Mortgage Underwriter II-Assumptions

Valon Lending

Valon is currently scaling up its mortgage lending business, which aims to provide the ability to access low-cost, streamlined mortgage credit to Valon borrowers and tools to retain borrowers in their portfolio for Valon partners. We are looking for experienced and innovative individuals to help build our team and business who are eager to change the mortgage industry for the better.

About this Role

As the Mortgage Underwriter II -Assumptions you will gather, process, and underwrite qualified assumptions on agency and government loans for fully underwritten credit qualifying assumptions for all loan types, and handle final document signing. Experience with all categories of Conventional loans necessary for processing, closing, and underwriting. Phone contact with existing customers, and realtors’ parties assuming loans are required. Other duties will be assigned as needed for line balancing within the Assumption and Special Products Department.

Responsibilities

• Gather, review, and analyze file documents including income, assets, credit, and title insurance to ensure completeness and accuracy.
• Performs final review of the completed application packages and prepares the file for approval, specifying any applicable conditions to the approval.
• Initiate and maintain contact with customers, and assuming parties throughout the processing period, assisting them with any questions and notifying them of any additional information needed.
• Send notice to the applicant of approval or denial.
• Follow procedures to ensure compliance with internal business standards and applicable federal, state, local, or other regulatory disclosures and requirements.
• Answering Assumptions Email box and Assumptions Department phone line.
• Satisfies conditions and ensures documentation meets requirements.
• Strive to provide a first-class experience for homeowners with special servicing needs, even though the role is behind the scenes.
• Maintain accurate and thorough documentation of all special servicing transactions.
• Keep detailed records of communication and actions taken for audit and compliance purposes.
• Identify opportunities for process improvements within the Special Products Team and contribute to enhancing overall operational efficiency.
• Work closely with other teams within Valon, such as customer service, legal, and loan origination, to ensure smooth and efficient handling of special servicing needs.
• Stay updated on industry regulations and guidelines, especially those related to special loan servicing, to ensure compliance in all processes.
• Assist with other Special Loans and Products tasks as assigned to include but not limited to: Servicemembers Civil Relief Act (SCRA), Mortgage Amendments, ARMs, and SII.

Minimum Qualifications

• Experience ensuring compliance with industry regulations and implementing processes to meet legal requirements.
• Proven ability to approach servicing challenges with creativity and innovation, finding effective solutions for unique and complex loan scenarios.
• Strong problem-solving skills and the ability to adapt to changing circumstances while maintaining a focus on customer satisfaction.
• Excellent communication skills, both written and verbal, to effectively interact with internal teams and external stakeholders.
• Demonstrated ability to collaborate with cross-functional teams, including customer service, legal, and loan origination, to achieve common goals.

Ideal Background

• Detailed knowledge of FNMA and Freddie Mac guidelines.
• Must be proficient with asset and income documentation, including but not limited to, tax returns, fixed income sources, paystubs, W2s, retirement statements, bank statements,
• Ability and willingness to train and mentor less experienced associates
• 3+ years of current Mortgage UW experience
• Knowledge of loan documentation, terms, and conditions, with a track record of accurate and compliant processing.
• Read, interpret, and apply applicable laws, rules, regulations, and/or policies and procedures.
• Demonstrated expertise in managing complex loan transactions, including recasts, assumptions, successor in interest, and partial release requests.
• Background in utilizing encompass for processing and/or underwriting

Benefits

• Compensation: Competitive salary and a 401(k) plan—with a 4% annual match!
• Hours: No weekends or late nights required!
• Generous amount of paid time off: 17 days of paid time off, 5 additional paid sick days, and 11 paid company holidays!
• Health & well-being: We’ll invest in your physical and mental well-being with comprehensive, low-cost medical, dental, & vision benefits, and an EAP for additional support!
• Food & meals: In-office snacks and drinks (and Bagel Fridays)!
• Grow together: We set new employees up for success with our company-wide New Hire Orientation! Other learning and development opportunities include quarterly possibilities for promotion and annual performance reviews.
• Baby bonding time: Birthing and non-birthing parents receive 12 weeks of FULLY PAID time off to focus on their new addition(s)!