18 Mar
2023
Part-Time Mortgage Underwriter – Al Quwaiiyah
Job Description
You will be the financial expert who assesses the Company’s financial risk on a potential borrower and is ultimately responsible for approving or denying mortgage loans as a Mortgage Underwriter. Our Underwriters’ primary responsibility is to assist in the underwriting process so that business goods can continue to be produced in accordance with all applicable laws and company policies.
Job Title : Mortgage Underwriter
Location : Al Quwaiiyah, Riyadh, Saudi Arabia
Salary : $ 29.85 per hour.
Company : First Citizens Bank
Job Type : Part-Time
Qualifications:
- Examines and analyses information on mortgage loan papers to determine whether the buyer, property, and loan conditions meet Credit Union and government criteria.
- Maintain a complete awareness of loan product requirements and industry laws, including assisting in the prevention, detection, and settlement of mortgage fraud.
- Determine the entire risk in the loan application and efficiently underwrite the deal using lending rules and processes.
- Manages the application process for mortgage loans. Completes a full risk analysis of mortgage loan applications, including legal document evaluation, income analysis (including self-employment and tax return analysis), and asset analysis, among other things. Determine if the application complies with the credit union portfolio or secondary market criteria, and then approve or deny the application depending on the results. Alternative approval criteria are suggested if relevant.
- 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.
- Mortgage Originators should be informed of underwriting decisions as quickly as feasible by analyzing credit, incomes, and assets on a loan per loan basis.
- Improve the bank’s reputation by providing exceptional service to all of its clients, both on the inside and outside of the bank.
- While maintaining and administering the Bank’s appraisal site, communicate with appraisers about errors, corrections, and extra information.
- Responsible for remaining current on all secondary market standards, with a specific focus on the investors established with the credit union, such as FNMA, FHLMC, and FHLB. Responsible for conveying changes to these rules in a timely and effective way.
- Based on established underwriting criteria, Bank policies, methods, skills, and experience, demonstrate the capacity to form independent judgements regarding applicants’ creditworthiness.
Skills:
- Mortgage underwriting experience of 1-3 years is preferred, or a combination of education and experience that is comparable.
- Microsoft Excel and Word Processing, as well as CUDL 360 and Symitar, are necessary.
- Communication skills are important.
- Communication, analysis, auditing, research, and decision-making are all essential. Excellent verbal and written communication and problem-solving ability.
- Has a good understanding of conventional, FHA, VA, USDA, VHDA, and NC loan underwriting criteria.