Cenlar
Underwriter II
Cenlar, O Fallon, Missouri, United States, 63366
The Underwriter is responsible for performing a manual review of a complete assumption package, inclusive of all supporting documentation. The Underwriter will determine if the applicant qualifies to assume liability of the loan based on a credit review. This position will also be responsible for direct oversight of the Processors in the handling of the assumption file, escalating any concerns to management.
Responsibilities:
Provides oversight and acts as support to Processor in handling of file review and escalations through training and detailed advisementManually underwrites all loan types in accordance with investor guidelinesEnsures all origination guidelines, for federal/state regulations and investor requirements, are adhered to for underwriting review and decisionContacts business partners, third party vendors and investors with underwriting inquiries, as needed, to complete assumption processFiles submission to investor for approval, if applicableGuides processors and provides reasonable and concise analysis and justification for conditionsManually reviews of the assumption file; inclusive of bank statements, W2 and other required documentation to complete determinationEscalates any concerns identified in processing to ManagementEnsures compliance with timing of underwriting decisions, to be completed within 30 days of receipt of complete applicationMonitors investor guideline changes and leads the Processors through implementation while keeping management apprised of changesResponsible for the completion of OFAC checks on all approved files to ensure BSA complianceCompletes system updates on FHA Connection post-closingHandles audit inquiries, as neededCommunicates effectively with clients, vendors, and internal departments by phone and correspondenceAssists in other areas and with the performance of other functions of the departmentOther duties as assignedAppropriately assess risk when business decisions are made, include but not limited to compliance and operational risk. Demonstrate consideration for Cenlar's reputation as well as our clients, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues, as well as effectively supervise the activity of others and create accountability with those who fail to maintain these standards.Partial Release Responsibilities
Responsible for Customer, Client, Third Party Interaction, including phone, email, and paper communicationReviews and performs all functions related to Lien changes, by either: partial release of lien, Boundary Line Adjustments, release of subsurface rights as well as air rights, beneficial and burdensome easements, easements and conservation easements, requests to subdivide or re-plat current lien and Right-of-Ways in lieu of Condemnation ordersPerforms reviews and processing with comprehensive understanding of agency and other investor guidelines, all mortgage legal documents and compliance issuesMonitors changes in investor guidelines and updates policies and procedures accordinglyEnsures partial release documentation meets investor/client standardsPerforms underwriting review and issue approval/denial determinationWorks with appraisers, surveyors, title companies, investors, attorneys, and clients to manage and perform unique release requestsAssists with handling of escalated partial release requestsResponsible for other requests including lot line adjustments, condemnations, Condo conversions, easements, subdivisionsAssists management in creating policies and proceduresIdentifies opportunities for process improvement, and work with management to implementEnsures all Partial Release tasks are opened and closed within expected time framesFacilitates appropriate execution of the release agreementOther duties as assignedTrains new team members, as applicableQualifications:
High School Diploma or GED required3 to 5 years of prior underwriting experienceSuperior analytical skills and attention to detailAt least 5 years of experience with mortgage assumptions preferredStrong commitment to Excellent Customer ServiceExpert knowledge of Excel and spreadsheet proficiencyExcellent written and verbal communication skillsPartial Release Additional Requirements3 years of experience with Partial Releases and/or TitleDetail orientedAbility to problem solve with solutionsLoss Mitigation Underwriters and Repayment Team: (231/431)It is critical that you have an understanding of the following:
Requirements under the Real Estate Settlement Procedures Act (RESPA), specifically general servicing standards and loss mitigation practicesRequirements under the Equal Credit Opportunity Act (ECOA) and the Fair Housing Act (FHA), specifically the prohibition on discrimination in lending (and servicing), credit decisions and the appraisal requirementsRequirements under the Flood Disaster Protection Act (FDPA), specifically the mandatory flood insurance requirementsRequirements under the Fair Credit Reporting Act (FCRA), specifically the use of information.Requirements under the Gramm-Leach-Bliley Act (GLBA) and Regulation P, specifically customer privacy requirementsRequirements under the Service members Civil Relief Act (SCRA), specifically protections for Service membersEscrow AnalysisIt is critical that you have an understanding of the following:
Requirements under the Real Estate Settlement Procedures Act (RESPA) specifically:
subsequent escrow account analyses,annual escrow account statements,escrow account analysis and shortages, surpluses, and deficiencies requirements, andinitial escrow account statements.
Requirements under the Federal Rules of Bankruptcy Procedures specifically, proof of claims and escrow analyses.
Responsibilities:
Provides oversight and acts as support to Processor in handling of file review and escalations through training and detailed advisementManually underwrites all loan types in accordance with investor guidelinesEnsures all origination guidelines, for federal/state regulations and investor requirements, are adhered to for underwriting review and decisionContacts business partners, third party vendors and investors with underwriting inquiries, as needed, to complete assumption processFiles submission to investor for approval, if applicableGuides processors and provides reasonable and concise analysis and justification for conditionsManually reviews of the assumption file; inclusive of bank statements, W2 and other required documentation to complete determinationEscalates any concerns identified in processing to ManagementEnsures compliance with timing of underwriting decisions, to be completed within 30 days of receipt of complete applicationMonitors investor guideline changes and leads the Processors through implementation while keeping management apprised of changesResponsible for the completion of OFAC checks on all approved files to ensure BSA complianceCompletes system updates on FHA Connection post-closingHandles audit inquiries, as neededCommunicates effectively with clients, vendors, and internal departments by phone and correspondenceAssists in other areas and with the performance of other functions of the departmentOther duties as assignedAppropriately assess risk when business decisions are made, include but not limited to compliance and operational risk. Demonstrate consideration for Cenlar's reputation as well as our clients, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues, as well as effectively supervise the activity of others and create accountability with those who fail to maintain these standards.Partial Release Responsibilities
Responsible for Customer, Client, Third Party Interaction, including phone, email, and paper communicationReviews and performs all functions related to Lien changes, by either: partial release of lien, Boundary Line Adjustments, release of subsurface rights as well as air rights, beneficial and burdensome easements, easements and conservation easements, requests to subdivide or re-plat current lien and Right-of-Ways in lieu of Condemnation ordersPerforms reviews and processing with comprehensive understanding of agency and other investor guidelines, all mortgage legal documents and compliance issuesMonitors changes in investor guidelines and updates policies and procedures accordinglyEnsures partial release documentation meets investor/client standardsPerforms underwriting review and issue approval/denial determinationWorks with appraisers, surveyors, title companies, investors, attorneys, and clients to manage and perform unique release requestsAssists with handling of escalated partial release requestsResponsible for other requests including lot line adjustments, condemnations, Condo conversions, easements, subdivisionsAssists management in creating policies and proceduresIdentifies opportunities for process improvement, and work with management to implementEnsures all Partial Release tasks are opened and closed within expected time framesFacilitates appropriate execution of the release agreementOther duties as assignedTrains new team members, as applicableQualifications:
High School Diploma or GED required3 to 5 years of prior underwriting experienceSuperior analytical skills and attention to detailAt least 5 years of experience with mortgage assumptions preferredStrong commitment to Excellent Customer ServiceExpert knowledge of Excel and spreadsheet proficiencyExcellent written and verbal communication skillsPartial Release Additional Requirements3 years of experience with Partial Releases and/or TitleDetail orientedAbility to problem solve with solutionsLoss Mitigation Underwriters and Repayment Team: (231/431)It is critical that you have an understanding of the following:
Requirements under the Real Estate Settlement Procedures Act (RESPA), specifically general servicing standards and loss mitigation practicesRequirements under the Equal Credit Opportunity Act (ECOA) and the Fair Housing Act (FHA), specifically the prohibition on discrimination in lending (and servicing), credit decisions and the appraisal requirementsRequirements under the Flood Disaster Protection Act (FDPA), specifically the mandatory flood insurance requirementsRequirements under the Fair Credit Reporting Act (FCRA), specifically the use of information.Requirements under the Gramm-Leach-Bliley Act (GLBA) and Regulation P, specifically customer privacy requirementsRequirements under the Service members Civil Relief Act (SCRA), specifically protections for Service membersEscrow AnalysisIt is critical that you have an understanding of the following:
Requirements under the Real Estate Settlement Procedures Act (RESPA) specifically:
subsequent escrow account analyses,annual escrow account statements,escrow account analysis and shortages, surpluses, and deficiencies requirements, andinitial escrow account statements.
Requirements under the Federal Rules of Bankruptcy Procedures specifically, proof of claims and escrow analyses.