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Mortgage Underwriter

Company: Softworld, Inc.
Location: Marlborough
Posted on: April 10, 2021

Job Description:

Mortgage UnderwriterChelmsford or Marlborough, MA - Remote for nowDirect hire

  • Support Mortgage Department to develop and maintain an optimized and efficient pre-fund and post-closing QA/QC plan.
  • Examine closed mortgage loan file documents to ascertain compliance with Fannie Mae, Freddie Mac, and Internal underwriting guidelines.
  • Review steps include assessment of credit and underwriting documentation, as well as examination of credit reports, income documentation, and appraisal verifications.
  • Calculation and evalutation of all income and credit worthy conditions.
  • Detailed review of disclosures for timing and accuracy with a heightened focus on TRID.
  • Track and report the results of testing, providing both technical and functional suggestions to enhance the member experience through the lending process and create efficiencies.
  • Assist with responses to examination violations and develop action plans specific to the company's operations and corporate structure.
  • Perform regulation specific project engagements related to mortgage and home equity loan originations including but not limited to: Equal Credit Opportunity Act (ECOA), Real Estate Settlement Procedures Act (RESPA), Regulation Z (Truth in Lending, Know Before You Owe), Regulation C (Home Mortgage Disclosure Act - HMDA), and other state and federal laws which may be applicable.
  • Collaborate with Mortgage Department Management and Compliance to revise and implement new processes based on regulatory requirements, statuatory requirements, or business best practices.
  • Provide detailed documentation for internal and external audit examinations.
  • Responsible for ensuring the communication and execution of secondary market requirements are met.
  • Create and coordinate executable plans of action for the roll out and communication (interdepartmental and organization wide) of existing and proposed mortgage lending regulatory procedure changes.
  • Maintain knowledge of secondary market guidelines, product & pricing changes, and policies and procedures to create a holistic approach to secondary review.
  • Remediate defects identified by third party vendor for post-funding audits.
  • Work closely with Mortgage Underwriting to identify areas of risk and weakness and design and implement process change and training.
  • Assist in the development and maintenance of department policy and procedure documents.
  • Complete all required Bank Secrecy Act related training annually and maintain an ongoing in-depth knowledge of BSA policies and regulatory requirements
  • Perform other job-related duties as assigned by Manager(s).
  • Other Duties: Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities, and activities may change at any time with or without notice.
  • Perform other job-related duties as assigned by Managers(s) Job Competencies:
    • Strong ability to detect possible misrepresentation and/or fraud.
    • Previous underwriting experience, and/or Quality Control review/audit experience of mortgage loans.
    • Working knowledge of investor guidelines such as FNMA, FHLMC, Jumbo, Home Equity, and Portfolio loans.
    • Ability to analyze risk as it relates to investment quality loans, critical thinking with short yet comprehensive write ups.
    • Extensive knowledge of DU, LPA and manually underwritten loans.
    • Ability to review audit documentation, perform analysis, validate, and document potential risk to determine course of appropriate corrective action and/or make recommendations of such action.
    • Ability to collaborate, innovate, and change. Education and Experience Requirements:
      • 5-7 years of Mortgage Underwriting or comparable experience in QA/QC Underwriting
      • BA/BS Degree Preferred (or equivalent work experience) Knowledge of State and Federal compliance regulationsKnowledge of Secondary Market guidelines THIRD PARTY AGENCIES, SUBCONTRACTORS, AND RECRUITERS NEED NOT APPLY. Applicants received from firms will not be considered. Subcontracting is not available for this position. - provided by Dice

Keywords: Softworld, Inc., Boston , Mortgage Underwriter, Other , Marlborough, Massachusetts

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