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Senior Underwriter - Residential Jobs

New York, New York
<p>Major Financial Institution is currently seeking a Residential Underwriter to determine whether to approve or deny residential mortgage loan applications based on submitted information and in accordance with investor guidelines/standards.</p><p>Responsibilities:</p> Reviews and analyzes individual residential mortgage loan requests based on information provided on the loan application/file Reviews financial statements, credit reports, and applicable ratios (i.e. Debt ratios, loan-to-value) Validates income and employment information Validates the value of a borrower's collateral and assets Reviews submitted files, to analyze and validate, to qualify for Fannie Mae, Freddie Mac, FHA, VA, and USDA (Rural Development) guidelines as per automated findings Approves or denies individual residential mortgage loan requests Ensures loans meet all program and product specifications Underwrites loan specifications in such a way as to maximize organizational profit and minimize risk or loss (utilizing strong background and experience with Fannie Mae, Freddie Mac, FHA, VA, and USDA (Rural Development) loan guidelines and procedures) Ensures that the property specifications and loan terms meet financial institution requirements and government regulations Ensures compliance with industry standards, state and federal laws and disclosure requirements Ensures that documents are consistent and uphold to company and industry guidelines Documents the reasons for approval or denial of the loan and adds the documentation to the loan file Reviews and evaluates information on mortgage loan documents to determine if buyer, property and loan conditions meet established investor standards for all conventional, Fannie Mae/Freddie Mac and private investor and portfolio loans Communicates loan decisions to internal lenders, coordinators and/or processors Explains Fannie Mae/Freddie Mac, corporate, and investor guidelines to customers, loan processors, and sales associates Provides friendly, comprehensive, accurate, prompt and efficient service to both customers and non- customers Contacts customers and/or internal associates to gather information to make appropriate decisions and/or explain rationale behind credit decision Performs as a team member in allocating and coordinating work flow Maintains effective co-worker relationships Suggests ideas to improve operational and/or sales activities Maintains neat and clean appearance of department Prepares formal reports of final underwriting decision Assists with re-negotiations of loans based on lending guidelines Delivers excellent communication and customer service Contributes to the fulfillment of department and company objectives and goals Adheres to all department and company policies and procedures and follows applicable banking requirements.<p>Salary is up to 70K</p><p></p>
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