Remote Mortgage Underwriter (applied 10/1/15)

Indecomm Global Services Los Angeles, CA 9/11/2015 John Fenlon

379 Thornall Street,

2nd Floor, Edison NJ 08837
Tel: +1-732-404-0081
Fax: +1-732.404.0151

Job Description
The underwriter will review regulatory compliance with disclosures, validate data used by an
automated underwriting system to decision loans, and perform a comprehensive review of the
appraisal report. The underwriter will determine if the loan meets underwriting guidelines, product
guidelines, investor requirements and eligibility requirements. The underwriter will update information
regarding the loan transaction in the loan origination system with the appropriate status and loan
conditions. In addition, the underwriter will review and clear conditions prior to closing.

Conventional Mortgage Underwriter Responsibilities

1. Perform a cursory review of the loan file for compliance with Federal disclosure requirements to
include the Net Tangible Benefits worksheet.

2. Validate the data used by the AUS to make a credit decision. This includes but is not limited to:
o Verify all loan term obligations were considered to qualify
o Determine income used to qualify the loan was calculated correctly
o Ensure assets used for the source of funds to close and for reserves are acceptable
and accurate
o Establish that documentation required by the AUS is in the file or becomes a condition
of the loan approval

3. Perform a comprehensive review of the appraisal report and all supporting documentation. This
includes but is not limited to:
 Verify the report was performed by a licensed/certified appraiser and meets client’s and
investor/agency requirements.
 Determine that the property meets investor guidelines.
 Ascertain that the appraiser has supported his/her opinion of market value.
 Establish that the appraisal report is complete and free of any inconsistencies and that the
property is sufficient.

 Evaluate the application, supporting credit, income and asset documentation, the appraisal
report and the contract of sale of sale to uncover inconsistencies and potential
misrepresentation in the loan file.

 Determine if the loan was submitted to underwriting in accordance with the program and terms
registered or locked with Client’s secondary marketing department. Resubmit the loan to
Client’s AUS, when validated data falls outside of AUS tolerance levels.

 Resubmit the loan to client’s AUS, when validated data falls outside of AUS tolerance levels.

 Identify loan conditions that must be cleared prior to closing and/or at closing.

 Enter/correct data in LOS. Data includes the status and recommended conditions for the
approval.
  Review and clear “prior to closing" conditions that have been identified as the underwriter’s
responsibility.

 Communicate as needed with Client’s staff and customers.

Job Requirements

Service level requirements (turn-times):

One Business day (24 hours)

 Perform initial review of loan

Upon receipt of assigned loan

 Subsequent loan review

Loan pended for additional information – upon receipt of all the required documentation
necessary to make a decision

One business day (24 hours)

 Review and clear prior-to-closing conditions

Upon receipt of the conditions

 Rush requests will be prioritized for review in 24 hours of less

Upon receipt of the rush request

Four (4) business hours

 Return email inquiries; pre-funding condition review/accuracy review

Upon receipt of an email

Requirements

 Must have a minimum of three years front line conventional underwriting experience
 Prefer a minimum of an Associate’s degree and highly recommend a Bachelor’s degree
 Proven ability to multitask and have outstanding customer service skills