The Collateral Underwriter is responsible for reviewing, analyzing, and underwriting residential collateral for new loan originations. The Collateral Underwriter is required to ensure each property valuation or condominium conforms to applicable agency/inventor guidelines prior to extending new loan credit to consumers. Moreover, the Collateral Underwriter ensures the quality of each property valuation or condominium project to mitigate unnecessary risk.
- Review and approve residential appraisals and condominium projects for the purpose of loan collateralization.
- Ensuring property type, condition and value conforms with applicable agency guidelines
- Interfacing with Appraisal Management Companies
- Handling Appraisal Management Companies work product/validation appeals.
- Strict adherence to company turn-times and guidelines.
- Practice clear and concise communications.
- Complete computer data entry as needed, i.e., Encompass, AUS systems, etc.
- Communicate with originator, per service standards, answer underwriting and product questions
- Complete Underwriting Certifications.
- 3-4 Years of Residential Appraisal or Loan Origination Underwriting Experience
- Experienced in FNMA, FHLMC, FHA and VA Loan Originations collateral requirements
- Experienced in analyzing, Single family property, multi-family property, condominium projects and mobile homes.
- Proficient in Microsoft Office (Outlook, Word and Excel)
- Strong Analytical Skills
- Attention to Detail
- Strong communication skills (verbal and written)
- VA SAR
- FHA DE certificate
- License to Appraise Residential properties and/or bachelor’s Degree
- Encompass operating system experience