Jumbo Mortgage Underwriter - BL

Company Name:
Jumbo Mortgage Underwriter - BL
Position Type
Financial Services
Number of Positions
Start Date
$85 - $95K base + OT
Pleasanton, CA
United States
Travel Percent
Years Experience
Job Description
The Underwriter reviews documentation, including 1003, credit reports, income and assets, and property documentation in accordance to agency and the company's policies, procedures and guidelines. The Underwriter will make the final loan decision. They will review specific guidelines to ensure that each loan risk is properly managed on a loan-by-loan basis. Once the Underwriter determines a decision, he/she is responsible to communicate that decision to the Mortgage Advisor or Processor.
Underwrite submitted loan files to agency and investor guidelines
Delegated to the current High balance limit, may underwrite FHA, VA or USDA loans, if underwriter carries those credentials.
Reviews and analyzes appraisals for value
Reviews all property documentation (preliminary title report, sales contract, flood, insurance)
Analyzes credit, income, assets, LTV/CLTVs in accordance to the company's Policies, Procedures and Guidelines
Makes decisions on the credit worthiness of the borrower based on underwriting guidelines
Assess overall risk of each loan and issues underwriting decision within posted turn times
2nd review by manager or team lead of appraisal and mortgage insurance for any LTV over 90%
Underwrites self-employed borrowers
Stays current with all FHA/VA/USDA guidelines (if underwriting these products)
Assists with pipeline throughput
Determines when new hires can be released to underwrite without review
Must Haves
5 - 7+ years of current underwriting experience
Current, strong experience with JUMBO LOANS
FHA CHUMS with current FHA Underwriting experience a plus (preferred)
VA Automatic Authority with current VA underwriting experience a plus (preferred)
USDA with GUS AUS experience a plus (preferred)
Blitz docs and Data Trac experience a plus. (preferred)
Encompass 360 experience a plus (company is transitioning to this system)
Solid experience in underwriting multiple loan types
High School Diploma or GED
Extensive knowledge of JUMBO/FHA/VA/USDA programs, if underwriting these products
Excellent attention to detail
Excellent written and verbal communication skills
Excellent analytical skills
Extensive knowledge of conforming underwriting programs
Excellent credit risk and self-employed analysis skills
Strong Mathematical and computer skills (AUS systems a must, Blitz docs, Data Trac knowledge a plus). Encompass 360 a plus as the company is transitioning to this system.
Superior Internal/External customer service skills
Ability to multi-task and work in a fast pace environment
Ability to work independently, as well as part of a team
Effective and responsive telephone etiquette
Solid experience in underwriting multiple loan types

Don't Be Fooled

The fraudster will send a check to the victim who has accepted a job. The check can be for multiple reasons such as signing bonus, supplies, etc. The victim will be instructed to deposit the check and use the money for any of these reasons and then instructed to send the remaining funds to the fraudster. The check will bounce and the victim is left responsible.