26 May 2023
Full-Time Associate Underwriter – Diriyah
For all mortgage lending products, the Mortgage Underwriter is in charge of risk mitigation. All mortgage applications will be risk reviewed by the Mortgage Underwriter to ensure that they meet portfolio and/or secondary market criteria. On applications that do not meet portfolio and/or secondary market requirements, the Mortgage Underwriter will suggest approval or denial. The Mortgage Underwriter will engage with authorized parties in a professional manner in order to gather or clarify information needed to appropriately assess risk and make a loan decision.
Job Title : Associate Underwriter
Location : Diriyah, Riyadh, Saudi Arabia
Salary : $ 29.86 per hour.
Company : Bank of America
Job Type : Full-Time
- In charge of the mortgage loan application procedure. Completes a thorough risk analysis of mortgage loan applications, which includes evaluating legal documents, income analysis (including self-employment and tax return analysis), and asset analysis, among other things. Determine if the application meets the credit union portfolio or secondary market standards, and then approve or refuse it based on the findings. If applicable, alternative approval criteria are proposed.
- Determine the risk rating of the whole loan application and effectively underwrite the loan utilizing lending rules and processes.
- Improve the bank’s reputation by providing exceptional service to all of its clients, both on the inside and outside of the bank.
- Demonstrate the ability to make independent choices on creditworthiness of applicants based on current underwriting criteria, Bank rules, processes, knowledge, and experience.
- Acquire a full grasp of loan product criteria and industry laws, including assistance in preventing and discovering mortgage fraud
- As you operate and update the Bank’s appraisal site, interact with appraisers about issues, corrections, and more information.
- To ensure compliance with all state, municipal, and federal standards, including but not limited to the Truth in Lending Act (TILA), the Real Estate Settlement Procedures Act (RESPA), and the Ability to Repay (ATR) and Qualified Mortgage (QM), as well as any other relevant mortgage lending rules.
- Examines and analyses information on mortgage loan papers to determine whether the buyer, property, and loan conditions meet Credit Union and government criteria.
- Analyze credit, income, and assets on a loan-by-loan basis to accurately assess individual risk, and give underwriting recommendations to Mortgage Originators as soon as possible.
- Responsible for remaining current on all secondary market standards, with a particular focus on the investors established up with the credit union, such as FNMA, FHLMC, and FHLB. Responsible for properly and timely conveying changes to these rules.
- Excellent interpersonal, organizational, and communication skills are required.
- Its desirable if you have 1-3 years of mortgage underwriting experience, or if you have a similar mix of education and experience.
- Communication, analysis, auditing, research, and decision-making are all essential. Excellent verbal and written communication and problem-solving ability.
- CUDL 360 and Symitar, as well as Microsoft Excel and Word Processing, are required.
- Underwriting standards for conventional, FHA, VA, USDA, VHDA, and NC must be well-understood.