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Residential Mortgage Underwriter

Salary: up to £25,000

Salary type: Dependent upon experience

Location: Homer Road, Solihull

Business area: Paragon Bank

Date posted: 2017-06-28

Brief description

Do you currently, or have you recently worked in a regulated residential mortgage environment? We’re looking for someone with previous underwriting experience and an understanding of the mortgage lifecycle to join our expanding banking division as a Residential Mortgage Underwriter.

Purpose of the role

You will be responsible for assessing, analysing and underwriting complex MCOB regulated mortgage applications and requests for decisions in principle. Dealing with complex Mortgage Intermediary and Regional Manager enquiries and making decisions or recommendations in line with regulatory requirements and the Bank’s appetite for risk and credit policy.

Duties & responsibilities

  • Review and assess new mortgage enquiries, prepare detailed risk analysis and provide accurate Decisions in Principle within agreed SLAs
  • Communicate directly with Mortgage Intermediaries and customers regarding underwriting decisions, supporting evidence required and case updates
  • Assess, analyse and collate all documents to evidence willingness, ability to pay and that overall risk meets policy and regulatory guidelines
  • Analysis and assessment of pre-completion documents, review and assessment of valuation reports and undertaking of KYC verification, DPA and ML checks

Skills

  • A clear understanding of the mortgage lifecycle and customer journey
  • The ability to make a sound judgment regarding; individual applications, the essence of individual underwriting loans within credit policy, lending guidelines and industry regulatory/compliance requirements
  • Ability to assess and apply sound risk assessment to each stage of the application process
  • Experience of assessing personal and company credit searches and credit scoring, bank statements and company accounts assessment and valuation reports

Qualifications and experience

Previous experience in this type of role and recent experience in a regulated residential mortgage environment is essential. Must currently hold/have held an underwriting mandate that includes approval of self employed customers.

CeMAP desired but not essential, however, the successful candidate will be expected to complete their CeMAP qualification within 12 months of starting in the role.

Working hours

37.5 hours per week, Monday to Friday, 8.30am to 5.00pm (one hour for lunch).

Training

Relevant training will be provided.

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