4-9 years
3 months ago 29 Applied
Job Description



Location: Bangalore / Mumbai / Pune

Job Overview:
The Conventional Underwriter reviews, conditions and underwrites mortgage loans in accordance
with established policies and procunedures and appropriate guidelines; examines all documentation for
accuracy and completeness.
Key Required Skills: -
Excellent at Income Calculation and Debt-to-Income (DTI) Ratio Calculation.
Expertise in 4C's framework (Credit, Capacity, Collateral and Capital),
Familiar in Credit report Analysis & LOX (Letter of Explanation).
Knowledge on Credit Bureau, Documents to approve the loan, Familiar with different account types.
Job Roles and Responsibilities:
Review and analyse the mortgage loan application to ensure eligibility, accuracy, completeness, and compliance with internal and regulatory guidelines to minimize risk factors.
Review all required loan data, reports, and inspections to insure the collateral is acceptable to investor and the company.
Knowledge of Lending & Underwriting Guidelines | Credit & Income Analysis | Cash Flow Analysis |
Risk Assessment | Loan-to-Value Ratios | Debt-to-Income Ratios
Review Initial application - Verify loan, property, borrowers information with other available documents - Verify borrower's monthly income and expenses - Verify other relevant sections.
Review all the documents related to borrower's Credit, Capacity, Collateral and Capital.
Calculate asset required for closing and reserve purpose for the transaction (as per guideline)
Responsible for making independent decisions regarding acceptance and risk of loans according to HUD, company, and investor guidelines.
Provides final approval underwriting of mortgage loans.
Completes all required paperwork and forms in a timely and accurate manner; prepares required forms.
Sign off conditions in a timely manner set by management.
Work with staff and management to find solutions on escalated loans.
May be requested to make recommendations for improving Internal Audit's policies and practices.
Manage loans by using all functions of Encompass.
Effectively communicate underwriting decisions with processors and advisors
Maintain high level of customer service and communication with other departments. Other duties as assigned.
Qualification & Experience
Degree or Equivalent
Minimum 4 years of experience in conventional/govt end to end underwriting.
Well-versed with all 4C's of Underwriting (Asset, Income, Credit and Collateral)
US Mortgage Process (Only Night Shifts)

Location: Pune

VARITE is a global staffing and IT consulting company providing technical consulting and team augmentation services to Fortune 1000 Companies in USA, CANADA and INDIA. VARITE is currently a primary and direct vendors to the leading corporations in the verticals of Networking, Cloud Infrastructure, Hardware and Software, Digital Marketing and Media Solutions, Clinical Diagnostics, Utilities, Gaming and Entertainment, and Financial Services.

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