Mortgage Loan Underwriter

Valon Lending

Valon is currently scaling up its mortgage lending business, which aims to provide the ability to access low-cost, streamlined mortgage credit to Valon borrowers and tools to retain borrowers in their portfolio for Valon partners. We are looking for experienced and innovative individuals to help build our team and business who are eager to change the mortgage industry for the better.

About this Role

The Mortgage Underwriter will be responsible for but not limited to the underwriting of residential loans through final approval ensuring compliance with appropriate company and investor guidelines. A Mortgage Underwriter will be responsible for examining loan documentation for accuracy and completeness while working with loan originators, processors, or production staff to secure all required documents. 

Valon currently originates conventional and FHA loans, and underwriters can expect to be involved in both programs, with the possibility of additional programs being added in the future.

You may be required to work with more senior mortgage underwriters or the underwriting manager on loan exceptions having the authority to withdraw and decline loans. 

Responsibilities

• Analyze borrowers credit, income, assets, collateral and capacity to ensure credit-worthiness
• Review complex tax returns and income calculations 
• Review loans, mentor and train new hires
• Maintain a working knowledge of secondary market underwriting guidelines, private investor and private mortgage insurance guidelines
• Review new loans and clear conditions on resubmissions within SLA
• Respond to audits and perform quality control review on mortgage files 
• Maintain a focus on enhancing customer service skills and knowledge
• Ensure KPIs are met set forth by the underwriting manager
• Maintain quality and data integrity of all loan files
• Able to comply with the policies and procedures outlined in the Company Handbook
• Ability to multitask in a high-volume environment
• Continuous focus on the customer experience
• Ability to work independently
• High attention to detail and effective problem-solving skills

Minimum Qualifications

• 5+ years of conventional mortgage underwriting experience
• 3+ years of FHA DE underwriting experience (TOTAL Scorecard and Manual)
• 3+ years of using Encompass LOS (ICE Technology/EllieMae)
• Deep knowledge of Fannie Mae/DU, Freddie Mac/LPA, and FHA guidelines and automated underwriting systems
• Ability to critically examine credit, income, assets, title, and appraisals for adherence to company, investor, and GSE underwriting guidelines
• Understanding of relevant mortgage industry federal regulation, including RESPA, TILA, ECOA, TRID, CFPB, etc.

Ideal Background

• 10+ years of mortgage underwriting experience
• 5+ years of FHA DE experience
• Bachelor’s degree or equivalent work experience
• Strong communicator with excellent writing skills
• High integrity with strong ethical values
• Team player with the ability to work effectively with a variety of team members

Benefits

• Bonus paid for maintaining required file quality, percentage of pipeline closed
• Medical, Dental, and Vision insurance plans
• 15 vacation days, 5 sick days, and 11 paid company holidays
• Monthly lunch stipends (groceries qualify!)
• Commuter benefits
• Retirement plans
• PC laptop