Direct Endorsement (DE) Underwriter presso None

                                                                                                                                                                                                                                                                                                               Salary Grade: 11

                                                                                                                                                                                                                                                                                                                             Exempt 

JOB TITLE: Direct Endorsement (DE) Underwriter

REPORT TO:  VP, Loan Operations Manager 

DEPARTMENT:  Loan Operations

Position Summary:  Reviews mortgage loan applications, primarily but not limited to FHA and CHFA, in accordance with the policies and procedures established by the Bank and Secondary Market investors and under the direction of the Loan Operations Manager. Makes approval recommendations on all loans in the pipeline, including in-house and outsourced.  Underwrites loans as necessary to maintain and manage underwriting pipeline.

Functions:  

• Manage the flow of residential mortgage applications, making sure they are continuously moving forward in the process.    
• Ensure applications are underwritten and closed according to investor and/or bank guidelines and all decisions are communicated quickly and accurately to ensure a satisfactory customer experience.
• Make approval/denial/counter recommendations on all loans.
• Ensure implementation of departmental policies and procedures.
• Manage parameter settings of the Loan Operating System ensuring compliance to all regulatory requirements of documentation and turn-around times including setting up new residential loan types when necessary.
• Maintain current knowledge of required documentation and delivery criteria for all Secondary Market Investors.
• Manage the flow of mortgage loan delivery and sales to the Secondary Market, ensuring fulfillment of contractual obligations with investors; execute Notes and follow up on loan and Note irregularities.
• Underwrite & research loans presented for purchase consideration.
• Gather requested documentation for examiners or auditors upon request, if possible, in electronic format.
• Participate in or manage other departmental activities as requested by management, including conversion from construction mortgage to convention mortgage, EOY and 1098 statements, Document imaging, Annual Submission forms for secondary market investors, etc.

Knowledge, Skills, Requirements:

• DE Certification and recent FHA underwriting experience preferred
• Solid knowledge and understanding of FHAVAUSDA, FNMA and FHLMC policies and guidelines
• Secondary market loan processing, underwriting and loan closing experience.
• Knowledge of Banking and Lending Regulations as they apply to Residential Lending.
• Strong attention to detail, organizational and managerial skills required.
• Strong computer skills, including Microsoft Office.
• Adherence to Banks Policies and Procedures including banking regulations.
• Bachelor’s degree in business/finance or parallel career experience.
• Experience with real estate lending and loan servicing functions.

Physical Demands and Condition Requirements:

• General office environment.

Equipment Used:

• General office equipment, i.e., calculator, photocopier, etc.
• Computer

ADA: The employer will make reasonable accommodations in compliance with the Americans with

Disabilities Act of 1990.