For this group, they are hiring Frontline Conventional Underwriters, but they are going to put them through a 6-week training program to pass their DE Certification and become a DE Underwriter.
• Base Salary is at $85K/year.
• $5k salary increase once they pass their DE Cert so they make $90K.
• $10K sign-on bonus- half paid after 30 days and another half after 90 days.
• They're currently also paying ALL underwriters a minimum of $5K retention bonus per quarter.
They really only need 3 years of experience. And the ability to be trained to get a DE is a very valuable benefit and one that does not come around very often. So hopefully candidates will think long term and understand how this will be a huge benefit to their career. But in this crazy market, I can see a good number of people requiring more of a base salary to accept a new offer.
Experience Requirements to become a DE Underwriter:
• Minimum of 3 years of full-time experience reviewing Credit Applications and 1 to 4 unit property appraisals within the past 5 years.
• Minimum of 2 years of full-time experience reviewing Credit applications and 1 to 4 unit property appraisals within the past 3 years. Combined with an additional three years of such experience over the past 10 years.
• Be a full-time employee with only 1 Mortgagee (Some candidates try to work 2 jobs)
• Be authorized to bind the mortgagee in matters involving origination of mortgages
General Job Description Requirements
• Must take and pass an assessment with a score of 90%+
• Appraisal review and tax return analysis skills required (front line)
• Experience reading and interpreting AUS (DU/LPA)
• Prior credit signing authority
• Understanding of TILA, RESPA and Predatory Lending
• Strong analytical and decision making/problem-solving skills
• Possess a keen eye for accuracy, attention to detail and ability to handle a high volume workload
• Proficient in computers including LOS systems, Microsoft Office and Excel.
• Ability to adapt/ learn/utilize multiple software programs.
• Experience with paperless environment preferred.
• Required to support and work across all business channels in Underwriting (Retail/CC/Wholesale) as needed
• Division assignment will be determined at time of FHA credentials being issued.
• Clear CAIVRS (must check as part of BG process – see slide detailing info in CAVIRS)
Recruiter Payout depends on the offered salary and ranges between $1600 - $2700