The qualified candidate will underwrite and apply necessary conditions to ensure the borrower meets program specifications. As an Underwriter II, you will have working knowledge of residential mortgage and/or home equity underwriting guidelines and be responsible for the analysis of submitted files for repayment capacity, capital/assets, character, collateral and property condition, while adhering to Chase credit policies and investor/agency guidelines. Underwriter II will have the ability to discuss and convey credit decisions with both internal and external customers. Underwriters support and uphold fair lending practices of JPMorgan Chase, and are responsible for productivity targets ensuring the highest quality and level of customer satisfaction.
The underwriter will review and analyze complex customer financial documentation and propose solutions to assist customers in obtaining and/or retaining homeownership. The staff members may interact with other internal and external parties such as Customers, Branch Personnel, Customer Assistant Specialists/Loan Processors, Quality Assurance, Closers and investors or government agencies as needed.
Principal Duties and Responsibilities
Applies knowledge Chase credit underwriting guidelines.
Adheres to all Chase Fair Lending practices
Reviews all loan underwriting documentation to ensure compliance with investor requirements (e.g. loan documents, appraisals, etc.)
Analyzes complex financial information including calculation of income and debt ratios, verification of assets, collateral review and credit review.
Analyzes difficult and challenging problems and identifies potential or innovative solutions, identifies documentation deficiencies within review and communicates findings with clarity
Keep up to date on all credit policy changes that impact underwriting
Displays customer service excellence
Applies relevant technical and computer expertise
Strong verbal and written communication skills as well as excellent teamwork with internal employees and external customers/business partners.
Achieves and exceeds work goals for productivity, quality and turnaround time
Demonstrates a determination to get the job done right the first time while ensuring loan decisions meet all program and product specifications
This position is subject to the Dodd Frank/Truth in Lending Act qualification requirements for Loan Originators. As such, an employment offer for this position is contingent on JPMC’s review of your criminal conviction history, credit report, information available through NMLS, and any other information relevant to a determination by JPMC that you demonstrate financial responsibility, good character, and general fitness for the position. Note that any felony conviction within the last seven years will disqualify you from consideration for this position. Your continued employment in this position would be contingent upon compliance with Truth in Lending Act/Dodd Frank Loan Originator requirements.
In addition, this position requires National Mortgage Licensing System and Registry (NMLS) registration under the SAFE Act of 2008. As such, upon active employment with JPMorgan Chase, you will be required to either register on NMLS, or to update your existing registration as necessary to grant access to and reflect your employment with JPMorgan Chase. Your continued employment in this position with JPMorgan Chase is contingent upon compliance with the SAFE Act, including successful registration immediately after your start date, and timely completion of annual renewal and required updates thereafter.
Any information obtained during the registration, update, and renewal processes or through NMLS notifications may impact your employment with the firm. Any of the completed information you provide during the Chase on-line application process may be transferred, on your behalf, to NMLS by JPMorgan Chase. Please carefully review the information you provide to Chase for accuracy and consistency and with any current NMLS record, if applicable, before submitting. Further information about NMLS and registration requirements of registration can be found at: http://mortgage.nationwidelicensingsystem.org/SAFE/Pages/default.aspx
Knowledge and Experience
Minimum of 3 years experience as a residential mortgage underwriter, home equity underwriter, or processing experience.
Thorough knowledge of complex personal and business financial analysis and an expertise in tax return, balance sheet analysis including cash flow and self employment income analysis.
Knowledge and proficiency of Conventional and/or Government mortgage underwriting preferred.
Excellent analytical and decision making skills
High school diploma or equivalent required
College degree in business and/or equivalent work experience preferred
Credit and/or collateral Underwriting
Residential Mortgage/Home Equity Underwriting
Capacity to analyze borrower documentation, determine income and repayment ability, housing expenses, potential fraud and determine proper loan resolution.
Knowledge of specialized systems, tools, spreadsheet calculators, process and contractual requirements.
Strong commitment to customer service
Ability to communicate effectively with all parties
Knowledge of Federal and State regulatory requirements
Please note that J.P. Morgan will not accept unsolicited approaches or speculative CVs, nor will J.P. Morgan be responsible for any related fees, from Third Party Firms who are not preferred suppliers.
The firm invites all interested and qualified candidates to apply for employment opportunities.
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