Associate / Sr Associate  - Mortgage

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, India and Mexico. 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: Associate / Sr Associate  - Mortgage

Job Type: Full Time

Grade: H2

Function/Department: Mortgage Processing

Reporting to: Team Lead

Role Description: Associate / Sr Associate  - Mortgage is responsible 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 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

• Play a pivotal role in the underwriting process, assessing the 4C’s (Credit, Capacity, Capital, and Collateral) documentation to determine loan eligibility in accordance with Fannie/Freddie and specific client protocols.
• For Credit assessment, scrutinized Credit Reports for Borrower identification, SSN validation, Credit Score, Public Records, recent Inquiries, Address Consistency within the last 24 months, and Additional SSN verification. Reviewed liabilities, checking for any mortgage delinquencies within the past 12 months.
• Evaluated Capacity to repay, analyzing Salaried, Self-Employment, and Other income sources. Salaried income computed from Paystubs, W-2, and Employment verification; Self-Employment income derived from Tax Returns (1040); Other income assessed through supporting documents.
• Assessed Capital, gauging the Borrower's overall financial robustness by verifying asset statements and calculating assets.
• Reviewed Collateral by examining appraisal reports to finalize the decision-making process.

Expected/Key Results

• Consistently ensure exceptional CSAT scores and other customer satisfaction indicators
• Maintain strict adherence to regulatory compliance standards and strive to attain exemplary quality scores.
• Consistently meet and exceed process-specific metrics while ensuring compliance with SOPs
• Adhere to schedules diligently to meet operational timelines effectively
• Follow through with the Individual Development Plan

Preferred Educational Qualifications               

• HSC Mandatory
• Any graduation

Preferred Work Experience

• Minimum of 6 months to 2 year of work experience in US Mortgage Core Underwriting

Competencies & Skills

• Fundamental understanding of the Loan Origination Cycle.
• Familiarity with various mortgage types and their operational mechanisms, including the documentation needed for Underwriting.
• Effective written and verbal communication skills for comprehending and updating comments, as well as engaging with diverse stakeholders.
• Robust Customer Service aptitude, coupled with a keen eye for detail and strong analytical capabilities, enabling informed decision-making.
• Proficiency in computer usage, encompassing working proficiency in MS Word, MS Excel, and PowerPoint