Walk-in Opportunity: Loan Processor/Underwriter - US Residential Mortgage

About the Role

This position encompasses both loan underwriting and loan processing responsibilities for US residential mortgages including conventional, FHA, VA, and CRA home loans. The Loan Underwriter carefully evaluates loan applications to ensure compliance with bank policies, regulatory requirements, and investor guidelines. The Loan Processor supports lending teams by managing loan files from conditional approval through closing, handling complex loan types and maintaining communication with borrowers and third parties.

Key Responsibilities

• Underwrite various loan types, including all income types and specialty residential mortgage and consumer loans, assessing risk and quality of submissions.
• Approve loans, propose alternatives, or take adverse actions based on informed judgment in line with bank rules.
• Verify data input into loan operating systems and assess required documentation. Communicate additional needed documents to loan processors.
• Maintain thorough knowledge of regulatory, investor, and internal lending policies.
• Identify and resolve loan exceptions, ensuring proper approvals and documentation are in place.
• Ensure files comply with internal standards and external regulations, managing issues related to file integrity.
• Provide training, coaching, and mentoring to assigned operational staff as needed.
• Process complex loans including those for self-employed borrowers, CEMA, condos, co-ops, Jumbo, and wealth lending.
• Serve as the primary borrower contact from conditional approval to closing, handling communication and follow-up for required documentation.
• Manage third-party vendor interactions, order and track delivery of necessary services such as title, insurance, verifications, and payoffs.
• Document all loan transaction interactions thoroughly.

Experience and Knowledge

• 2 to 8 years of mortgage loan underwriting or loan documentation experience.
• Strong understanding of loan underwriting documentation requirements and mortgage loan products.
• Familiar with Agency DU automated underwriting system and capable of handling large, complex, and specialty loan products.
• Knowledge of CRA products and industry is essential.
• Proficient with lending software applications.

Additional Information

Interested candidates are invited to participate in a walk-in event for this role. Candidates must be graduates and ready to work onsite in Chennai, India.