Mortgage Loan Underwriter
(remote working/Montgomery County, MD)
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:
The ideal candidate will:
- 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.
Qualified candidates will have the following:
- 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.
- 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
- High School Diploma or equivalent required.
- Working knowledge of MS Office applications including but not limited to Outlook, Word, Excel and other applications.