Envoy Mortgage
Senior Underwriter
Envoy Mortgage, Houston, Texas, United States, 77246
Location (s)Houston, TexasGeneral Summary
The Underwriter will underwrite and provide timely and accurate decisions on FHA, VA, USDA, Jumbo and conventional loans, requiring comprehensive knowledge of the loan process; with various types of mortgage documents; agency; investor requirements; as well as any internal overlays. The Underwriter will identify, analyze, and balance transactional, borrower, and property-related risks and offsets to arrive at a decision. The Underwriter must have strong organizational and accuracy skills to prioritize assignments. The Underwriter will be assigned an approved credit authority based on designations and will review loans within their credit authority.Duties and Responsibilities
Prioritize, receive & review loan file packages for accuracy and completeness, according to the guidelines established by the Envoy, Fannie Mae, Investors, and Federal/State Regulations within 48 hours of receipt or the current posted SLA for the applicable transactionReview all documentation submitted as part of the mortgage application process to validate completeness and accuracyAdvise origination staff on underwriting questions and loan salability, and work to achieve closing deadlinesExamine and analyze borrower employment information, credit strength, property characteristics, assets, liabilities, income and debt and other information pertinent to the credit decision, on each mortgage applicationEvaluate and review appraisal reports and collateral issues related to the subject property to determine property meets required guidelinesUpload and file applicable documents into Imaging systemOrder mortgage insurance; all required fraud guard toolsRecalculate & re-verify supporting documentation and complete audit checklists before submitting for UW 2nd level review, as applicableAdvise if any underwriting problems and recommend corrective action to loan production personnel impacting Pre-Approval decisionCommunicate with appropriate parties, both verbally and in writing, regarding the loan decision and requirementsReview final conditions and approve or reject conditions as applicable, within prescribed authority, notifying branch personnel of statusReview loans for second signature when credit authority level allowsConsult with the Processing to ensure all underwriting conditions are met prior to issuing Clear to Close Approval or when declining a LoanUtilize Automated Underwriting Systems (AUS) such as Desktop Underwriter (DU) and Loan Prospector (LP) and Guaranteed Underwriting System (GUS) to assist in the rendering of the loan decisionRemain informed of financial institution operating policies and procedures and banking regulations, state and federalDemonstrate a clear understanding of the current RESPA laws and guidelinesResponsible for retaining and applying changes in loan underwriting requirementsMeet the required production standards as outlined by company policyAdditional duties as assignedQualifications
High School Diploma or equivalent, required, with continuing education in mortgage banking and/or finance, a plus5+ years of mortgage banking experience, with at least 3 years Underwriting experience preferredWorking knowledge of VA, Conventional, FHA, USDA, Bond, Jumbo, 203k loans, complex tax returnsActive DE, LAPP, SAR and USDA designations as required in designated markets, preferredMust have excellent customer service skills, able to work in a team environmentProficiency with Microsoft Office, including Word, Excel, and Outlook are requiredProficiency with Loan Origination Systems (LOS) required, Encompass experience preferredProficiency with Desktop Underwriter and Loan Prospector and GUS preferredAnalytical with good attention to detailAble to make accurate and timely decisions using good judgment and able to work independentlyAbility to review documents and spot inconsistencies and errorsStrong math skills and the ability to accurately calculate income in accordance with standard industry practiceAbility to review appraisals, assess accurate and appropriate data, and determine collateral acceptabilityAbility to review guidelines, memos, manuals; absorb and comprehend information; incorporate changing guidelines into everyday workExcellent verbal and written communication skills requiredAbility to work within a fast-paced environment that often demands multiple tasks in a short time framePosition may work from home or at regional center locationsPhysical Requirements
The employee must occasionally lift and/or move up to 25 poundsSpecific vision abilities required by this job include close visionWhile performing the duties of this job, the employee is regularly required to sit, use hands to finger, handle, or feel; reach with hands and arms; and talk or hearThe employee is occasionally required to stand; walk; climb or balance and stoop, kneel, crouch or crawlJob Type: Non-ExemptCompensation:- Regular Pay: $35.00 - $45.00/hourBenefits: (Full-Time)- Health Insurance- Paid Time Off (PTO)- Paid Holidays- 401(k)Regular Schedule:- Monday to FridayPost Date: Mar 4, 2024
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The Underwriter will underwrite and provide timely and accurate decisions on FHA, VA, USDA, Jumbo and conventional loans, requiring comprehensive knowledge of the loan process; with various types of mortgage documents; agency; investor requirements; as well as any internal overlays. The Underwriter will identify, analyze, and balance transactional, borrower, and property-related risks and offsets to arrive at a decision. The Underwriter must have strong organizational and accuracy skills to prioritize assignments. The Underwriter will be assigned an approved credit authority based on designations and will review loans within their credit authority.Duties and Responsibilities
Prioritize, receive & review loan file packages for accuracy and completeness, according to the guidelines established by the Envoy, Fannie Mae, Investors, and Federal/State Regulations within 48 hours of receipt or the current posted SLA for the applicable transactionReview all documentation submitted as part of the mortgage application process to validate completeness and accuracyAdvise origination staff on underwriting questions and loan salability, and work to achieve closing deadlinesExamine and analyze borrower employment information, credit strength, property characteristics, assets, liabilities, income and debt and other information pertinent to the credit decision, on each mortgage applicationEvaluate and review appraisal reports and collateral issues related to the subject property to determine property meets required guidelinesUpload and file applicable documents into Imaging systemOrder mortgage insurance; all required fraud guard toolsRecalculate & re-verify supporting documentation and complete audit checklists before submitting for UW 2nd level review, as applicableAdvise if any underwriting problems and recommend corrective action to loan production personnel impacting Pre-Approval decisionCommunicate with appropriate parties, both verbally and in writing, regarding the loan decision and requirementsReview final conditions and approve or reject conditions as applicable, within prescribed authority, notifying branch personnel of statusReview loans for second signature when credit authority level allowsConsult with the Processing to ensure all underwriting conditions are met prior to issuing Clear to Close Approval or when declining a LoanUtilize Automated Underwriting Systems (AUS) such as Desktop Underwriter (DU) and Loan Prospector (LP) and Guaranteed Underwriting System (GUS) to assist in the rendering of the loan decisionRemain informed of financial institution operating policies and procedures and banking regulations, state and federalDemonstrate a clear understanding of the current RESPA laws and guidelinesResponsible for retaining and applying changes in loan underwriting requirementsMeet the required production standards as outlined by company policyAdditional duties as assignedQualifications
High School Diploma or equivalent, required, with continuing education in mortgage banking and/or finance, a plus5+ years of mortgage banking experience, with at least 3 years Underwriting experience preferredWorking knowledge of VA, Conventional, FHA, USDA, Bond, Jumbo, 203k loans, complex tax returnsActive DE, LAPP, SAR and USDA designations as required in designated markets, preferredMust have excellent customer service skills, able to work in a team environmentProficiency with Microsoft Office, including Word, Excel, and Outlook are requiredProficiency with Loan Origination Systems (LOS) required, Encompass experience preferredProficiency with Desktop Underwriter and Loan Prospector and GUS preferredAnalytical with good attention to detailAble to make accurate and timely decisions using good judgment and able to work independentlyAbility to review documents and spot inconsistencies and errorsStrong math skills and the ability to accurately calculate income in accordance with standard industry practiceAbility to review appraisals, assess accurate and appropriate data, and determine collateral acceptabilityAbility to review guidelines, memos, manuals; absorb and comprehend information; incorporate changing guidelines into everyday workExcellent verbal and written communication skills requiredAbility to work within a fast-paced environment that often demands multiple tasks in a short time framePosition may work from home or at regional center locationsPhysical Requirements
The employee must occasionally lift and/or move up to 25 poundsSpecific vision abilities required by this job include close visionWhile performing the duties of this job, the employee is regularly required to sit, use hands to finger, handle, or feel; reach with hands and arms; and talk or hearThe employee is occasionally required to stand; walk; climb or balance and stoop, kneel, crouch or crawlJob Type: Non-ExemptCompensation:- Regular Pay: $35.00 - $45.00/hourBenefits: (Full-Time)- Health Insurance- Paid Time Off (PTO)- Paid Holidays- 401(k)Regular Schedule:- Monday to FridayPost Date: Mar 4, 2024
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