Construction Underwriter

📋 Description

• • Evaluate construction loan applications for risk, accuracy, consistency, and compliance with secondary market investor standards.
• • Review construction-specific documentation to ensure adherence to agency guidelines and regulatory requirements.
• • Process a minimum of 40 loan files per month with a 24-hour turnaround time for underwriting decisions.
• • Verify borrower income by analyzing tax returns, pay stubs, and other documentation, with special attention to self-employed applicants.
• • Examine asset statements to confirm required reserves, validate large deposits, and ensure sufficient liquidity for loan approval.
• • Confirm title ownership status and identify and resolve any liens, judgments, or title defects per investor guidelines.
• • Validate appraisal accuracy and initiate value reviews for high-risk construction loans.
• • Calculate net tangible benefit for applicable refinance transactions in accordance with regulatory requirements.
• • Verify rate lock details including loan program, LTV, credit score, and penalty structures against underwriting records.
• • Review daily loan files including new submissions, resubmissions, and final conditions to ensure timely approval or denial.
• • Ensure full compliance with state and federal regulations, including ATR/QM requirements and disclosure obligations.
• • Collaborate with Loan Originators, Processors, and Branch Managers to obtain missing or incomplete documentation and clarify loan details.
• • Approve or recommend loan actions based on complete, accurate, and compliant documentation.
• • Stay current with evolving investor and agency guidelines for FHA, VA, and Conventional loan programs.
• • Apply underwriting expertise to optimize approval rates while minimizing risk and maximizing organizational profitability.
• • Perform final condition processing for underwriting approval within 24 hours of submission.
• • Utilize Encompass LOS for loan processing and documentation management, when applicable.
• • Maintain thorough understanding of Closing, Post-Closing, and Quality Control responsibilities related to construction lending.
• • Demonstrate strong prioritization and time management skills to consistently meet production targets and deadlines.
• • Communicate clearly and professionally with internal stakeholders to support loan decisions and resolve underwriting issues promptly.
• • Proficiently use Microsoft Word, Excel, and Outlook to manage loan documentation, correspondence, and reporting.