Underwriter III

Job Title: Underwriter III
Reports To: Underwriting Manager
Department: Direct Underwriting
Location: Irvine, CA | Diamond Bar, CA | Remote

Position Summary

Our customer-centric team is changing the home lending game with fierce loyalty and a dedication to delivering an extraordinary home loan experience. We empower our team members by engaging and immersing them in a fun, positive, and energetic atmosphere that places emphasis on the customer experience above all else. If you love coming to work every day and winning, hold yourself to high goals and standards, subscribe to a no drama workplace and live to serve your customers as much as each other…we want you on our team.

Mission Loans is seeking experienced mortgage professionals who thrive in a fast-paced environment without losing focus on quality of work and delivering an exceptional customer experience. As an Underwriter, your primary mission is to evaluate and decision borrower qualification for mortgage loans to ensure creditworthiness, ensure compliance with company, agency and investors standards and deliver a best-in-class customer experience.

Primary Duties & Responsibilities

  • Overall responsibility for (i) evaluation and decision of borrower qualification for a mortgage loan to ensure creditworthiness, (ii) ensuring compliance with company, agency and investors standards and (iii) delivering a best-in-class customer experience
  • Verify borrower loan application contains all necessary documentation, credit and financial information; calculate qualifying ratios; identify borrower risk profile
  • Perform thorough analysis of borrower’s application such as: (i) income and expense data, (ii) asset documentation, (iii) credit reports, (iv) employment, (v) title and (vi) property valuations in order to affirm borrower stability, capacity to repay and qualification against company, agency and/or investor guidelines
  • Make and issue independent, compliant underwriting decisions detailing clear conditions necessary to clear the loan for closing
  • Partner with sales, customer relationship managers and closers-funders to resolve problems, qualification issues and clear conditions throughout underwriting process
  • Manage underwriting pipeline queues (i.e. initial submissions, conditions, change requests, final approval) to deliver timely decisions that main company published service standards
  • Respond in a timely manner to assist in resolution of issues related to requests such as post-closing conditions, suspended loans, quality control audits, investor audits/inquiries
  • Second review support and mentoring; scenario support for production
  • Maintain current, working knowledge of company, agency and investor underwriting guidelines and policies
  • Operate with a goal to meet and exceed internal and external customer expectations
  • Operate in a manner that promotes loan quality and compliance with lending laws
  • Maintain productivity and quality performance at or above required goals

Skills & Abilities

  • Subscribe to a no drama workplace
  • Subscribe to the mission of creating a truly customer and team member centric environment
  • Love to come into work every day and win
  • Highly motivated, self-starter with ability to work independently under minimal supervision, and as a team player
  • Clear, effective interpersonal skills, written and verbal communication skills
  • Ability to work in a fast-paced, multi-tasking environment and manage to multiple deadlines
  • Strong analytical, problem solving and creative thinking skills
  • Ability to learn and adapt to guideline changes
  • Strong organization, follow through and time management skills
  • Excellent attention to detail with commitment to accuracy and quality
  • Dependable, responsible and able to use good judgement

Qualifications & Experience

  • College degree, preferred
  • 5+ years underwriting experience in high volume mortgage
  • FHA DE certification or VA SAR certification, both preferred
  • Thorough understanding of agency & investor underwriting guidelines, policies and procedures
  • Extensive knowledge in the following loan programs/products: conventional, FHA, VA, refinance and purchase, a plus – jumbo and non-QM
  • Advanced/Extensive knowledge and responsibility for compliance with state and federal regulations applicable to loan fulfillment
  • Advanced math skills; adept at calculating income from salaried and self-employed borrowers, qualifying ratios and other relevant loan calculations
  • Expert knowledge of Desktop Underwriter (DU) & Loan Prospector/Loan Product Advisor (LP/LPA)
  • Basic proficiency in Microsoft Office products (Excel, Word, PowerPoint, etc.)
  • Experience with Empower, a plus

Other Duties: This position profile is not intended to be an all-inclusive list of job duties and responsibilities, as one may be asked to perform additional related duties, as assigned, in order to meet the needs of the organization.

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