SCOPE OF WORK FOR LIVE UNDERWRITER ROLE
• Loan Application Review & Credit Assessment:
Review and analyze loan applications and supporting documentation including income, credit reports, employment history, and property details. Assess borrower creditworthiness using the 4 C's methodology (Character, Capacity, Capital, Collateral) to ensure sound lending decisions and adherence to underwriting guidelines.
• Income Calculation & Financial Analysis:
Evaluate and calculate borrower income from various sources including salaried, hourly, commission, bonus, rental, and self-employment income. Analyze documents such as paystubs, W-2s, tax returns, and business financials (Schedule C, K-1, 1065, 1120S) to determine qualifying income accurately and consistently.
• Collateral & Property Evaluation:
Review appraisal reports, AVMs, and residential valuation documents to validate property value and ensure compliance with lending guidelines. Analyze title reports, lien positions, and ownership details to mitigate collateral risk.
• Underwriting Decision & Documentation:
Prepare detailed underwriting summaries, identify red flags, and document conditions and stipulations within the Loan Origination System (LOS), preferably Encompass. Recommend appropriate loan structures based on comprehensive risk assessment and borrower profile analysis.
• Workflow Management & Communication:
Collaborate with processors and internal stakeholders throughout the underwriting lifecycle. Provide clear communication on loan decisions, required conditions, and final clear-to-close (CTC) status to ensure timely loan progression.
• Risk Identification & Compliance:
Identify discrepancies, inconsistencies, and potential risks in loan files. Ensure all underwriting decisions comply with internal policies, regulatory requirements, and industry standards.
• Reporting & Reconciliation:
Handle reconciliation of complex borrower accounts and prepare daily aging and pipeline reports to track loan progress, turnaround times, and portfolio performance metrics.
• System Utilization & Process Adherence:
Utilize LOS platforms (Encompass preferred) and adhere to underwriting workflows, ensuring accuracy, efficiency, and compliance with company standards and best practices.
• Quality Assurance & File Review:
Conduct quality reviews of underwriting files to ensure accuracy, completeness, and compliance. Identify process improvements and provide feedback to maintain high standards across the underwriting team.
• Exception Handling & Escalation Management:
Manage complex loan scenarios and exceptions that fall outside standard underwriting guidelines. Escalate issues appropriately and provide recommendations for resolution while maintaining compliance and risk mitigation.
• Mentoring & Team Support:
Provide guidance and support to junior underwriting team members. Share knowledge on complex underwriting scenarios, best practices, and regulatory requirements to foster team development and consistency.
• Borrower & Stakeholder Communication:
Communicate directly with borrowers, loan officers, and other stakeholders regarding underwriting requirements, conditions, and loan status. Maintain professional relationships while ensuring clear expectations and timely updates.
• Regulatory Compliance & Training Adherence:
Stay current with regulatory changes, lending guidelines, and compliance requirements. Participate in training programs and ensure adherence to all applicable federal, state, and local lending regulations.
JOB DETAILS
Company: Sutherland
Location: Navi Mumbai (Work From Home)
Experience: 2–3 Years (Live Underwriting Mandatory)
Shift: US Shift (6:30 PM – 6:30 AM | Any 9 Hours)
Week Offs: Rotational Weekly Offs
Employment Type: Full-Time
Notice Period: Immediate Joiners Preferred
REQUIRED QUALIFICATIONS & SKILLS
- HSC and Bachelor's Degree (Mandatory)
- 2–3 years of live underwriting experience in mortgage or lending industry
- Strong understanding of the 4 C's of Credit (Character, Capacity, Capital, Collateral)
- Expertise in income calculation and financial analysis, including self-employed borrowers and multiple income sources
- Proficiency with Loan Origination System (LOS) platforms, preferably Encompass
- Comprehensive knowledge of underwriting guidelines, lending regulations, and compliance requirements
- Strong analytical and decision-making skills with ability to identify risks and discrepancies
- Excellent verbal and written communication skills for stakeholder engagement
- Demonstrated ability to work in a fast-paced, deadline-driven environment while maintaining accuracy
- Proficiency in collateral and property valuation assessment
- Strong attention to detail and quality assurance mindset
- Ability to mentor and support junior team members
PREFERRED QUALIFICATIONS
- Certification in mortgage underwriting or credit analysis
- Experience with complex loan scenarios and exception handling
- Knowledge of federal, state, and local lending regulations (FNMA, FHLMC, FHA guidelines)