Looking for a Super Star Senior Processor or an Underwriter for a Mortgage Broker shop located in Woodland Hills, California AKA “The Valley”. We are not a ‘throw the file at the lender and see if it sticks’ type of Broker. We need you to work the easy and the tough deals, get all that you need from the originator, and submit a full file to the Lender to get a clean approval with minimal conditions, or, just flat out deny the file before submission to the Lender if the loan does not work. You have to be able to structure the loans and know your stuff. Working well with others is a must because closing loans is a team effort! You must be able to multi-task, speak English and understand Mortgage Lingo. So, if this is you and you think you have what it takes, send us an email and we will set up a time to meet.
Side Note: Our dress code is Casual Fridays every day.
What is expected from you?
- Computer skills are a must and you have to know how to navigate websites as everything is online now – gone are the days of Transbox (if you have been in the business around the crash you know what I am talking about).
- The originator will structure the loan, then they will send it to you and you take it from there. Review the file in detail, send them a needs list, make sure the loan fits the program that they picked, and make suggestions if it does not. Send out disclosures, loan estimate, order appraisal, run AUS, order title, escrow etc.
- Submit completed loan files to underwriting.
- Keep track of timelines to make sure the loan can close when it’s supposed to – no one likes to hear from an angry Realtor and lose locks due to delays – speed is important.
- Communication is key – you need to keep everyone updated throughout the process.
- BTW we don’t ask you to contact the Clients – that special task is reserved for the originators.
- This is the tough part – to be a Super Star you need to have a number of years of experience under your belt, so for now let’s say 5 years minimum! That said, if you have been a Super Star Senior Processor less than that, but you have done a ton of volume, we will consider that.
- Know your FHA/VA/USDA, FNMA and FHLMC guidelines. Remember, you need to help structure the files and we are looking for clean approvals from the Lenders.
- Full understanding of TRID/MLD/QRM/HUMDA/RESPA/etc. goes without saying.
- We use Encompass, so experience in using Encompass LoS is a really big plus.
- Not going to list a bunch of other qualifications here – you should know what they are being a Super Star Senior Processor.
The Processor/Underwriter position for residential loans ensuring compliance with appropriate company, secondary market Investor standards, and all applicable laws. Examines loan documentation for accuracy and completeness. Process/Underwrites retail loans within the company and industry guidelines. Partners with Loan Originators, Branch Managers and Processors to secure all required documents.
Essential Job Functions:
- Follows prescribed guidelines, receives and reviews loan applications and associated documentation to insure thoroughness and accuracy
- Reworks loan to new terms or identifies additional conditions
- Verifies loan-to-value ratios, completeness of application information and credit reports
- Analyzes credit reports and associated documentation, analyzes appraisals, qualifies and classifies loans according to Company guidelines
- Maintains acceptable turnaround times for applications submitted for pre-approval and on funding packages
- Interacts with Quality Control, Compliance, and Funding for problem resolution, risk evaluation and compliance concerns
- Develops and maintains an up to date and sound knowledge of multiple loan product guidelines offered by the company, DU/LP guidelines, and risk assessment tools used to decision mortgage loans
- Reworks loans to new terms, identifies additional conditions as needed to insure a viable credit decision
- Reviews and evaluates borrower(s) profile including but not limited to all income documentation, tax returns, credit reports, preliminary report, judgments, bankruptcy documents and appraisals
- Analyzes and calculates income documentation such as personal and business income statements and ensures all necessary documentation is requested to support final loan decisions
- Exercises good judgment, conducts reasonableness tests and issues quality decisions
- Determines accuracy and completeness of files; ensures processes are consistent
- Demonstrates proficiency in automated underwriting systems
- Maintains a sound knowledge of secondary market activity, practices, and business/industry practices as they impact underwriting quality and origination activity
- Communicates regularly with loan originators, management, processors
Non-Essential Job Functions:
- Participates in and leads proactive team efforts to achieve departmental and company goals
- Adopts Fairway values in personal work behaviors, decision making, contributions and interpersonal interactions
- Contributes to a positive work environment by demonstrating cultural expectations and influencing others to reward performance and value “can do” people, accountability, diversity and inclusion, flexibility, continuous improvement, collaboration, creativity and fun
- Performs other duties as assigned
Required Knowledge and Skills:
- Extensive knowledge and understanding of Investor, FHA and Fannie Mae guidelines
- Extensive knowledge and understanding of processing and closing functions and a general understanding of the entire real estate lending process.
- Solid knowledge and understanding of FHA\VA\USDA, FNMA and FHLMC policies and guidelines
- Solid knowledge and understanding of TILA, RESPA and Predatory Lending
- Solid knowledge and understanding of mortgage loan processing, compliance, investor products and underwriting guidelines
- Solid knowledge and understanding of mortgage insurance (MI) guidelines
- Solid knowledge and understanding of various fraud tools
- Solid knowledge and understanding of customer service and intrapersonal best practices