| Mortgage Underwriter III |
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| Also referred to as: Mortgage Underwriter III, Senior Mortgage Underwriter |
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| Requirements and Responsibilities |
| Evaluates the risk of mortgage loan applications against the firm's objectives and borrowing guidelines using analysis and assessment of creditworthiness criteria. Reviews the applicant's financial status, documents, data, and property appraisal. Calculates LTV ratio (loan to value) to define the loan program eligibility, down payment, interest rate, repayment terms, and allowed loan amounts. Makes approval, rejection, or modification decisions based on underwriting guidelines and established approval limits. Complies with all federal regulations, state laws, and internal policies related to mortgage lending. Escalates non-conforming loans that require approval review using an exception process. Typically requires a bachelor's degree. Typically reports to a supervisor or manager. Work is generally independent and collaborative in nature. Contributes to moderately complex aspects of a project. Typically requires 4-7 years of related experience. |
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| Similar Jobs: Mortgage Underwriter I, Mortgage Underwriter II, Mortgage Underwriter IV, Underwriter III, Underwriter (Life) III, Mortgage Operations Associate Director, Underwriter (P/C) III, Mortgage Loan Processor III, Mortgage Collector III |
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| Level of Education: Mortgage Underwriter III Salaries with a High School Diploma or Technical Certificate, Mortgage Underwriter III Salaries with an Associate's Degree, Mortgage Underwriter III Salaries with a Bachelor's Degree, Mortgage Underwriter III Salaries with a Master's Degree or MBA, Mortgage Underwriter III Salaries with a JD, MD, PhD or Equivalent |
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| Industries: Financial Services, Insurance | |
