Plaza Home Mortgage, Inc., a national wholesale and correspondent mortgage company has a fulltime remote opportunity for a Senior Government Underwriter for our Wholesale Division Branches!
Founded in 2000, Plaza Home Mortgage, Inc. is a privately owned, full-service national lender, offering Wholesale, Correspondent, Renovation and Reverse residential mortgages. Headquartered in San Diego, California, Plaza maintains a network of Operations Centers and employs mortgage associates nationwide. Plaza is dedicated to building quality, long-term relationships with its mortgage broker and correspondent clients by offering comprehensive programs and exceptional customer experience.
PRIMARY PURPOSE OF JOB AND CONTRIBUTION TO ORGANIZATION:
This position is responsible for analyzing and evaluating consumer home loan applications as well as the supporting documentation to assess Borrower’s creditworthiness.
Types of consumer loan applications include, but are not limited to Conventional, Jumbo, FHA, VA, and USDA residential first mortgages. Must be able to recommend approval or denial of credit applications, and provide written and verbal decision and documentation to support the lending decision.
Senior Underwriters will be assigned Lending Authority levels by Corporate Underwriting. Levels are III - V.
ESSENTIAL TASKS AND RESPONSIBILITIES:
Must comply with all BSA/AML requirements as well as any mandatory changes. The following job functions are not all-inclusive. The associate will be required to perform other job-related tasks/responsibilities requested by the manager. Job duties may change as required by needs of company. Must complete all required industry and compliance training as required by Plaza Home Mortgage.
- Perform mortgage credit analysis, with or without the assistance of an automated underwriting system to determine Borrower’s willingness and ability to repay the mortgage debt.
- Knowledge of FNMA and FMLMC documentation and general guidelines/standards. Experience with FHA, VA, and USDA is preferred, but not required.
- Validate loan application and supporting documentation and verify that the system of record reflects correct information. Update system of record when required.
- Review and validate: income, asset, credit, title, value, and fraud reports.
- Ensure all required property information is in system.
- Look over all loans to substantiate that they meet Plaza’s underwriting guidelines.
- Pull credit report as required.
- Confirm government required documents are complete and accurate.
- Review title information and purchase contract, if applicable.
- Run and review quality control tools –i.e. FraudGuard and Early Check.
- Run, review, and interpret DU/LP/GUS/TotalScoreCard, when applicable.
- Document system with all dates and information.
- Certify system data integrity.
- May underwrite one or all of the following loan types: Conventional, Jumbo, FHA
FHA, 2013k, VA, and USDA based on lending authority levels (underwritten loans must meet all quality standards established by Plaza, Fannie Mae, Freddie Mac, FHA, VA, and USDA).
- Maintain production standard goals as established by management.
- Ability to act as FHA, DE, and/or VA Automatic and SAR Underwriter, if not, should be pursuing these designations (based on lending authority level).
- Order and review MI based on loan program. Ensure that system of record matches MI certificate.
- Approve/deny loans and update the system accordingly with P.A.C.E comments.
- Re-underwrite loans when additional information has been received.
- May be asked to second sign loan decisions for lower level authority underwriters.
- May occasionally be required to provide training for and mentoring to Junior
Underwriters and newly hired Senior Underwriters.
- Answer and research general underwriting scenario and guideline questions via
email and phone.
- Complete all required underwriting worksheets and checklists - i.e. Income
Worksheet, QM/ATR checklist.
- Assist in resolving branch post-closing suspense issues.
- Must be able to evaluate and analyze complex income tax returns to establish qualifying income. Other duties as assigned.
- Working remote is a possibility, depending on experience.
- Ability to act as FHA, DE, and/or VA Automatic, and SAR Underwriter
- Minimum of three (3) years of recent Senior Underwriting experience in the mortgage
industry is a must
- High school diploma or equivalent required; College degree preferred
Experience with (AUS) automated underwriting system
- Working knowledge of loan program products and services, and policies essential
- Thorough grasp of state and federal regulations is required as well as a solid
understanding of: HMDA, Regulation Z, Regulation B; the FHLMC, FNMA, FHA rules and processes
- Knowledge of paperless file environment and image software repository
- Proficiency with computer systems including MS Office (Word, Excel, and Outlook) and
- Genuine commitment to customer service
- Solid organizational and problem-solving skills
- Proven aptitude to work in both a team and individual environment