NewCastle Home Loans is seeking an experienced Underwriter to join our Bucktown office team in Chicago, IL. In this role, you would be responsible for evaluating home loans in order to maximize organizational profit and minimize risk or loss and examine loan documentation for accuracy and completeness. You’d be an integral part of our loan processing team and collaborate with our loan originators to secure all required documents as well as work with multiple non-QM and jumbo loan investor’s pipelines and portals. Other responsibilities include reviewing necessary documents and ensuring internal and external customers receive quality customer service.
- Follow NewCastle’s internal policies and procedures.
- Underwrite residential mortgage loans in accordance with conventional FNMA and FHLMC guidelines.
- Effectively communicate decisions on loans to appropriate parties both verbally and in writing.
- Accurately calculate income, including tax return analysis and properly cataloging findings into a concise effective written summary.
- Make proper credit recommendations.
- Review credit reports and compare them to liabilities on 1003. Verify the investor guidelines for outstanding derogatory items and requirement payment or satisfaction, if needed.
- Review new loan files to ensure loans meet investor and program criteria.
- Review titles to verify our borrowers have ownership on refinance transactions and the seller has ownership for purchase transactions. Check the chain of title meets investor requirements. Verify there are no unpaid liens or judgments and that all mortgage liens are being paid off through the transaction. Compare tax figures to 1003
- Must have 3 - 5 years of front-end mortgage underwriting experience and be able to think outside of the box to obtain required information and complete tasks.
- Ability to effectively multi-task and work well in a fast-paced environment to meet critical deadlines.
- Ability to work independently and possess strong problem-solving skills.
- Clearly communicate decisions and stipulations through the appropriate source.
- Demonstrate professional behavior and teamwork as well as being punctual, dependable, and adhering to company policies and procedures.
- Strong knowledge of Freddie Mac and Fannie Mae underwriting guidelines as well as familiarity with AllRegs.
- Conventional and FHA experience required, VA and USDA experience a plus.
- Must be a team player with strong commitment and dedication to the position.
- Must have TRID experience.
Must be able to work Monday through Friday, 9 a.m. - 5 p..m. with overtime as required.
- Health insurance
- Dental insurance
- Vision insurance
- Paid time off