Quontic, a growing federally chartered digital bank & lender is currently seeking a qualified on-site residential Mortgage Underwriter to join our Operations team located in either Astoria or Melville, New York. The Mortgage Underwriter would be responsible for examining loan documentation and evaluating credit decisions for accuracy, quality control, and compliance with portfolio and investor guidelines in a fast-paced, growing environment.
- Minimum 4 years of current residential underwriting experience;
- Familiar with different appraisal types and basic mortgage loan documents;
- Must have experience in automated underwriting systems; working knowledge of Encompass a plus;
- In depth understanding of mortgage insurance business, mortgage insurance programs, policies and services;
- Must have knowledge pertaining to the regulations governing mortgage lending;
- An understanding of compliance related issues in regards to initial disclosures and re-disclosures including correct fees, dates and compliance to regulations;
- Must have analytical and auditing skills as well as high mathematical aptitude;
- Strong communication (both verbal and written) and logic skills a must;
- Ability to plan and coordinate work flow with minimum supervision;
- Strong attention to detail;
- Ability to work independently and in a fast-paced environment.
- Primary responsibilities include providing a thorough evaluation of credit and property documents in loan files, identify potential risks, and advise as to the appropriate decision of the file as it relates to approving, declining or suspending the loan based upon FNMA/FHLMC and investor underwriting guidelines;
- Receive mortgage applications and underwrite applications as per designated limits;
- Must analyze income and employment detail of the borrower to determine the ability of the borrower to repay the mortgage loan;
- Evaluate asset documentation from which the applicant’s funds seem to be originating;
- Review the borrower’s credit report and credit rating to determine the ability of the borrower to repay the loan after analyzing the borrower’s prior payment history;
- Review the appraisal and check if it has been valued properly to warrant the loan requested from the bank;
- Confer with Loan Officers to aid in resolving Mortgage Lending Applications and final documentation.
Compensation & Benefits
- Compensation is commensurate with experience, education and skills;
- Comprehensive Benefits package;
- Semi-annual bonus eligibility.