Mortgage Underwriter

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NightOwl Consulting

WebsiteLinkedInAll Job Openings

51 - 200 employees

🤝 B2B

🎯 Recruiter

☁️ SaaS

B2B • Recruitment • SaaS

NightOwl Consulting is a global business service (GBS) provider that connects companies with skilled talent in the Philippines to optimize their business processes and dramatically reduce costs. Specializing in team-building for various roles such as pre-construction, AutoCAD drafting, insurance, bookkeeping, and administrative assistance, NightOwl Consulting provides customized offshoring solutions tailored to the specific needs of each client. Through its transparent, cost-effective pricing model, the company prides itself on high client satisfaction and employee retention rates while fostering a supportive and engaging work culture. NightOwl Consulting supports businesses by recruiting, training, and managing dedicated teams for various industry sectors, ensuring enhanced productivity at a significantly reduced cost.

📋 Description

• Evaluate mortgage loan applications to determine the applicant's creditworthiness, income stability, and ability to repay the loan. • Review financial documents such as pay stubs, tax returns, bank statements, and credit reports to assess the applicant's financial situation accurately. • Verify the accuracy and completeness of all information provided in the loan application. • Analyze the risk associated with each loan application based on factors such as credit history, debt-to-income ratio, employment stability, and property appraisal. • Identify potential risks and assess the likelihood of default, ensuring compliance with lending regulations and internal policies. • Ensure that all mortgage loan applications adhere to regulatory requirements, including those set by government agencies such as Fannie Mae, Freddie Mac, FHA, and VA. • Interpret and apply lending guidelines, policies, and procedures to make informed decisions on loan approvals or rejections. • Communicate effectively with loan officers, processors, and other stakeholders to gather additional information, clarify discrepancies, or request documentation necessary for underwriting. • Provide clear and timely updates to loan originators and applicants regarding the status of their loan applications and any additional requirements. • Make informed decisions on whether to approve, deny, or conditionally approve mortgage loan applications based on thorough analysis and risk assessment. • Document reasons for approval or denial decisions and ensure accuracy and consistency in underwriting decisions. • Conduct quality assurance reviews to ensure the accuracy and integrity of underwriting decisions and documentation. • Identify areas for process improvement and contribute to the development of best practices within the underwriting department.

🎯 Requirements

• Bachelor's degree in finance, accounting, economics, or a related field preferred. • 5+ years of previous experience in mortgage underwriting. • Strong understanding of mortgage lending regulations, guidelines, and compliance requirements. • Excellent analytical skills with the ability to evaluate complex financial information. • Attention to detail and accuracy in reviewing loan applications and documentation. • Effective communication skills, both verbal and written, with the ability to interact professionally with internal and external stakeholders. • Proficiency in using underwriting software and mortgage industry tools. • Ability to work efficiently in a fast-paced environment while managing multiple priorities and meeting deadlines. • Income calculations, for example W2, bonus, commission, OT, Schedule C, Schedule E, 1120, 1120S, 1065 • Comfortable with AUS findings • Income calculations for non-QM lenders: DSCR, Bank Statements, Asset Depletion, etc.

🏖️ Benefits

• Above market salary • HMO on Day 1 for principal and two dependents • Government-mandated benefits • Performance-based Incentives • Quarterly Company Events • 1,000 PHP De Minimis • Equipment and software provided