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Senior Underwriter - Mortgage Banking - Phoenix, AZ

Job Description

Position Summary

The qualified candidate will underwrite and apply necessary conditions to ensure the borrower meets program specifications.  As an Underwriter III, you will have expert knowledge of residential mortgage underwriting guidelines and are the highest-level designation within the underwriting team.  You will 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 III may have higher lending authority and may assist as needed with second reviews, group huddles or with shadowing/training opportunities for other team members.  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.


Business Description

The underwriter will review and analyze highly complex customer financial documentation, handle specialty or high risk loans/files, 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 Customer Assistant Specialists, Loan Processors, Quality Assurance, Closers and investors or government agencies as needed.


Principal Duties and Responsibilities

Applies knowledge of mortgage servicing process and/or Chase credit underwriting guidelines.

Adheres to all Chase Fair Lending practices

Demonstrates high proficiency in the review of loan underwriting and modifications documentation to ensure compliance with investor requirements (e.g. loan documents, appraisals, etc)

Demonstrates proficiency in analyzing extremely complex financial information including calculation of income and debt ratios, verification of assets, collateral review and credit review.

Resolves difficult and challenging problems by identifying potential or innovative solutions, determines 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

Highly developed 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

Prioritizes workflows

Demonstrates a determination to get the job done right the first time while ensuring loan decisions meet all program and product specifications


Knowledge and Experience

Minimum of 5 years experience as residential mortgage underwriter

Expert 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 in all levels of mortgage underwriting including Conventional, Government, Jumbo and Super Jumbo mortgage lending preferred.

Thorough knowledge of Mortgage Insurance policies

Excellent analytical and decision making skills

Ability to work independently with little supervision

High school diploma or equivalent required

College degree in business and/or equivalent work experience preferred


Core Competencies

Credit and collateral Underwriting

Residential Mortgage Underwriting

Capacity to analyze highly complex borrower documentation, determine income and repayment ability, assess borrower hardship as applicable for borrower assistance files, housing expenses, potential fraud and determine proper loan resolution.

Expert knowledge of specialized systems, tools, spreadsheet calculators, process and contractual requirements.

Strong commitment to customer service


Unique Requirements

Government designations may be required (VA Credit, VA LAPP, FHA DE)

Knowledge of Federal and State regulatory requirements a must



Req #: 170000629
Location: Phoenix, AZ US
Job Category: Credit
Employment Type: Full Time
Potential Referral Amount: US Dollar (USD)

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