Plaza Home Mortgage, Inc., a national wholesale and correspondent mortgage company has a full-time opportunity for a remote Senior Underwriter with our Midwest Wholesale Division!
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.
Our ideal candidate should be hardworking and maintain high levels of professionalism and ethics.
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.
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. Fraud-Guard and Early Check.
- Run, review, and interpret DU/LP/GUS/Total-Score-Card, 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.