CrossCountry Mortgage (CCM) is one of the nation’s top 3 retail mortgage lenders with more than 7,000 employees operating nearly 600 branches across all 50 states. We have been recognized nine times on the Inc. 5000 list of America’s fastest-growing private businesses and have received countless awards for our standout culture. Through our dedication to getting it done, we make every mortgage feel like a win.
A culture where you can grow! CCM has created an exceptional culture driving employee engagement, exceeding employee expectations, and directly impacting company success. At our core, our entrepreneurial spirit empowers every employee to be who they are to help us move forward together. You’ll get unwavering support from all departments and total transparency from the top down.
CCM offers eligible employees a competitive compensation plan and a robust benefits package, including medical, dental, vision, as well as a 401K. We also offer company-provided short-term disability, an employee assistance program, and a wellness program.
Position Overview:
The Construction Loan Underwriter is responsible for providing consistent, accurate, and quality loan decisions in accordance with CrossCountry Mortgage, LLC. and secondary market investor standards. This position is responsible for evaluating FHA and VA loans to maximize organizational profit and minimize risk or loss and examines loan documentation for accuracy and completeness. The Construction Loan Underwriter will collaborate with loan originators, branch managers, and or production staff to secure all required documents.
The Construction Loan Underwriter is responsible for validating income, asset and collateral documents including self-employed tax returns. The Construction Loan Underwriter may be involved in one or several types of mortgage lending (conventional, government-backed, etc.). Lending authority to include conventional, government, and jumbo loan programs.
Job Responsibilities:
- Evaluates loan applications for risks and various criteria such as investor requirements, accuracy, consistency, and completeness.
- Ability to review Construction-related documents to ensure they meet agency requirements. i.e. Construction contracts, plans and specs, description of materials, etc.
- Review new loan files to ensure the loan meets investor and program criteria. A minimum standard of 60 loans per month and a turn time of 24 hours required.
- Review transmittal & 1003 to make sure it is accurate and complete, compare to findings to verify that all information matches.
- Review credit report and compare liabilities on 1003. Verify the investor guidelines for outstanding derogatory items and requirement payment or satisfaction if needed. Request updated mortgage history if needed.
- Calculate income using documentation required per investor, questioning any large changes in income.
- Review assets statements to compare to required assets. Require documentation and source for any recent large deposits.
- Review title to verify our borrower has ownership on a refinance transaction and that the seller has ownership for purchase transaction. Check that chain of titles meets investor requirements. Verify there are no unpaid liens or judgments and that all mortgage liens are being paid off through the transaction. Compare tax figures to 1003.
- Review appraisal to ensure the value is supported and that the appraiser has provided a complete accurate appraisal. Order value review on loans considered high risk.
- Review file to make sure compliance has been met; regulatory, state compliance and federal (Patriot Act).
- Calculate net tangible benefit for those states that require this test.
- Verify that the rate lock matches the underwriting file with the correct program, LTV, credit score and pre-payment penalty.
- Review final conditions turned in for Underwriting Final Approval within 24 hours.
- Review a minimum number of files per day as assigned by the Underwriting Manager, between 4-8 files per day, to include new submissions, re-submissions & final conditions.
- Maintain current and fluid knowledge of investor and agency guidelines.
- Approves loan with proper documentation or recommends further action.
- Communicates effectively and engages proactively with loan originators, processors, branch managers, funders and post-closers in regard to loan decisions, assignment of loan conditions, investor guidelines/documentation requirements and possible loan scenarios.
- Applies knowledge of underwriting and pre-underwriting to best serve loan applicant and investor needs.
- Performs other related duties as assigned.
Qualifications and Skills:
- Bachelor’s Degree or equivalent combination of education and experience
- Must have 2 years of Construction Lending Underwriting experience.
- 5+ years of Mortgage Underwriting Experience (FHA, VA and Conventional) with strong agency guideline knowledge.
- Conventional Construction, preferred.
- DE, SAR and LAPP certifications are required; experience with USDA, preferred.
- Knowledge of ATR/QM Requirements.
- Encompass LOS experience, preferred.
- Proficient in Microsoft Word, Excel and Outlook.
- Excellent communication skills.
- Knowledge of compliance and disclosure requirements.
- Knowledge of closing, post-closing & quality control responsibilities.
Pay Range:
- $43.26 - 52.88/ hr. Eligible for monthly bonus incentive.
The posted pay range considers a wide range of compensation factors, including candidate background, experience and work location, while also allowing for salary growth within the position.
This job description is intended to convey information essential to understanding the scope of the job and the general nature and level of work performed by job holders within this job. However, this job description is not intended to be an exhaustive list of qualifications, skills, efforts, duties, responsibilities or working conditions associated with the position.
CrossCountry Mortgage, LLC offers MORE than a job, we offer a career. Apply now to begin your path to success! careersatccm.com
CrossCountry Mortgage, LLC strives to provide employees with a robust benefit package: https://mycrosscountrybenefits.com/
California residents: Please see CrossCountry’s privacy statement for information about how CrossCountry collects and uses personal information about California consumers.
CrossCountry Mortgage, LLC. (NMLS3029) is an Equal Opportunity Employer committed to workforce diversity. Qualified applicants will receive consideration without regard to race, religion, creed, color, orientation, gender, age, national origin, veteran status, disability status, marital status, sexual orientation, gender identity, or gender expression, or any other protected status in accordance with all applicable federal, state and local laws. The collective sum of the individual differences, life experiences, knowledge, inventiveness, innovation, self-expression, unique capabilities and talent that our employees invest in their work represents a significant part of not only our culture, but our reputation. The Company is committed to fostering, cultivating and preserving a culture that welcomes diversity and inclusion. Employment is contingent upon successful completion of a background investigation. CrossCountry Mortgage, LLC. is an FHA Approved Lending Institution and is not acting on behalf of or at the direction of HUD/FHA or the Federal government. To verify licensing, please visit www.NMLSConsumerAccess.org.
