Senior Analyst - Underwriting

About Firstsource: Firstsource Solutions is a leading provider of customized Business Process Management (BPM) services. Firstsource specialises in helping customers stay ahead of the curve through transformational solutions to reimagine business processes and deliver increased efficiency, deeper insights, and superior outcomes. We are trusted brand custodians and long-term partners to 100+ leading brands with presence in the US, UK, Philippines, Mexico and India. Our ‘rightshore’ delivery model offers solutions covering complete customer lifecycle across Healthcare, Telecommunications & Media and Banking, Financial Services & Insurance verticals. Our clientele includes Fortune 500 and FTSE 100 companies.
Job Title: Analyst/Sr. Analyst – Mortgage Processing - UNDERWRITING
Grade: H1/H2 Job Category: Analyst/Sr. Analyst Function/Department: Operations
Reporting to: Team Leader
Role Description: Ability to perform the Quality Check on the Origination Underwriting process with effective sampling methods to check the quality of production and identify areas of improvement.
Roles & Responsibilities (Indicative not exhaustive)
Performed a key role in underwriting, reviewed 4C’s of Underwriting (Credit, Capacity, Capital and Collateral) documents to take decision on the loan whether the borrower is eligible for a loan or not, as per Fannie/Freddie & respective client guidelines.
Credit - In Credit report, we verify Borrower Name, SSN, Credit Score, Public records, Inquiries, Address Discrepancy within last 24 Months and Additional SSN. Reconcile the liabilities from the Credit report and verify any mortgage late within 12 months. Capacity – Ability to re-pay. We calculate Salaried, Self-employment and Other income. Salaried income will be calculated from Pay stub, W-2 and verification of Employment. Self-Employment income will be calculated from Tax returns (1040). Other income will be calculated from supporting documents. Capital – Overall financial strength of a Borrower. Here we verify the asset statements of the borrower and calculate the asset. Collateral - We will review the appraisal report and we will make Decision - Finally, based on 4 C’s, we recommend a decision to our client.
Key Results
• External Performance Measurements- ask relevant external groups to evaluate various program activities – usually through surveys of individuals within these groups – related to the services they have experienced.
• Internal Performance Measurements- used to assess and monitor the internal operation of an organization.
Role Holder Profile
A. Preferred educational qualifications: Minimum HSC (12th) passed, Any Graduation
B. Preferred work experience: Minimum of 6 months to 2 year of work experience in US Mortgage Core Underwriting
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B. Skills and Competencies:
• Basic Knowledge of Loan Origination Cycle
• Basic knowledge of different types of mortgages and its functioning, documents involved in Underwriting
• Good communication skills (Written and Verbal) are required to understand and update comments and communicate with various stake holders.
• Strong Customer Service Skills, Detail Oriented with good analytical skills and have the ability to make decisions based on the situation.
• Should be able to effectively use a computer and have working knowledge of MS Word, MS Excel and PowerPoint
D. Corporate Value Must demonstrate Firstsource values – REACCH that acts as our north star, helping us achieve our goals in a uber competitive, digital-first world while meeting customer and investor demands for social responsibility.
Risk-Taking Dare to go beyond Challenge status quo every day. Be strategic. Be ambitious. Be resilient. Execution Excellence Strive to be the best Collaborate, co-create and drive excellence. Agility Move ahead of time quickly Stay nimble, adapt fast and learn constantly with a ‘Digital First’ mindset. Customer First Keep customers at the heart of every action. Credibility Instill trust, confidence and accountability Seek answers rooted in ‘what's right’ and not ‘who's right’. Humaneness Be fair, respectful, transparent and sensitive Care for your community; act responsibly towards environment.