Invigorate Finance
Underwriter
Invigorate Finance, Chicago, Illinois, United States, 60290
Founded in early 2008, Fay Servicing is committed to providing innovative servicing solutions for both performing and non-performing mortgage loans. As a specialty mortgage servicer who sees the customer behind every loan, we understand that our customers aren’t loan numbers — they’re homeowners.
Before founding our company, we conducted an exhaustive analysis of the mortgage servicing industry and gained valuable insight into the problems facing mortgage servicers and their customers. With that insight, we set out to build a different kind of servicing company from the ground up.
Come join us on our journey to serve our customers and be the leader in our industry! We are currently looking for an
Underwriter
to join our team!
Reporting to the Underwriting Manager, this position is responsible for evaluating, analyzing, and decisioning the acceptability of risk through detailed analysis of a borrower’s credit, financial profile, track record, and collateral characteristics. This role will ensure credit recommendations and property financing loan approvals conform to the established and defined underwriting guidelines and investor purchasing requirements. This position is a liaison between sales and operations and partners with mortgage originators, processors, and closers to qualify mortgage loans and clear closings.
Additionally, this role will partner with borrowers and stakeholders to identify financing solutions for residential investment projects. This position is responsible for maintaining thorough records of decisions and communications while providing clear explanations of underwriting actions to stakeholders.
What you will do for Constructive Loans:
Evaluate and analyze loan applications and financial documents to determine borrower creditworthinessAssess property values and conduct risk assessments in accordance with underwriting guidelinesEnsure all mortgages are investment quality acceptable for sale to the Company’s secondary market conduitsMake informed decisions on loan approvals, conditions or denials based on thorough analysisPartner with the mortgage originators and processors to decision mortgage applicationsPartner with the processors and closers to clear closing conditionsIdentify and describe compensating factors when communicating loan exception requests when warrantedProduce detailed Credit Memorandums addressed to the Loan Approval and Credit CommitteeEnsure department processes and procedures are followed while consistently maintaining the expected level of productionResolve various inquiries through clear and detailed explanationsServe as a liaison between sales and operations management teamMaintain accurate and detailed records of underwriting decisions and correspondenceStay updated on industry trends, market conditions and changes in regulatory requirementsDevelop domain knowledge of Fay’s business to include an understanding of organizational goals and objectivesMaintain broad influence through ongoing development of relationships across the organizationEnsure compliance with Fay’s policies, processes and practices. Successfully complete all department and company required trainingModel Fay’s Values, Operating Principles, ethical standards, professionalism and code of conductDemonstrate behaviors that align with Fay's Values and Operating PrinciplesPerform other duties and responsibilities as assignedWhat you will bring to Constructive Loans:
Bachelor’s degree in Business, Finance or related field (or equivalent combination of years of experience with High School diploma/GED)5+ years’ experience in mortgage loan underwriting2+ years’ experience in customer serviceExtensive knowledge of generally acceptable underwriting and lending practicesStrong skills in MS Word, Excel and PowerPointStrong interpersonal skills with the ability to develop and maintain effective relationships across the organizationCollaborative and consultative work style; high team-orientationOpen to change; agile; high learning agilityStrong problem-solving abilities coupled with sound judgmentAbility to analyze and interpret data to identify opportunities and propose solutionsStrong project management skillsStrong attention to detail; strong compliance orientation; high quality of work productAbility to effectively prioritize under tight deadlines in a fast-paced, dynamic environment; effective time managementSelf-directed; ability to proactively ask questions and surface issues/ concernsProfessional maturity, integrity, ability to maintain confidential data and informationStrong business acumen; strong fiscal and technical aptitude
Equity and Inclusion are embedded into our way of working at Fay. We believe that the best ideas come from having a team that is diverse in backgrounds, experiences, and perspectives. We strive to ensure each of our employees feels valued, respected and included and is presented with equal opportunities to be successful here at Fay. We are proud to be an equal-opportunity workplace. The Fay Group and affiliated companies participate in E-Verify. For more information go to www.dhs.gov/E-Verify. E-Verify is a registered trademark of the U.S. Department of Homeland Security.
Before founding our company, we conducted an exhaustive analysis of the mortgage servicing industry and gained valuable insight into the problems facing mortgage servicers and their customers. With that insight, we set out to build a different kind of servicing company from the ground up.
Come join us on our journey to serve our customers and be the leader in our industry! We are currently looking for an
Underwriter
to join our team!
Reporting to the Underwriting Manager, this position is responsible for evaluating, analyzing, and decisioning the acceptability of risk through detailed analysis of a borrower’s credit, financial profile, track record, and collateral characteristics. This role will ensure credit recommendations and property financing loan approvals conform to the established and defined underwriting guidelines and investor purchasing requirements. This position is a liaison between sales and operations and partners with mortgage originators, processors, and closers to qualify mortgage loans and clear closings.
Additionally, this role will partner with borrowers and stakeholders to identify financing solutions for residential investment projects. This position is responsible for maintaining thorough records of decisions and communications while providing clear explanations of underwriting actions to stakeholders.
What you will do for Constructive Loans:
Evaluate and analyze loan applications and financial documents to determine borrower creditworthinessAssess property values and conduct risk assessments in accordance with underwriting guidelinesEnsure all mortgages are investment quality acceptable for sale to the Company’s secondary market conduitsMake informed decisions on loan approvals, conditions or denials based on thorough analysisPartner with the mortgage originators and processors to decision mortgage applicationsPartner with the processors and closers to clear closing conditionsIdentify and describe compensating factors when communicating loan exception requests when warrantedProduce detailed Credit Memorandums addressed to the Loan Approval and Credit CommitteeEnsure department processes and procedures are followed while consistently maintaining the expected level of productionResolve various inquiries through clear and detailed explanationsServe as a liaison between sales and operations management teamMaintain accurate and detailed records of underwriting decisions and correspondenceStay updated on industry trends, market conditions and changes in regulatory requirementsDevelop domain knowledge of Fay’s business to include an understanding of organizational goals and objectivesMaintain broad influence through ongoing development of relationships across the organizationEnsure compliance with Fay’s policies, processes and practices. Successfully complete all department and company required trainingModel Fay’s Values, Operating Principles, ethical standards, professionalism and code of conductDemonstrate behaviors that align with Fay's Values and Operating PrinciplesPerform other duties and responsibilities as assignedWhat you will bring to Constructive Loans:
Bachelor’s degree in Business, Finance or related field (or equivalent combination of years of experience with High School diploma/GED)5+ years’ experience in mortgage loan underwriting2+ years’ experience in customer serviceExtensive knowledge of generally acceptable underwriting and lending practicesStrong skills in MS Word, Excel and PowerPointStrong interpersonal skills with the ability to develop and maintain effective relationships across the organizationCollaborative and consultative work style; high team-orientationOpen to change; agile; high learning agilityStrong problem-solving abilities coupled with sound judgmentAbility to analyze and interpret data to identify opportunities and propose solutionsStrong project management skillsStrong attention to detail; strong compliance orientation; high quality of work productAbility to effectively prioritize under tight deadlines in a fast-paced, dynamic environment; effective time managementSelf-directed; ability to proactively ask questions and surface issues/ concernsProfessional maturity, integrity, ability to maintain confidential data and informationStrong business acumen; strong fiscal and technical aptitude
Equity and Inclusion are embedded into our way of working at Fay. We believe that the best ideas come from having a team that is diverse in backgrounds, experiences, and perspectives. We strive to ensure each of our employees feels valued, respected and included and is presented with equal opportunities to be successful here at Fay. We are proud to be an equal-opportunity workplace. The Fay Group and affiliated companies participate in E-Verify. For more information go to www.dhs.gov/E-Verify. E-Verify is a registered trademark of the U.S. Department of Homeland Security.