Repurchase Mortgage Underwriter – Home Equity Correspondent
Status:Full Time, Employee
Job Ref Code:110094344
Job Location:cleveland, OH 44101
Responsible for the re-underwrite of funded loans for credit deficiencies and underwriting defects. The Repurchase Underwriter is responsible for examining the loan file and approval, assessing the overall loan quality and making a determination as to whether the loan was initially underwritten improperly and a repurchase is warranted.
Typical Job Duties
* Review mortgage applications and borrower profile, financials, documentation and system data to determine compliance with Chase Credit Policy, Product Guide, and program specifications.
* Determine if the loan meets all policy and product guidelines and the approval was justified.
* Compose a comprehensive report that addresses the validity of the repurchase demand claims, analyzes the overall investor-quality of the underwritten credit profile and synthesizes the information in an Executive Summary that establishes Chase's position.
* Effectively communicate the discrepancies in underwriting and the decision to the repurchase request to all parties involved in working towards a resolution.
* Prioritize repurchase requests in a manner that yield the quickest recuperation of Chase's immediate losses and balancing that with specific loans segmented for their additional characteristics of inherent risk and likelihood of recovery.
Required:
* Minimum of 2+ years experience as a mortgage underwriter with signatory authority.
* Minimum of 4+ years mortgage experience.
* Strong verbal and written communication skills.
* Excellent analytical and decision making skills.
* Proficient internet navigation skills.
* Ability to adapt to constantly changing mortgage products and guidelines .
Preferred:
* College degree.
* Previous experience underwriting home equity lines and loans.
* Strong writing skills in order to write a coherent repurchase request.
* Strong negotiation skills.
* Strong experience with complex personal and business financial analysis and expertise in tax returns and balance sheet analysis, including both cash flow and AGI methods.
* High proficiency for audit functions and extremely detail oriented..
* Knowledge and proficiency in all areas of mortgage underwriting including Agency (FNMA/FHLMC) and Non-Agency lending guidelines. .
JPMorgan Chase is an Equal Opportunity and Affirmative Action Employer, M/F/D/V
JPMorgan Chase is an Equal Opportunity and Affirmative Action Employer, M/F/D/V.