Underwriter

Be part of a team that's committed to making a difference. We believe in our work and our customers.

Position Location

Remote Type

Remote

Office Location (if not fully remote):

n/a

Job Description

Essential Job Functions:

• Underwriting:
  • Analyze and validate initial submission, suspended and condition files, and all associated documentation submitted by branch personnel to evaluate credit risk and ensure accuracy and compliance with company and investor guidelines. Including, but not limited to:
  • Analyze and review borrower-related documents, including, but not limited to, the Loan Application, FIMC fraud tool, Divorce Decree, Child Support Agreements, and non-U.S. citizen Residency documentation.
  • Analyze credit reports and related documentation such as supplements, bankruptcy documents, liens, judgments, foreclosures, pay-off statements, credit reports, student loan validation, verifications, and other associated documentation.
  • Analyze, validate, and calculate to support a stable and sustainable income figure based on income documentation, including, but not limited to, pay stubs, verifications of employment, tax returns, lease agreements, SS Awards Letters, etc.
  • Analyze and review all asset documentation, including but not limited to bank statements, verifications of deposits, retirement accounts, second lien documentation, gift letters, etc. Review for possible undisclosed debt, as well as sourcing payroll deposits, per guidelines.
  • Calculation and validation of cash required to close and reserve requirements, along with minimum required investment, per investor guidelines.
  • Review and analyze sales contracts, addendums, and appraisals, along with all collateral-related documentation to ensure the subject property meets guidelines and represents valid security for loan approval.
  • Analyze and validate the title commitment, ownership, vesting, property address, insurance requirements, property tax obligations, payoff statements, etc. to ensure the loan is in the first lien position and meets all investor requirements.
• Loan Reconciliation:
  • Validating and reconciling all loan terms, including but not limited to DTI, LTV/CLTV, and completeness of application data with the final reconciliation of the URLA, loan data, LOS, and AUS, by completing a final AUS submission, and utilizing the UW Comparison tool.
  • Compare and validate document expiration dates based on the Closing Dates to ensure documents meet “age of documentation” requirements at the time of closing.
  • Evaluate and finalize the loan by executing all reconciliation tools, including, ATR/QM, Early Check, LQA, and Underwriting Comparison, to ensure the loan meets all compliance and investor requirements.
  • Finalize Loan Approval, add all Closing/Funding conditions, and complete all final approval documents and signature requirements to ensure the final risk decision is documented according to investor guidelines.
• Additional Support:
  • Communicates regularly with loan originators, management, and processors and responds to questions promptly.
  • Collaborates with Closing, Funding, Delivery, Post-Closing, Quality Control, and Compliance teams to resolve issues, assess risks, and ensure compliance.
  • Develops and maintains an up-to-date and sound knowledge of multiple loan product guidelines offered by the company, and MI requirements per DU/LP guidelines.
  • Ensures a consistent and proactive approach to condition clearing to increase pull-through percentage and decrease overall cycle time.
  • Maintains a sound knowledge of secondary market activity, practices, and business/industry practices as they impact underwriting quality and origination activity
  • Maintains acceptable SLAs for Initial Submissions, Conditions, and Clear to Close reviews.
  • Maintain a productivity level as determined by the Underwriting Manager.

Non-Essential Job Functions:
Participates in proactive team efforts to achieve departmental and company goals.
Contributes to a positive work environment by demonstrating cultural expectations and influencing others to reward performance and value "can do" people, accountability, diversity and inclusion, flexibility, continuous improvement, collaboration, creativity and fun.

• Adopts Fairway values in personal work behaviors, decision making, contributions and interpersonal interactions.
• Performs other duties as assigned.

Required Experience:

• 5+ years of related experience.
• Demonstrated experience working in a fast paced and changing environment.
• Demonstrated experience analyzing and interpreting data.
• Demonstrated experience producing accurate and detailed work on multiple projects under time pressure.
• Demonstrated experience researching information, problem solving and making solid business decisions.
• Demonstrated experience effectively managing relationships with internal and external partners.

• 5+ years residential loan underwriting experience.
• Demonstrated experience underwriting FHA and VA residential mortgage loans.
• Demonstrated experience with Encompass.
• Demonstrated experience working with Fannie Mae Desktop Underwriter and Freddie Mac Loan Prospector.
• Demonstrated experience with repurchase response and/or rebuttal review and response preparation.
• Demonstrated experience working with Mortgage Brokers

Required Knowledge and Skills:

• Solid knowledge and understanding of current business acumen.
• Solid knowledge and understanding of customer service and intrapersonal best practices.
• Solid knowledge and understanding of desktop underwriting programs.
• Solid knowledge and understanding of federal and state mortgage servicing requirements, standards and processes.
• Solid knowledge and understanding of Encompass.

• Solid knowledge and understanding of FHA\VA\USDA, FNMA and FHLMC policies and guidelines.
• Solid knowledge and understanding of mortgage loan processing, compliance, investor products and underwriting guidelines.
• Solid knowledge and understanding of mortgage insurance (MI) guidelines.
• Solid knowledge and understanding of various fraud tools.
• Solid knowledge and understanding of processing and closing functions and a general understanding of the entire real estate lending process.
• Solid knowledge and understanding of Investor, FHA and Fannie Mae guidelines.

Minimum Education Preferred:

• 2 Year / Associate Degree

• Associate degree or equivalent work experience
• DE, VA SAR, VA LAPP, USDA Certifications.

Physical Environment:

• This position is primarily a remote position. Access to a quiet space at home and reliable internet is required.
• This position involves extended periods of time sitting at a computer in a desk.

Travel:
Local travel may be required for company or career-related meetings, programs and/or events.

Fairway Home Mortgage, founded in 1996, is a nationwide leader in the mortgage industry. Customer service is at the heart of everything we do. We deliver personalized loan solutions with some of the fastest turn times in the industry. Our mission is to act as trusted advisors, guiding clients through every step of the mortgage process to exceed expectations and ensure satisfaction.

Our culture promotes innovation, growth, and collaboration, offering exciting career paths and professional development. Whether you're starting out or advancing your career, Fairway is a place where your skills and ambitions can thrive.

Current Employees: Head to the Fairway Careers Hub in Workday for internal job openings.

We post some job openings internally for our employees and others externally for the general public. If you cannot find the perfect role right now, do not hesitate to contact the Careers Team at careers@fairwaymc.com. We can answer any questions and keep you updated on future opportunities.

View our E-Verify and Right to Work notices HERE.

Important Notice to Job Seekers! We’ve been made aware of fraudulent messages falsely claiming to be from Fairway recruiters, including links to assessments. These are not legitimate and are not affiliated with Fairway Independent Mortgage Corporation. We’re working with our Information Security team to address this issue. Thank you for your vigilance and continued interest in joining Fairway! All official communication will come from verified Fairway email addresses or our official LinkedIn page. If you receive a suspicious message, please do not click any links and notify us.

About Us

At Fairway Independent Mortgage Corporation, we’ve been committed to delivering exceptional service and fostering a culture of growth and collaboration since our founding in April 1996. We strive to make a meaningful impact in the communities we serve by living out our core values daily.

Explore rewarding career opportunities at Fairway, from branch-based roles to corporate support positions. Join a team dedicated to helping others and achieving success together.