The Collateral Underwriter is responsible for reviewing, analyzing, and underwriting residential collateral for new loan origination. The Collateral Underwriter is required to ensure each property valuation or condominium conforms to applicable agency/inventor guidelines prior to extending new loan credit to consumers. Moreover, the Collateral Underwriter ensures the quality of each property valuation or condominium project to mitigate unnecessary risk to RoundPoint.
The Collateral Underwriter reports to the Underwriting Manager. The Collateral Underwriter also works closely with appraisal management companies and intra/interdepartmental peers .
Key Tasks and Responsibilities
Review and approve residential appraisals and condominium projects for the purpose of loan collateralization.
Ensuring property type, condition and value conforms with applicable agency guidelines
Interfacing with Appraisal Management Companies
Handling Appraisal Management Companies work product/validation appeals.
Daily reporting to senior management
Work well with internal team members and other internal departments
Complete computer data entry as needed; i.e. Encompass, AUS systems, etc.
Communicate with originator, per service standards; answer underwriting and product questions
Complete Underwriting Certifications, as necessary
Complete and deliver work product with highest degree of customer service and accuracy
Other duties, as assigned.
Incumbent will be responsible for meeting RoundPoint’s commitment to compliance.
3-4 Years of Residential Appraisal or Loan Origination Underwriting Experience
Experienced in FNMA, FHLMC, FHA and VA Loan Originations collateral requirements
Experienced in analyzing, Single family property, multi-family property, condominium projects and mobile homes.
Proficient in Microsoft Office (Outlook, Word and Excel)
Strong Analytical Skills
Attention to Detail
Strong communication skills (verbal and written)
FHA DE certificate
License to Appraise Residential properties And/or bachelor’s Degree
Encompass operating system experience
Physical Demands and Work Environment
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this position. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job:
The employee is regularly required to talk or hear.
The employee is required to sit for extended periods of time and is occasionally required to stand and walk.
The employee must regularly use hands to finger, handle, or feel objects and is regularly required to reach with hands and arms; the employee may occasionally climb or balance, and stoop, kneel, crouch, or crawl.
The employee must frequently lift and/or move up to 10 pounds and occasionally lift and/or move up to 25 pounds.
Specific vision abilities required by this job include close vision, distance vision, color vision, and ability to adjust focus.
The noise level in the work environment is usually quiet to moderate, and no extreme conditions are present.