19 Mar
2023
Full-Time Senior Mortgage Underwriter – Riyadh
Job Description
Mortgage Underwriters make lending choices and adhere to approved lending regulations and processes. Mortgage Underwriter I, which entails mastering underwriting conventional loans to agency requirements and portfolio loans to Bank guidelines, is the first step in this role’s development. To perform the functions of this position, all Mortgage Underwriters are multi-functional, customer-oriented persons who rely on instructions and pre-established procedures. They work directly under the Mortgage Support Manager’s supervision.
Job Title : Senior Mortgage Underwriter
Location : Riyadh, Riyadh, Saudi Arabia
Salary : $ 27.03 per hour.
Company : Simply Funding
Job Type : Full-Time
Qualifications:
- Determine the overall risk of the loan application and effectively underwrite the loan utilizing lending rules and processes.
- The examiner verifies that the buyer, property, and loan conditions meet all Credit Union and regulatory criteria.
- Maintains a backlog of mortgage loan applications. Completes a thorough risk analysis of mortgage loan applications, which involves evaluating legal documents, analyzing income (including self-employment and tax returns), and analyzing assets. Determine if the application meets the credit union’s portfolio or secondary market standards, and then approve or deny the application based on the findings. If necessary, other approval criteria are given.
- Responsible for staying up to date on all state, local, and federal regulations, as well as ensuring that all guidelines are followed, including the Ability to Repay (ATR), Qualified Mortgage (QM), Real Estate Settlement Procedures Act (RESPA), Truth in Lending (TILA), and other applicable mortgage lending rules.
- Demonstrate the ability to make independent conclusions about applicants’ creditworthiness based on established underwriting rules, Bank policies, processes, expertise, and experience.
- In charge of staying up to date on all secondary market requirements, with a special emphasis on the investors who have already formed relationships with the credit union, such as the FNMA, FHLMC, and FHLB. It is your responsibility to communicate changes to these regulations in an appropriate and timely manner.
- Communicate with appraisers on problems or corrections, as well as additional information, while administering and maintaining the Bank’s appraisal site.
- Keep up with loan product requirements and industry rules, as well as help with mortgage fraud prevention, detection, and resolution.
- Provide excellent customer service (internal and external) that fulfils each client’s individual needs and promotes bank loyalty.
- Credit, income, and assets should be evaluated on a loan-by-loan basis in order to accurately assess individual risk. Mortgage Originators should be informed of underwriting decisions as quickly as practicable.
Skills:
- Communication, analytic, auditing, investigation, and decision-making abilities are all essential. Both verbally and in writing, you have excellent communication and problem-solving skills.
- CUDL 360, Symitar, Microsoft Excel, and Microsoft Word Processing are all needed program.
- You should have 1-3 years of mortgage underwriting experience, or a similar combination of education and experience.
- Outstanding interpersonal, organizational, and communication abilities are required.
- Has a good understanding of conventional, FHA, VA, USDA, VHDA, and NC loan underwriting criteria.