US-Residential Mortgage Live Underwriter / Pre-Purchase Reviewer

Job Description :

Role : Live Underwriter / Pre-Purchase Reviewer

Exp : 2+yrs

Location : Chenna(Work From Office)

Two way cab will be provided

Notice Period : Immediate to 2 Months

Job Overview : (Pre-Purchase)JD

The role of the Pre-Purchase Reviewer is to review the closed loan file documents and ensure that the loan closed

according to the approval, meets all federal, state, local and investor requirements and that the data in the LOS matches

the data in the mortgage loan documents. The position requires a thorough understanding and familiarity of both credit,

income, assets and closing documents to complete the applicable review questions in the questionnaire and provide

results to Client

Job Roles and Responsibilities :

 Review and analyze the mortgage loan application to ensure eligibility, accuracy, completeness, and

compliance with internal and regulatory guidelines to minimize risk factors.

 Knowledge of Loan Origination Cycle- Loan Application, Origination, Due Diligence, Pre-Purchase

Review or Underwriting process

 Knowledge of different types of mortgages and its functioning and ability to review various

documents involved in Closing, Funding and Underwriting

 Review the loan documents using the Pre-Purchase Review checklist for completeness and

accuracy

 Strong knowledge of ATR / QM, RESPA, TRID and mortgage compliance regulations

 Review of Conventional, FHA, VA & USDA loan types

 General knowledge of Fannie Mae, Freddie Mac, FHA and VA guidelines

 Add suspense conditions in a clear concise manner in LOS for any deficiencies noted as part of the

above review

 Strong Customer Service Skills, Detail Oriented with good analytical skills and the ability to make

decisions based on the situation.

Job Overview : (LIve Underwriter)JD

The Conventional Underwriter reviews, conditions and underwrites mortgage loans in accordance with established

policies and procedures and appropriate guidelines; examines all documentation for accuracy and completeness.

Job Roles and Responsibilities :  Review and analyse the mortgage loan application to ensure eligibility, accuracy, completeness, and

compliance with internal and regulatory guidelines to minimize risk factors.  Review all required loan data, reports, and inspections to insure the collateral is acceptable to investor

and the company.  Knowledge of Lending & Underwriting Guidelines | Credit & Income Analysis | Cash Flow Analysis | Risk

Assessment | Loan-to-Value Ratios | Debt-to-Income Ratios  Review Initial application - Verify loan, property, borrowers’ information with other available documents -

Verify borrower's monthly income and expenses - Verify other relevant sections.  Review all the documents related to borrower’s Credit, Capacity, Collateral and Capital.  Calculate asset required for closing and reserve purpose for the transaction (as per guideline)  Responsible for making independent decisions regarding acceptance and risk of loans according to

HUD, company, and investor guidelines.