Mortgage Underwriter

Summary: Underwrites residential loans ensuring compliance with appropriate company and secondary market investor standards. Responsible for examining loan documentation for accuracy and completeness while working with loan originator or production staff to secure all required documents. The Mortgage Underwriter manages all phases of the underwriting process using thorough knowledge of complex personal and business financial analysis, including expertise in tax return and balance sheet analysis.

Involved in conventional and jumbo loans. Often responds directly to loan originators, sales personnel, and investor audits. The Underwriter has the authority to withdraw and decline loans and makes decisions with due diligence in a prudent and timely manner.

Uses detailed knowledge of JUMBO/CONV guidelines to examine and analyze loan documentation for accuracy and completeness and spreads financial statements in preparation for detailed analysis to make decision regarding the borrower’s capacity to repay the loan. Uses financial statements, income calculator worksheets, tax returns and debt ratios to identify declining income and other concerns and uses credit expertise to determine reasons for the declining income.

In order to determine the overall acceptability of the loan, uses discretion to analyze other parts of the loan package including the appraisal, credit report, collateral, title policies, and inspections, ensuring compliance with agency guidelines, including any jurisdictional requirements. Relies on independent judgment to stay attuned to warning signs that may indicate irregularities and/or fraud.

Clearly communicates agency, corporate, and investor guidelines to customers, loan processors, and sales associates.

Has the ability to make credit recommendations with excellent problem-solving skills.

If the loan is declined or if the loan is approved with conditions, documents the analysis in detail and provides clear guidance for what is needed to clear the conditions at time of resubmission.

After analysis and independent decisions on at least two new files each workday, the underwriter then handles resubmissions and clearing of conditions on prior files underwritten. Initiates ongoing follow-up and communication on pending files and will touch an average of 8-10 loans per day, using judgment to prioritize and manage all loans through the process to completion.

Provides outstanding customer service and interacts with fellow employees in a manner that promotes teamwork and professionalism. Represents Florida Capital Bank as a respected business professional.

Performs other duties as assigned, including special projects.

• Bachelor’s degree from 4-year college or university in Finance/Business or other related area of study; or equivalent combination of education and work experience.
• Minimum 3 years experience underwriting.
• In-depth understanding of processing, underwriting, and closing procedures, and of underwriting systems and their interdependencies.
• Evaluate risk selection, review all potential loan risk factors and identification of potential fraud indicators
• Managing daily underwriting workflow in accordance with client’s deadlines and delivery timetables.
• Possesses in-depth knowledge of a variety of loan products and program guidelines.
• Strong analytic, interpersonal, organizational and communication skills.
• Deadline oriented with ability to manage pipeline in fast-paced environment.

• 5+ years of mortgage underwriting experience preferred.
• Experience underwriting Jumbo, Conventional, FHA, and VA

Ability to read, analyze, and interpret the most complex documents. Ability to respond effectively to the most sensitive inquiries or complaints. Ability to make effective and persuasive speeches and presentations.

Ability to apply advanced mathematical concepts such as exponents, logarithms, quadratic equations, and permutations. Ability to apply mathematical operations to such tasks as frequency distribution, determination of test reliability and validity, analysis of variance, correlation techniques,…