Loan Underwriter (US)
Job Profile Summary: The Loan Underwriter and evaluates conventional, FHA, VA, and CRA Residential Mortgage applications in compliance with bank policies and procedures. This job also underwrites and evaluates Home Equity and Consumer Loans.
Depth & Scope:
· Underwrites ethical and salable residential mortgage and consumer loans and evaluates risk while ensuring the quality of each loan submitted
· Approves loans, issues alternative options, or adverse action accordingly using sound judgment while applying bank policies and procedures
· Validates the data entry to the appropriate Loan Operating System and evaluates all applicable documentation as required by job function
· Evaluates all documents and conditions loan accordingly
· Identifies loans for exceptions while ensuring proper procedures are followed for approval and documentation; clears or resolves any issues
· Escalates integrity issues as appropriate and ensures files are compliant to internal guidelines and external regulatory requirements
· Maintains knowledge of loan product guidelines, internal policies and procedures, and regulatory requirements
· Coaches and mentors assigned operations staff; assists with training and guidance as assigned
· Monitors vendor performance if required, submits monthly reports to management
Education & Experience:
· 2 year degree or equivalent experience preferred
· 3-5 years loan underwriting experience or 5-7 years of loan processing experience
· 3-5 Years Residential Loan Underwriting Experience
· Supports the High Net Worth/Wealth Mgmt customers, with residential/consumer lending limits in the $1-2MM aggregate range as approved by Credit Risk Management
· Outstanding knowledge of loan underwriting documentation requirements
· Mortgage Operations - complete knowledge of FNMA DU automated underwriting system; must also be familiar with underwriting jumbo loans and government products such as FHA and VA loans
· Ability to effectively communicate with all types of personalities and the ability to provide excellent customer service to both internal and external customers
· Superior oral and written communication skills
· Excellent PC skills
· In-depth knowledge of regulatory, investor and departmental lending policies for underwriting of conventional loan requests
· In-depth knowledge of CRA products and industry
· Detail oriented, possessing excellent organizational, analytical and decision making skills
· Ability to communicate with multiple business partners in the organization
· Ability to handle heavy workload, multitask and meet stringent deadlines
About Cognizant:
Cognizant (Nasdaq: CTSH) is an AI Builder and technology services provider, bridging the gap between AI investment and enterprise value by building full-stack AI solutions for our clients. Our deep industry, process and engineering expertise enables us to build an organization’s unique context into technology systems that amplify human potential, drive tangible outcomes and keep global enterprises ahead in a fast-changing world. See how at cognizant.ai or @cognizant.
Additional employment information
Compensation information is accurate as of the date of this posting. Cognizant reserves the right to modify this information at any time, subject to applicable law.
Language requirements vary depending on roles, but we ask that all candidates have basic English proficiency for company-wide communications purposes. For roles based in Quebec, professional English proficiency is required, as you’ll deliver services to and collaborate with stakeholders outside the province who may not speak French.
Cognizant is an equal opportunity employer. Your application and candidacy will not be considered based on race, color, sex, religion, creed, sexual orientation, gender identity, national origin, disability, genetic information, pregnancy, veteran status or any other characteristic protected by federal, provincial or local laws.
If you have a disability that requires reasonable accommodation to search for a job opening or submit an application, please email [email protected] with your request and contact information.
