Collateral Underwriter Specialist

Description

The Collateral Underwriter is responsible for the timely and accurate analysis and evaluation of appraisals and the scoring modules issued by Fannie Mae (CU) and Freddie Mac (LCA). The role of the Collateral Underwriter will include the review, repair, escalation, and approval of all Conventional, FHA, USDA, and VA appraisals.

At UHM, we understand diversity comes in many different forms. It’s our commitment to improve inclusion in the workplace through programs and policies that establish a positive and inclusive environment where every Partner, regardless of their background, can grow and excel. We value diversity, educate on equity, and create inclusive partner opportunities to ensure that you know #UBelongAtUHM!

DUTIES & RESPONSIBILITIES

• Responsible for underwriting 8- 12 new appraisals per day while minimizing any risk to the company by thoroughly analyzing the collateral to ensure compliance with our investors, agencies, FHA, VA, USDA
• Responsible for remaining updated on all investor, agency, FHA, VA, UHM guideline changes along with any overlays.
• Responsible for remaining updated on current market conditions impacting collateral evaluation in UHM lending areas as applicable to secondary market lending.
• Manage escalations to Team Leads and ensure follow-through of all appraisal requirements during all loan milestones, based on company policy.
• Manage new and revised appraisal pipelines through Mercury.
• Communicate with Appraisers within Mercury when any corrections and or revisions are required and any follow-up.
• Responsible to review and submit reconsideration of value requests on behalf of the loan officer
• Responsible for all associated data entry necessary into UHM LOS to document the review and salability of the collateral.
• Maintain 24-48 hour turn times on all newly received appraisals for approval.
• Responsible for clearing appraisal revisions within 24 hours.
• Assistance with Help Desk questions regarding property questions/eligibility examples  
• Manage department emails on a rotating basis                                                      
• Attend appropriate seminars to keep abreast of current market trends and developments.
• Sit in on roundtables when needed.
• Provide training support to sales force and staff as needed
• Responsible for listening in on our departmental huddles.
• Assist loan officers with scenarios and explain any conditions that are not clear to them.

Qualifications

EDUCATION & EXPERIENCE

• 3-5 years of experience as a Underwriter and complete knowledge of the mortgage business
• FHA DE 
• DE with Renovations experience is preferred

SKILLS REQUIRED

• Experience with Agency loan reviews.
• Comprehensive understanding of appraisal requirements for all property types
• Strong analytical skills, especially in credit and risk, along with decision-making skills
• Effective interpersonal skills and technical report writing skills
• Attention to detail
• Knowledge of Encompass LOS
• Detailed knowledge of CU and LCA and how this data is used in collateral analysis.                                                               
• Shows work commitment
• Personal organization
• Adaptability and flexibility
• Ability to multi-task and meet strict deadlines
• Fosters teamwork
• Uses sound judgment
• Comfortable using financial/quantitative data
• Competent and proficient with the use of Collateral Underwriter and Loan Collateral Advisor

This employer participates in E-Verify. If hired, the employer will provide the federal government with your Form I-9 information to confirm that you are authorized to work in the U.S.

Union Home Mortgage Corp. provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state or local laws.