American Financial Network, Inc. (AFN) is a unique force in the mortgage market. We are one of the nation’s largest privately held mortgage companies with the resources necessary to compete on a national level with the largest publicly held banks. AFN maintains speed to decision, responsive communication and flexibility through its private ownership and flat organizational structure. We are driven by a vision of being a market leader through creating the ultimate in customer service and being consistently better by always seeking new ways to improve.
The Underwriter underwrites mortgage loans ensuring compliance with appropriate company and secondary market investor standards. This position is responsible for evaluating loans in order to maximize organizational profit and minimize risk or loss, and examines loan documentation for accuracy and completeness. This position requires the employee to collaborate with loan originator or production staff to secure all required documents as well as work with multiple Non-QM and Jumbo investor’s pipelines and portals. The Underwriter has authority to withdraw and decline loans and the ability to validate income, asset and collateral documents including self-employed tax returns. The Underwriter may be involved in one or several types of mortgage lending (conventional, government-backed, etc.). Lending authority to include Conventional and government loan programs. Excellent phone and communication skills and a value of providing superior customer service experiences to internal and external customers is required.
- Minimum of 2 years working on Non-QM and Jumbo loans.
- Review new loan files to ensure loan meets investor and program criteria.
- Review transmittal & 1003 to make sure it is accurate and complete, compare to findings to verify that all information matches.
- 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.
- Calculate income using documentation required per investor, questioning any large changes in income. Knowledge of how to calculate Bank Statement and RSU income is a plus.
- Review assets statements to compare to required assets. Require documentation and source for any recent large deposits.
- Review title to verify our borrower has ownership on a refinance transaction and that the seller has ownership for purchase transaction. Check that chain of title meets investor requirements. Verify there are no unpaid liens or judgments and that all mortgage liens are being paid off through the transaction. Compare tax figures to 1003.
- 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.
- Review file to make sure compliance has been met; regulatory, state compliance and federal (patriot act).
- Calculate net tangible benefit for those states/programs that require this test
- Verify that the rate lock matches the underwriting file with the correct program, LTV, credit score and pre-payment penalty.
- Review final conditions turned in for Underwriting Final Approval within 24 hours.
- Maintain current and fluid knowledge of investor and agency guidelines.
- Must have experience working with multiple investors
- Conventional and FHA experience required (applicant must have a CHUMS)
- VA and USDA experience a plus
American Financial Network, Inc. (AFN) is an Equal Opportunity Employer, meaning we provide equal access and opportunity to anyone who qualifies for the position for which they apply, regardless of sex, race, age, color, religion, mental or physical disability, national origin, sexual orientation, gender identity and expression, and/or military status.