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Job Details

Underwriter

Company name
Nations Lending Corporation

Location
Independence, OH

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Profile

Nations Lending Corporation\u2122 is a Cleveland, Ohio-based national direct mortgage lender and servicer, but we\u2019re much more than that. Our two company brands \u2014 NLC Loans, our consumer-direct national mortgage lending division, and Nations Lending, our 50 branches located throughout the U.S. \u2014 work together under the Nations Lending Corporation name and share one common goal: excellence in lending. 1. Evaluate loan applications for risks and various criteria such as investor requirements, accuracy, consistency and completeness. 2. Review new loan files to ensure loans meet investor and program criteria. Minimum standard of 60 loans per month and a turn time of 24 hours required. 3. Review transmittal & 1003 reports to check for accuracy and completeness. Compare to findings to verify that all information matches. 4. Review credit report and compare to liabilities on 1003. Verify the investor guidelines for outstanding derogatory items and requirement payment or satisfaction if needed. Request updated mortgage history if needed. 5. Calculate income using documentation required per investor, questioning any large changes in income. 6. Review asset statements to compare to required assets. Require documentation and source for any recent large deposit. 7. Review title to verify the borrower has ownership on a refinance transaction and that the seller has ownership for purchase transaction. Check to ensure chain of title meets agency requirements. 8. Verify there are no unpaid liens or judgements and that all mortgage liens are being paid off through the transaction. Compare tax figures to 1003. 9. Review appraisal to ensure the value is supported and that the appraiser has provided complete, accurate appraisal. Order value review on loans considered high risk. 10. Review file \u201cCalculate net tangible benefit\u201d for those states that require this test. 11. Verify that the rate lock matches the underwriting file with the correct program, LTV, credit score and pre-payment penalty. 12. Review final conditions turned in for Underwriting Final Approval within 24 hours. 13. Review a minimum number of files per day of 6-8, to include new submissions, re-submissions & final conditions. 14. Maintain current and fluid knowledge of investor and agency guidelines. 15. Approve loan with proper documentation or recommend further action. 16. Communicate effectively and engage proactively with loan originators, processors, branch managers, funders and post-closers in regard to loan decisions, assignment of loan conditions, investor guidelines\/documentation requirements and possible loan scenarios. 17. Apply knowledge of underwriting and pre-underwriting to best serve loan applicant and investor needs. Nations Lending is proud to be an Equal Opportunity Employer. We evaluate qualified applicants without regard to race, color, national origin, religion, sex, disability, veteran status, and other statuses protected by law. Nothing in this job description restricts management\u2019s right to assign or reassign duties and responsibilities to this job at any time.

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Nations Lending Corporation

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