Post-Closing Underwriter

Post-Closing Underwriter

Job Description

I. OVERVIEW:

Under the direction of the Post-Closing Manager, the Purchase Clearing Underwriter is responsible for reviewing closed mortgage loans, analyzing investor purchase conditions, and resolving underwriting-related deficiencies to facilitate the timely purchase of loans by designated investors. This position applies advanced knowledge of conventional and government lending guidelines to independently evaluate loan documenta on, respond to investor suspense conditions, and determine appropriate corrective action. The Purchase Clearing Underwriter works closely with investors, Post-Closing, Underwriting, Closing, Funding, and branch personnel to resolve complex loan-level issues while protecting loan quality, compliance, and salability.

II. EXPECTATIONS:

• Reviews investor loan deficiencies, purchase suspense conditions, and potential loan declinations to determine the appropriate resolution.
• Independently analyzes closed loan files using processing, underwriting, closing, and post- closing expertise to cure deficiencies whenever possible without involving the originating underwriter, branch, or borrower.
• Applies FNMA, FHLMC, FHA, VA, investor, and company guidelines to evaluate loan eligibility, documenta on, and salability.
• Provides clear and well-supported documentation to dispute or refute invalid investor deficiencies, conditions, or declinations.
• Performs underwriting-level analysis of credit, income, assets, liabilities, collateral, occupancy, and loan program eligibility when required to resolve purchase conditions.
• Reviews loan documentation for consistency with the original underwriting decision, automated underwriting findings, investor requirements, and applicable agency guidelines.
• Identifies material discrepancies, credit-related concerns, compliance issues, or documentation gaps and determines whether additional review or escalation is necessary.
• Communicates directly with investors regarding underwriting conditions, guideline interpretations, loan eligibility, and supporting documentation.
• Coordinates with Post-Closing, Underwriting, Closing, Funding, Processing, and branch personnel to obtain documentation or corrective action needed to complete the loan purchase.
• Follows up on outstanding purchase conditions and ensures requested documentation is submitted to the investor accurately and promptly.
• Reviews final Closing Disclosures and settlement statements for accuracy and compliance and works with the appropriate department to resolve tolerance or documentation issues.
• Reviews the investor loan pipeline daily to ensure suspense conditions and purchase requirements are addressed within established turn times.
• Confirms that loan data in Encompass is consistent with automated underwriting findings, closing documentation, Uniform Loan Delivery Dataset requirements, and investor delivery data.
• Ensures all investor correspondence, underwriting analyses, supporting documentation, and loan-clearance items are accurately maintained in Encompass.
• Escalates significant loan defects, potential repurchase exposure, fraud concerns, compliance issues, or unresolved investor disputes to management.
• Maintains accurate records and clear documentation supporting all underwriting conclusions and purchase-clearing decisions.
• Meets established productivity, quality, and investor purchase-turn-time standards.
• Performs other duties as assigned.

III. REQUIRED EXPERIENCE & KNOWLEDGE:

• High school diploma or equivalent required; bachelor’s degree preferred.
• Minimum of three years of residential mortgage underwriting experience required.
• Previous post-closing, investor suspense, purchase clearing, or loan delivery experience strongly preferred.
• Demonstrated underwriting experience with conventional, FHA, and VA mortgage loans required.
• Strong working knowledge of FNMA, FHLMC, FHA, VA, investor, and secondary-market guidelines.
• Experience reviewing credit, income, assets, liabilities, collateral, and automated underwriting findings.
• Thorough understanding of mortgage closing documentation, purchase conditions, investor delivery requirements, and post-closing processes.
• Experience using Encompass, Meridian Link, Blue Sage or a comparable loan origination system preferred.
• Excellent analytical skills with the ability to research guidelines, interpret investor requirements, and make sound underwriting decisions.
• Strong attention to detail and the ability to recognize inconsistencies, documentation deficiencies, and potential loan-quality concerns.
• Proficiency with word-processing, spreadsheet, and mortgage technology applications.

DISCLAIMER: The statements above are intended to describe the general nature and level of work performed by individuals assigned to this position. They are not intended to represent an exhaustive list of all responsibilities, duties, qualifications, or skills required. Responsibilities and requirements may be modified at the discretion of the company.