8-10 YEARS EXPERIENCE MANUAL UNDERWRITINGSIGNING AUTHORITY PREFERREDDEGREE PREFERREDSTABLE EMPLOYMENTREPURCHASE LETTER REQUIREDUnderwriting Consultant The National Underwriting Center (NUC) manages 's loan-level quality assurance by reviewing loan files, analyzing and reporting on significant loan quality trends, and initiating necessary action(s) to mitigate losses. Review closed loans for eligibility with respect to Fannie Mae s Selling Guide, DU Guide, and/or negotiated terms as defined by contracts with Fannie Mae s lender partners Perform risk analysis and make decision regarding deficiencies identified during the review process Identify transaction components that indicate a potential for fraud and perform sufficient investigative work to resolve issues that are identified Accurately record data and review conclusions in QAS (Quality Assurance System) Professionally communicate the results of file reviews both verbally and in written format to internal and external customers Maintain a sound knowledge of guidelines, DU guidelines, and risk assessment tools used to decision mortgage loans Maintain a sound knowledge of secondary market activity, practices, and business/industry practices as they impact underwriting quality and origination activity Undergraduate degree strongly preferred. Graduate degree in business, finance, accounting or related discipline preferred. Prefer a minimum of 10 years of underwriting experience. Understanding of traditional mortgage origination and underwriting practices In-depth knowledge of Fannie Mae s underwriting and quality control guidelines; Strong analytical, problem solving, and negotiation skills. Effective written and verbal communication/presentation skills. Intermediate user of MS Word and MS Excel, or comparable software packages Strong organizational skills, teamwork, and results orientation DO NOT WANT AUS (AUTOMATED UNDERWRITING SYSTEM) EXP MANUAL UNDERWRITING EXP IS A MUST Secondary Market Exp is ideal Need to know Fannie or Freddie Mac guidelines NO SUB-PRIME EXP
WRITING SAMPLE REQUEST
Please prepare a repurchase letter addressed to ABC Mortgage Company, detailing the following deficiencies:
Scenario You have reviewed a 95 percent LTV fixed rate purchase transaction and identified that there were excessive seller contributions of five percent. The five percent down payment was sourced from Plains Bank, but the account was opened less than one month at the time of verification. Mortgage insurance was rescinded due to these deficiencies
(UNDERWRITER over 5.0 year(s) OR UNDERWRITING over 5.0 year(s) ) AND(FNMA OR FANNIE MAE OR FREDDIE MAC OR GUIDELINES OR MORTGAGE OR HOME LOANS ) AND(MS OFFICE OR MS WORD OR EXCEL ) AND(MANUAL )
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