Key Responsibilities
- Review 1003/URLA and supporting loan documents.
- Analyze income, employment, assets, liabilities, credit and REO.
- Review Non-QM / DSCR loan scenarios.
- Validate bank statements, large deposits and source of funds.
- Review appraisal, property, occupancy and LTV/CLTV.
- Identify discrepancies across 1003, credit and supporting documents.
- Make independent underwriting decisions based on applicable guidelines.
SCOPE OF WORK FOR LIVE UNDERWRITER ROLE
• Loan Application Review & Credit Assessment:
Review and analyze loan applications and supporting documentation including income, credit reports, employment history, and property details. Assess borrower creditworthiness using the 4 C’s methodology (Character, Capacity, Capital, Collateral) to ensure sound lending decisions.• Income Calculation & Financial Analysis:
Evaluate and calculate borrower income from various sources including salaried, hourly, commission, bonus, rental, and self-employment income. Analyze documents such as paystubs, W-2s, tax returns, and business financials (Schedule C, K-1, 1065, 1120S) to determine qualifying income accurately.• Collateral & Property Evaluation:
Review appraisal reports, AVMs, and residential valuation documents to validate property value and ensure compliance with lending guidelines. Analyze title reports, lien positions, and ownership details.• Underwriting Decision & Documentation:
Prepare detailed underwriting summaries, identify red flags, and document conditions and stipulations within the Loan Origination System (LOS), preferably Encompass. Recommend appropriate loan structures based on risk assessment.• Workflow Management & Communication:
Collaborate with processors and internal stakeholders throughout the underwriting lifecycle. Provide clear communication on loan decisions, required conditions, and final clear-to-close (CTC) status.• Risk Identification & Compliance:
Identify discrepancies, inconsistencies, and potential risks in loan files. Ensure all underwriting decisions comply with internal policies and regulatory requirements.• Reporting & Reconciliation:
• System Utilization & Process Adherence:
Handle reconciliation of complex borrower accounts and prepare daily aging and pipeline reports to track loan progress and turnaround times.
Utilize LOS platforms (Encompass preferred) and adhere to underwriting workflows, ensuring accuracy, efficiency, and compliance with company standards.
Mandatory Skills
- US Residential Mortgage Live Underwriting experience - 2 years and above
- Strong knowledge of 1003/URLA documentation
- Experience with DU/AUS
- Strong income, credit, asset and liability analysis
- Non-QM / DSCR experience preferred
- HSC or Graduate passouts can apply for the job
JOB DETAILS
- Company: Sutherland Mortgage Services
- Location: Navi Mumbai (Work From Office)
- Experience: 2–3 Years (Live Underwriting Mandatory)
- Shift: US Shift (Any 9 Hours of shift)
- Week Offs: 2 Week offs
- Employment Type: Full-Time
- Mediclaim and Insurance benefits along with travel allowance.