Underwriter

  • Homie
  • Jul 15, 2021

Job Description

Job Title: Underwriter

Type: Full-time

What is Homie?
Homie is everything that 90’s slang implies, and yes, we all call each other “Homie.” We are a group of hard-working, friendly people focused on disrupting the Real Estate Industry by simplifying the process and saving our customers (on average) $10,000. 

Homie launched in 2015 and has grown to be the #1 listing broker in the state of Utah. Our full-stack software platform (website and mobile app) streamlines the process from contract to close, eliminating high fees and commissions along the way. With real estate, home loans, and insurance services, Homie is disrupting an industry and making buying and selling a home a more simple, enjoyable, and affordable option. 

Homie’s Marketing Engine engages interested customers so all our professionals spend ALL of their time doing one thing - helping the customer. No prospecting, no schmoozing, and no back-scratching. Our success in Utah has led to expansions in Arizona (2019), Nevada (2020), Idaho (2020), and Colorado (2020). Our ambitions certainly don't stop here; join our team as we continue to disrupt the home-buying experience and change the real estate industry nationwide! 

Homie Values

Disruption: Real Estate is ready for improvement; time to change it! Come build with us
Loyalty: To our customers, to your teammates, and Homie to its employees
Balance: We want you to have a life outside of Homie
Humility: We all have more to learn

Job Description: Homie Loans is looking for an experienced and energetic Mortgage Underwriter to take on the challenge of a new product. This Mortgage Underwriter has deep mortgage processing and underwriting experience is tech-savvy, and a consumer advocate at their core. Our belief is that the mortgage industry needs a massive overhaul and we’re doing just that - you can call us a disrupter. We also believe that borrowers can save a tremendous amount of time, money, and headaches by bringing technology, efficiency, and commission reduction to the mortgage process. Are you up for that challenge? 

The Underwriter will be instrumental in scaling Homie Loans’ Underwriting operations division and taking us to the next level of lending. You will collaborate with the management team to help drive best practices and process implementation and improvement. 

Responsibilities

  • Underwrite loan Program Loans to verify completeness, accuracy, and compliance.
  • Develop and maintain an up to date and sound knowledge of multiple loan product guidelines offered by the company, DU/LP guidelines, and risk assessment tools used in the decision of mortgage loans.
  • Revise loans to new terms and identify additional conditions as needed to ensure a viable credit decision.
  • Review and evaluate borrower(s) profile, including but not limited to, all income documentation, tax returns, credit reports, preliminary report, judgments, bankruptcy documents, and appraisals.
  • Analyze and calculate income documentation such as personal and business income statements and ensure all necessary documentation is requested to support final loan decisions.
  • Follow AUS findings and adhere to overlays and/or guidelines as dictated by the private investors & agencies.
  • Ensure loans meet the Ability to Repay (ATR) rules established by the Consumer Financial Protection Bureau (CFPB) by considering and documenting the following eight underwriting factors.
  • Make adjustments to underwriting as necessary based on quality control findings and keep stakeholders informed of the changes.
  • Exercise good judgment, conduct reasonableness tests, and issue quality decisions.
  • Determine accuracy and completeness of files; ensure processes are consistent.
  • Demonstrate proficiency in automated underwriting systems (DU, LP).
  • Maintain a sound knowledge of secondary market activity, practices, and business/industry practices as they impact underwriting quality and origination activity.
  • Maintains pre-established service level standard of decisions within the time frame set by the company.
  • Communicate regularly with sales team, processors, and management.
  • Consistently meet or exceed established minimum productivity and quality goals set forth by management.
  • Respond to audits of loan files underwritten prior to and after funding is obtained.
  • Review all documentation submitted in a file for compliance with product and investor guidelines, borrower validation, Ability to Repay, and risk mitigation.
  • Review legal documentation, title reports, insurance policies, flood certificates.

Requirements

  • 5+ years Mortgage Processing or Underwriting
  • 3+ years of FHA/VA, Conventional, and USDA/RD underwriting experience
  • Experience in residential lending, reviewing credit documentation and underwriting files to FHA, VA, and Conventional guidelines
  • Understanding of TILA, RESPA and Predatory Lending
  • Appraisal review and tax return analysis skills required
  • Secondary market experience a plus
  • Encompass and GUS experience are preferred
  • Underwriting certifications a plus but not required
  • Outstanding written and oral communication skills
  • Accuracy and thoroughness in all aspects of the execution of responsibilities
  • Adherence to policies and procedures
  • Strong analytical and decision making/problem-solving skills
  • Possess a keen eye for accuracy, attention to detail, and the ability to handle a high-volume workload
  • Highly motivated with the ability to work in a fast-paced environment
  • Excellent interpersonal, organizational, prioritization, and time management skills
  • Ability to deliver effective results and to meet deadlines with minimal supervision
  • Self-starter, adapt to a changing environment, and have the ability to communicate and work well with Investors and co-workers

What you’ll love about working at Homie

  • Holidays: 13 paid holidays, including our very own - Homie Day! Oh, and you get your birthday off!
  • 401K retirement savings plan.
  • Time off: To begin you will receive a week of separated sick time and starting PTO at 3 weeks per year (accrual), with an increase each service year.
  • Mental health is very important to us! We have online assistance programs that include things such as virtual yoga, meditation, and even the ability to book virtual counseling.
  • Health benefits: Medical, Dental, and Vision with an HSA option. Life and Disability coverage.
  • Company stock options.
  • Discounted rates on Homie products: Title, Mortgage, Insurance, or new home purchase.

More About Homie
Homie’s Marketing Engine engages interested customers so all our professionals spend ALL of their time doing one thing - helping the customer. No prospecting, no schmoozing, and no back-scratching. Our success in Utah has led to expansions in Arizona (2019), Nevada (2020), Idaho (2020), and Colorado (2020). Our ambitions certainly don't stop here; join our team as we continue to disrupt the home-buying experience and change the real estate industry nationwide!

Our Commitment to Diversity and Inclusion
We’re committed to growing and empowering a more inclusive community within our company, industry, and cities. That’s why we hire and cultivate diverse teams of the best and brightest from all backgrounds, experiences, and perspectives. We believe that true innovation happens when everyone has room at the table and the tools, resources, and opportunities to excel.

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