CognizantSenior Consultant
Aug. 2016 - Jan. 2018Mumbai, Maharashtra, India · On-site𝑲𝒆𝒚 𝑹𝒆𝒔𝒑𝒐𝒏𝒔𝒊𝒃𝒊𝒍𝒊𝒕𝒊𝒆𝒔 -
❖ Provided specific subject matter expertise to mortgage operations staff regarding underwriting guidelines and product offerings. Served as Underwriter in Caliber Project Dealing in US Mortgage Banking Industry including FHA Mortgage, Conventional & Reverse Mortgage.
❖ Audited files already underwritten by defining the credit risk, potential fraud, miscalculations and misrepresentations.
❖ Performed many aspects of financial analysis and loan structuring ; including risk assessment, projections and sensitivity analysis, industry and management assessments, and completion of Credit Approval Documents.
❖ Analyzed income & employment, credit strength, property appraisal; check over debt to income (DTI) and Loan to Value (LTV) and all other information pertinent to the credit decision process on each mortgage application, as presented by the applicant along with closing documents.
❖ Validated that a prospective mortgagor loan application adheres to the lenders, Investors (Freddie or Fannie Maes), and guidelines of applicable government agencies to approve the loan. Well versed with FHA and VA guidelines as well.
❖ Strong understanding of Desktop Underwriter (DU) and Loan Prospector(LP).
❖ Verified accuracy of supporting employment documents, source of down payment/reserves, appraisal value and property title commitment received.
❖ Reviewed legal documents to ensure the accuracy & completeness and identified the mortgage insurance requirement (MI) and followed the MI guidelines, if applicable.
❖ Acted as liaison for all audit issues and requests (both internal and external audits/exams) related to Underwriting. Provided comprehensive feedback loop to management for instruction of processing and underwriting staff to eliminate detected errors and improve quality.