Remote
Nations Lending Corporation

Underwriter

  • Remote
  • Full Time
  • REQ808

Nations Lending Corporation™ is a Cleveland, Ohio-based national direct mortgage lender and servicer, licensed in 47 states plus the District of Columbia. With 50+ branches in 20 states, our company and culture continue to grow. We empower our employees to pursue their career goals by supporting their individual and creative ideas, and our mission is to treat every customer like a person, not a number. We want you to Join the Nation!

The qualified candidate will apply necessary conditions to ensure that borrowers meet program specifications by drawing upon thorough knowledge of residential mortgage underwriting guidelines. They will be responsible for the analysis of submitted files for repayment capacity, capital, character, collateral, and property condition while adhering to Nations Lending Corp credit policies, agency guidelines, and investor overlays. In addition, they will communicate decisions to appropriate individuals within Nations Lending Corp., uphold fair lending practices, meet daily and monthly targets for productivity, and ensure the highest quality and level of customer satisfaction.

Essential Functions:

  • Evaluate loan applications for risks and various criteria such as investor requirements, accuracy, consistency and completeness.
  • Review new loan files to ensure loans meet investor and program criteria. Minimum standard of 60 loans per month and a turn time of 24 hours required.
  • Review transmittal & 1003 reports to check for accuracy and completeness. Compare to findings to verify that all information matches.
  • Review credit report and compare to liabilities on 1003. Verify the investor guidelines for outstanding derogatory items and requirement payment or satisfaction if needed. Request updated mortgage history if needed.
  • Calculate income using documentation required per investor, questioning any large changes in income.
  • Review asset statements to compare to required assets. Require documentation and source for any recent large deposit.
  • Review title to verify the borrower has ownership on a refinance transaction and that the seller has ownership for purchase transaction. Check to ensure chain of title meets agency requirements.
  • Verify there are no unpaid liens or judgements and that all mortgage liens are being paid off through the transaction. Compare tax figures to 1003.
  • Review appraisal to ensure the value is supported and that the appraiser has provided complete, accurate appraisal. Order value review on loans considered high risk.
  • Review file “Calculate net tangible benefit” for those states that require this test.
  • Verify that the rate lock matches the underwriting file with the correct program, LTV, credit score and pre-payment penalty.
  • Review final conditions turned in for Underwriting Final Approval within 24 hours.
  • Review a minimum number of files per day of 6-8, to include new submissions, re-submissions & final conditions.
  • Maintain current and fluid knowledge of investor and agency guidelines.
  • Approve loan with proper documentation or recommend further action.
  • Communicate effectively and engage proactively with loan originators, processors, branch managers, funders and post-closers in regard to loan decisions, assignment of loan conditions, investor guidelines/documentation requirements and possible loan scenarios.
  • Apply knowledge of underwriting and pre-underwriting to best serve loan applicant and investor needs.

Qualifications and Education Requirements:

  • Bachelor’s Degree or equivalent combination of education and underwriting experience.
  • 5+ years of recent Mortgage Underwriting Experience (FHA, VA and Conventional) with strong agency guideline knowledge.
  • FHA DE and VA SAR certifications are required; experience with USDA is a plus.
  • Strong working knowledge of ATR/QM Requirements.
  • Encompass LOS experience is a plus.

Preferred Skills:

  • Ability to work in a fast paced, fluid environment and be held to minimum production standards
  • High integrity and outstanding work ethic required
  • Strong computer skills; proficient in Microsoft Word, Excel and Outlook, DU / LP AUS systems
  • Must have proficient written and verbal communication skills
  • Knowledge of compliance and disclosure requirements
  • Knowledge of closing, post-closing & quality control responsibilities