The qualified candidate will underwrite and apply necessary conditions to ensure the borrower meets program specifications. As an Underwriter I, you will have developing knowledge of residential mortgage 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. 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 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 Customer Assistant Specialists, Loan Processors, Quality Assurance, Closers and investors or government agencies as needed.
Credit and/or collateral Underwriting
Residential Mortgage Underwriting
Capacity to analyze 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.
Knowledge of specialized systems, tools, spreadsheet calculators, process and contractual requirements.
Strong commitment to customer service
Principal Duties and Responsibilities (in order of importance)
Applies knowledge of mortgage servicing process and/or Chase credit underwriting guidelines.
Adheres to all Chase Fair Lending practices
Reviews all loan underwriting and modifications documentation to ensure compliance with investor requirements (e.g. loan documents, appraisals, etc)
Analyzes financial information including calculation of income and debt ratios, verification of assets, collateral review and credit review.
Analyzes problems and identifies potential or innovative solutions, identifies documentation deficiencies within review and communicates findings
Keep up to date on all credit policy changes that impact underwriting
Displays customer service excellence
Applies relevant technical and computer expertise
Writes effective communications
Achieves work goals for productivity, quality and turn time
Effectively partners with internal and external parties
Demonstrates a determination to get the job done right the first time while ensuring loan decisions meet all program and product specifications
Minimum of 1 year experience as a residential mortgage underwriter or 2 years of mortgage related or processing experience preferred
Knowledge of personal and business financial analysis, tax returns, balance sheet analysis including cash flow and self employment income analysis.
Knowledge of Conventional mortgage underwriting guidelines
Knowledge of Government mortgage underwriting guidelines preferred
Knowledge of Mortgage Insurance policies
Excellent analytical and decision making skills
High school diploma or equivalent required
College degree and/or equivalent work experience preferred
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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