Underwriter - Insurance

Job Title : Under Writer

Location State : Maharashtra

Location City : Mumbai

Experience Required : 2 to 12 Year(s)

CTC Range : 8 to 20 LPA

Shift: US Shift

Work Mode: Work from Home

Position Type: Permanent

Openings: 50

Company Name: VARITE INDIA PRIVATE LIMITED

About The Client: The Client is an American-owned company based in the US with offices in India and the Philippines. A tech-forward outsourcing company specializing in supporting the US mortgage, insurance, and banking industries.

About The Job:

Please share below information in numeric value:

- Relevant Experience in US Mortgage

- Relevant Experience in Residential Underwriter

- Relevant Experience in Live Underwriter

- Relevant Experience in Post Closing Underwriter

- Relevant Experience in 4 cs

About The Job: The Conventional Underwriter reviews, conditions and underwrites mortgage loans in accordance with established policies and procedures and appropriate guidelines; examines all documentation for accuracy and completeness.

Essential Job Functions:

Roles and Responsibilities:

- Review and analyse the mortgage loan application to ensure eligibility, accuracy, completeness, and compliance with internal and regulatory guidelines to minimize risk factors.

- Review all required loan data, reports, and inspections to insure the collateral is acceptable to investor and the company.

- Knowledge of Lending & Underwriting Guidelines | Credit & Income Analysis | Cash Flow Analysis |

- Risk Assessment | Loan-to-Value Ratios | Debt-to-Income Ratios

- Review Initial application - Verify loan, property, borrowers information with other available documents - Verify borrower's monthly income and expenses - Verify other relevant sections.

- Review all the documents related to borrowers Credit, Capacity, Collateral and Capital.

- Calculate asset required for closing and reserve purpose for the transaction (as per guideline)

- Responsible for making independent decisions regarding acceptance and risk of loans according to HUD, company, and investor guidelines.

- Provides final approval underwriting of mortgage loans.

- Completes all required paperwork and forms in a timely and accurate manner; prepares required forms.

- Sign off conditions in a timely manner set by management.

- Work with staff and management to find solutions on escalated loans.

- May be requested to make recommendations for improving Internal Audits policies and practices.

- Manage loans by using all functions of Encompass.

- Effectively communicate underwriting decisions with processors and advisors

- Maintain high level of customer service and communication with other departments. Other duties as assigned.

Essential Job Functions :

Key Required Skills :

- Excellent at Income Calculation and Debt-to-Income (DTI) Ratio Calculation.

- Expertise in 4C's framework (Credit, Capacity, Collateral and Capital),

- Familiar in Credit report Analysis & LOX (Letter of Explanation).

- Knowledge on Credit Bureau, Documents to approve the loan, Familiar with different account types.

Qualifications:

- Degree or Equivalent

- Minimum 2 years of experience in conventional/govt end to end underwriting.

- Minimum 2 years of experience in Live Underwriting, Residential, US Mortgage.

- Well-versed with all 4Cs of Underwriting (Asset, Income, Credit and Collateral)

- US Mortgage Process (Only Night Shifts)

How to Apply: Interested candidates are invited to submit their resume using the apply online button on this job post.

About VARITE: VARITE is a global staffing and IT consulting company providing technical consulting and team augmentation services to Fortune 500 Companies in USA, UK, CANADA and INDIA. VARITE is currently a primary and direct vendor to the leading corporations in the verticals of Networking, Cloud Infrastructure, Hardware and Software, Digital Marketing and Media Solutions, Clinical Diagnostics, Utilities, Gaming and Entertainment, and Financial Services.

Equal Opportunity Employer: VARITE is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees. We do not discriminate on the basis of race, color, religion, sex, sexual orientation, gender identity or expression, national origin, age, marital status, veteran status, or disability status.

Unlock Rewards: Refer Candidates and Earn.

If you're not available or interested in this opportunity, please pass this along to anyone in your network who might be a good fit and interested in our open positions. VARITE offers a Candidate Referral program, where you'll receive a one-time referral bonus based on the following scale if the referred candidate completes a three-month assignment with VARITE.

Exp Req - Referral Bonus

0 - 2 Yrs. - INR 5,000

2 - 6 Yrs. - INR 7,500

6 + Yrs. - INR 10,000