US Conventional Mortgage Underwriter Department: Mortgage Operations

Experience:
2–6 Years Employment Type: Full-Time Loan Programs: Fannie Mae & Freddie Mac – Conventional Job Summary We are looking for an experienced US Conventional Mortgage Underwriter to join our Mortgage Operations team. The ideal candidate will have strong hands-on experience underwriting residential mortgage loans in accordance with Fannie Mae and Freddie Mac guidelines. The candidate will be responsible for reviewing and evaluating borrower credit, income, assets, liabilities, property, and overall loan eligibility. The role requires strong knowledge of Desktop Underwriter (DU), Loan Product Advisor (LPA), conventional underwriting guidelines, and US mortgage underwriting processes. The ideal candidate should be able to independently underwrite complex loan files, make sound underwriting decisions, and ensure all loans meet applicable investor and internal requirements.

Key Responsibilities
Loan Application & AUS Review
- Review Form 1003/URLA and supporting loan documentation.
- Analyze DU and LPA findings and determine loan eligibility.
- Review LTV, CLTV, HCLTV, DTI, loan amount, occupancy, and other loan parameters.
- Identify discrepancies between the loan application, supporting documents, and AUS findings.
- Evaluate loan eligibility based on Fannie Mae and Freddie Mac guidelines. Income Analysis
- Calculate and validate qualifying income for salaried, hourly, self-employed, and other income types.
- Review W-2s, paystubs, personal tax returns (1040), business tax returns (1120, 1120S, 1065), Schedule C/E/F, and K-1s.
- Analyze retirement, Social Security, pension, rental, bonus, commission, and overtime income.
- Evaluate income stability, continuance, and likelihood of receipt.
- Identify declining income, employment gaps, and inconsistencies.
- Apply appropriate agency guidelines for income calculation and documentation. Credit & Liability Analysis
- Review credit reports and assess borrower creditworthiness.
- Analyze credit history, payment patterns, and outstanding liabilities.




- Calculate and validate Debt-to-Income (DTI) ratios.
- Review collections, charge-offs, judgments, bankruptcies, and foreclosures.
- Evaluate disputed accounts and other credit-related risk factors.
- Identify undisclosed liabilities and credit discrepancies. Asset Analysis
- Review bank statements, investment accounts, retirement accounts, and other eligible assets.
- Verify funds required for down payment, closing costs, and reserves.
- Analyze large deposits and determine acceptable sources of funds.
- Evaluate gift funds, seller credits, and interested-party contributions.
- Ensure asset documentation meets applicable agency requirements. Property & Collateral Analysis
- Review appraisal reports and property-related documentation.
- Evaluate property eligibility, marketability, and collateral acceptability.
- Review title commitments, homeowners insurance, and other applicable documents.
- Verify property value and applicable LTV requirements.
- Identify appraisal discrepancies and collateral-related risks. Underwriting Decisions & Conditions
- Make underwriting decisions in accordance with applicable agency and investor guidelines.
- Issue transparent, specific, and actionable underwriting conditions.
- Review documents submitted to satisfy outstanding conditions.
- Clear underwriting conditions and provide final loan approval.
- Review updated credit, income, assets, and other documentation when required.
- Provide final approval and Clear to Close (CTC), subject to applicable closing requirements. Compliance & Quality Control
- Ensure adherence to Fannie Mae Selling Guide and Freddie Mac Seller/Servicer Guide requirements.




- Follow applicable federal and state mortgage lending regulations.
- Identify potential fraud indicators and documentation inconsistencies.
- Maintain accurate underwriting notes and decision records.
- Meet internal quality, productivity, and turnaround-time standards. Required Qualifications
- 2–6 years of hands-on experience in US Conventional Mortgage Underwriting.
- Strong knowledge of Fannie Mae and Freddie Mac conventional underwriting guidelines.
- Hands-on experience with Desktop Underwriter (DU) and Loan Product Advisor (LPA).
- Strong expertise in income calculation, including self-employed borrower income.
- Thorough understanding of credit, assets, liabilities, and collateral analysis.
- Strong knowledge of DTI, LTV, CLTV, HCLTV, reserves, and loan eligibility requirements.
- Experience with initial, conditional, and final underwriting.
- Familiarity with US mortgage LOS platforms and underwriting workflows.
- Bachelor's degree preferred. Preferred Skills
- Ability to independently underwrite complex conventional mortgage files.
- Strong understanding of Fannie Mae and Freddie Mac underwriting guidelines.
- Experience analyzing complex self-employed income and multiple income sources.
- Knowledge of primary residences, second homes, and investment properties.
- Strong ability to identify credit, income, asset, and collateral risks.
- Excellent analytical and decision-making skills.
- Strong written and verbal communication skills.
- Ability to meet productivity, quality, and turnaround-time expectations. Key Performance Indicators
- Underwriting productivity.
- Underwriting accuracy and quality.
- Turnaround time (TAT).
- Condition accuracy and relevancy.
- Compliance with investor guidelines.
- Timely review and clearance of outstanding conditions.
- Overall loan quality and error reduction. Pay: From ₹75,000.00 per month

Benefits:
- Provident Fund

Education:
- Bachelor's (Preferred)

Location:
- Remote (Required) Work

Location:
Remote

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