Rapid Mortgage Company
Position: DE/SAR Underwriter
Rapid Mortgage Company a leading financial services company dedicated to providing exceptional lending solutions to our clients. We are seeking a detail-oriented and experienced Mortgage Underwriter to join our team. This role is crucial in evaluating mortgage loan applications and ensuring compliance with company policies and government regulations.
Job Summary:
As a Mortgage Underwriter, you will be responsible for reviewing, analyzing, and making loan approval decisions on residential mortgage loan applications. You will evaluate an applicant’s financial status, creditworthiness, property evaluations, and other factors to determine the risk of granting a loan. This role requires an in-depth knowledge of loan programs, guidelines, and regulatory requirements.
Key Responsibilities:
- Review and analyze mortgage loan applications, including income, credit, asset documents, and property appraisals.
- Make underwriting decisions in compliance with established guidelines for FHA, VA, USDA, and Conventional loan programs.
- Ensure all loan files meet internal, investor, and regulatory requirements.
- Analyze complex financial and credit data to evaluate an applicant's ability to repay.
- Identify and request additional documentation as needed for proper loan evaluation.
- Determine the conditions that need to be met for loan approval or recommend loan declinations.
- Perform manual underwriting for cases that do not meet automated underwriting systems (AUS) approvals.
- Assess self-employed income and tax returns, including reviewing K1s, Schedule C, and 1099 forms.
- Conduct liquidity tests and large deposit reviews for loan eligibility.
- Work with loan processors, loan officers, and other internal teams to ensure smooth processing of mortgage files.
- Stay updated on changes to loan products, underwriting guidelines, and compliance regulations.
Qualifications:
- Minimum 3+ years of mortgage underwriting experience.
- In-depth knowledge of FHA, VA, USDA, and Conventional loan guidelines.
- Experience with manual underwriting and analyzing complex tax returns (K1s, Schedule C, etc.).
- Proficiency in reviewing appraisals, income, and asset documents.
- Familiarity with Automated Underwriting Systems (AUS), including DU and LP.
- Strong attention to detail and analytical skills.
- Ability to work efficiently in a fast-paced environment.
- Excellent communication skills, both written and verbal.
- Certification in mortgage underwriting (DE, SAR/LAPP, etc.). DE or SAR is required.
Working Hours:
Must be available between the hours 8-6 EST.
Benefits:
- Competitive salary
- Health, dental, and vision insurance
- Life insurance and LTD
- Retirement plan
- Paid time off and holidays
- Opportunities for career development and advancement
Must-Have Qualifications:
- Must have recent underwriting experience, with no more than one year gap since the last underwriting role.
- One of the following delegations is required: VA SAR or DE. Both delegations are preferred, but one is mandatory.
- DPA experience.
- Encompass experience is required.
- Resumes or appllications must include salary requirements to be considered.
What We Do
Rapid Mortgage is relationship-based mortgage lender. For us, mortgage lending is about building and maintaining life-long relationships with our clients and partners. We understand our clients and partners are real people with real concerns; so, we make sure every person involved in getting your loan closed is available to speak with you.
We offer competitive rates in a wide range of loan products including Conventional, FHA, VA and USDA Rural Development. Whether you are a first-time homebuyer, a seasoned veteran, have A+ credit, or are in need of credit assistance, we have programs designed specifically for you. Our hands on approach, personal dedication, and understanding show you are more than just a transaction.
OUR GOAL
Treat every relationship with the level of care and sense of urgency that it deserves. Always committed to the growth of our partners and the satisfaction of our clients knowing our business grows through them.
