Underwriter

Our team is redefining the industry – and creating a culture of excellence.

Founded in 2011, Atlantic Cost Mortgage embodies a people-first culture built on commitment, character, and innovation. Growing from 16 employees to over 200, our team is the most essential factor in our mission to redefine the mortgage industry. We believe people do their best work in an environment designed for success. This is why we’re so proud to have been recognized by the Washington Post as a 2018, 2019, 2020, 2021, 2022 Top Workplace Award Winner. As we continue to grow, we're looking for more than employees; we're looking for driven, energetic, and creative problem-solvers. If that's you and you're looking to build your career with an organization driven by a vision to disrupt and change our industry for the better - we'd love to talk.

Summary

The Mortgage Underwriter underwrites all levels of complexity of mortgage loan applications and evaluates loans in order to maximize organizational profit and minimize risk or loss. Responsible for collateral evaluation in accordance to agency and or investor guidelines. Well-versed in standard concepts, practices, and procedures of residential underwriting and is able to ensure that loan meets FHA and VA insurability. Able to manually underwrite loans and is not reliant on automated underwriting to make a sound credit decision.

Job Responsibilities Include, But Are Not Limited To

• Underwrites FHA/VA and Conventional loan applications ensuring adherence to Company and investor credit quality standards
• Maintain ACM mandated turn times for new reviews and conditions
• Analyzes mortgage loan files, which includes customer’s application, income documentation, appraisal and title reports, to ensure compliance with the company's policies, as well as, state and federal regulations
• Analyzes loan attributes and documentation for soundness and accuracy
• Analyzes loan applications to identify any risk issues
• Evaluates overall income, credit and equity of each loan application
• Ensures all required documentation have been received and completed for the loan process approval
• Determines the amount of loan to be approved when all criteria for underwriting have been met. Makes recommendation for loan approval
• Supports Loan Officers during the qualification process and for turndown decisions.
• Provides support to Loan Officers and Processors regarding questions and/or clarification of inquiries, loan files, and underwriting guidelines
• Ensures timely review and follow-up steps in order to meet and exceed customer’s expectations
• Keeps up-to-date on investor and regulatory policies, procedures and changes that affect mortgage underwriting
• Communicates with team members and management on outstanding requirements and conditions, as well as, the status of each loan application
• Analyzes appraisals (including FHA, under DE program, SAR under VA program and Portfolio Jumbo). Reviews the fee appraiser’s reports for completeness and conformity with industry-accepted appraisal practices and techniques as well as all other Federal Housing Administration (FHA) and Veterans Administration (VA) requirements. Determines the reasonable value of the property and any conditions which must be met prior to VA guaranty of the loan
• Knowledge of FHA Streamline and VA IRRLS
  
  

Job Requirements

• The candidate should be oriented toward a deal driven environment and capable of managing multiple transactions simultaneously under tight time pressure. Has thorough knowledge of all GSE underwriting requirements
• Possesses strong understanding of the operational responsibilities involved in the purchase and transfer of whole loan assets as it pertains to credit quality
• Skilled in negotiating issues and resolving problems
• Skilled in effective verbal and written communications, including active listening, and presenting findings and recommendations
• Ability to establish and maintain working relationships with co-workers, staff and external contacts, and to work effectively in a professional team environment
  
  

Qualifications

• FHA DE Designation (CHUMS#) - Must Have
• VA SAR/LAP - Must Have
• USDA/VHDA experience a plus
• A minimum of 3 years FHA/VA Underwriting experience
• Experience working with Fannie Mae Desktop Underwriter and Freddie Mac Loan Prospector
• Thorough knowledge and understanding of all federal and state guidelines
• Ability to read, analyze and interpret technical procedures and government regulations
• Superior internal and external customer service skills
• Exceptional written and verbal communication skills
• Exceptional organizational skills
• Ability to work independently with little to no supervision and be a team player
• Ability to work with all levels of the company
• Exceptional attention to details
• Must be proactive and reliable
• Proficient computer skills including Microsoft Office
• Proficiency in paperless loan underwriting
• Strong sense of urgency to meet deadlines
• Proficiency to perform job duties in a fast-paced environment
• Ability to influence others to effectively move the loan through to closing