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Location: Bangalore, KA, India
Job ID: 1000936
The primary responsibility of the Underwriter is to review Loss Mitigation applications that were received from the customer for various workout options. This position entails significant data entry into multiple software applications. Underwriters are required to review borrower applications for assistance for regulatory and investor compliance and are expected to keep abreast of changes that would affect the requests made of our customers. Underwriters work daily reports and assignments to determine the qualification of the customer for all Loss Mitigation retention assistance.
Essential Functions & Responsibilities
· Maintain a working knowledge of all current underwriting guidelines, federal and state laws and guidelines
· Interpret credit policy and investor guidelines and apply them to specific loans
· Review income and other financial documents in the loan file once received from the imaging team.
· Review loan file for compliance and defined guidelines, policies and procedures
· Underwrite loans from an income and credit standpoint on a daily basis and note any underwriting exceptions. Assess risk and review for fraud
· Effectively communicate any areas of concern with a loan file to supervisors
· Update applicable system with borrower information based on package submitted by borrower (Black Knight - MSP, Back in the Black, etc.)
· Review borrower submitted applications for workout consideration
· Reduce the potential loss to Ocwen, Investors, and Mortgage Insurers by successfully mitigating non-performing loans.
· Order credit bureau reports, AVM/BPO/Appraisals
· Compile and maintain homeowner financial packages
· Follow all CFPB compliance guidelines
· Communicate effectively with team players in other areas
· Various other duties as assigned
Key Result Areas:
· Meet or exceed productivity and quality standard for new loan files audited per day.
· Ensure 100% adherence to timelines
· 100% accuracy with finding defects and errors on files audited.
• High School diploma or equivalent is required
• Bachelor’s degree preferred
• 1 year of clerical/administrative experience required
• 1-2 years of default or processing experience preferred.
• Minimum of one year of mortgage or banking experience.
Knowledge, Skills & Abilities
• Familiarity with US mortgage products and guidelines.
•Excellent written and verbal communication skills
• Ability to work collaboratively with internal employees and customer to solve problems and address underlying needs
• Must be able to work independently with minimum supervision in a high volume area.
• Ability to manage multiple priorities in a timely manner
• Rapidly adapts to changing information, conditions and/or unexpected obstacles
• Excellent organizational/time management skills along with great attention to detail
• Excellent analytical skills
• Behaves as a Leadership Role Model
• Builds Strong Working Relationships
• Drives and Delivers Exceptional Results
• Customer/External Focus
• Builds and Motivates a High Performing Team (people leaders only)
• Proficient with Microsoft Office products (e.g. Word, Excel, Outlook, Powerpoint, etc.)
• Proficiency with Mortgage Servicing Platforms (e.g. Black Knight, LPS, etc.) preferred