge of FNMA/FHLMC and Mortgage Insurance guidelines.
  • Possess the ability to conduct a detailed review of a loan file, analyze an applicant's financial position, and evaluate the risk based on the loan profile under the terms requested
  • Demonstrate analytical decision-making ability with attention to detail.
  • Maintains confidentiality at all times.
 
Qualified candidates will have the following:
 
 Experience: 
  • Minimum of 3 years or more of equivalent experience in the area of underwriting conventional first mortgage loans and second mortgage loans.
  • 1-3 years’ experience within the primary market of the Mortgage Industry is preferred
  • A positive credit standing
Education: 
  • High School Diploma or equivalent required.  
  • Working knowledge of MS Office applications including but not limited to Outlook, Word, Excel and other applications.

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