Loan Underwriter

MD - Rockville

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Job Details:

  • Reviews residential first mortgage loan files delivered by correspondent lenders for completeness, accuracy and timeliness of delivery against existing commitments
  • The review process will verify that all underwriting conditions were satisfied, the loan was closed properly and in compliance with applicable regulations, and the critical loan features are as specified on the commitment and within acceptable tolerances
  • Issues a notice of deficiency for loan files, as applicable. Should this be warranted, follow-up with the correspondent lender until deficiencies are cleared and the loan can be authorized for purchase
  • Enters into the loan origination system (“LOS”) all information required to execute the loan purchase, and to properly board the loan into the servicing system.
  • This process may require either scanning loan documents into the LOS and/or entry of certain data fields 
     
Qualifications:
 
Loan Reviewer I
  • 2 to 4 years of experience in the same or similar industry position, such as processing and closing, is required
  • Experience in the areas of Underwriting and Quality Control is preferred
  • Familiarity with the work flow typical in a loan origination system
  • Demonstrated knowledge of applicable regulations and compliance requirements
  • Knowledge of generally accepted practices in the secondary mortgage market preferred
 
Loan Reviewer II
  • Minimum of 4 years of experience in the same or similar industry position, such as processing, underwriting, closing and quality control, or a combination of these areas. Emphasis on Underwriting or Quality Control
  • Experience with the work flow typical in a loan origination system
  • Demonstrated knowledge of applicable regulations, compliance requirements, and generally accepted practices in the secondary mortgage market
  • Demonstrated mentoring, coaching and leadership skills

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