Should be aware of 4 cs of Underwriting (Credit, Capacity, Collateral & Capital)
Should be well versed with Investor Guidelines (FNMA, FHLMC & GNMA)
Should know how to calculate and derive income per Income documents as per pay frequency (Daily, Weekly, Bi-Weekly, and Bi-Monthly/Semi S Monthly).
Income document requirements for different types of income(Salaried, Self-Employed & Other types of income)
Should have knowledge to review Asset documents, Credit Report, Investor guidelines, Fraud Alerts, Public records, Judgements & Liens.
Have Knowledge of Appraisal Report, Appraisal Management guidelines (differs per lenders), Appraisal form types basis type of property (1004, 1073, 1025 etc.), Condo & PUD property requirements.
Should know to calculate Qualifying ratios (Debt-to-income & Frontend ratio)
Should know to review AUS findings and meet or clear the AUS findings requirements or Potential Alerts.
Should know to review other critical documents like (Sales Contract, Insurance docs & Tax docs)
Should investor guidelines.
Job Classification
Industry: BPM / BPOFunctional Area / Department: BFSI, Investments & TradingRole Category: Banking OperationsRole: Back Office ExecutiveEmployement Type: Full time