Loan broker vs consumer loan underwriter

Differences between loan broker and consumer loan underwriter duties and responsibilities

Loan broker example responsibilities.

• Supervise and manage the processing staff and also underwrite conventional loans for correspondent lenders.
• Prepare loan packages for submittal to SBA.
• Quoted rates for various scenarios, and lock FHA and VA loans.
• Engage in full spectrum of commercial lending SBA, conventional and non-conventional.
• Originate full line of mortgage products including conforming, non-conforming, FHA and VA.
• Interview prospective lenders to for additional services; significantly expand company lender sources in both purchase and refinance markets.
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Consumer loan underwriter example responsibilities.

• Ensure proper coding are accomplished by determining the appropriate code in accordance with ICD-9 and CPT guidelines.
• Innovate technical solutions, including development of complex macros within MSP, to automate work and reduce manual processes
• Manage a pipeline of fund TRID loans for completeness so they can be deliver and purchase by the required investor.
• Manage the organization's HMDA data and accurately complete the government reporting annually.
• Render underwritten decisions and subsequently clear conditions per underwriting policies and procedures, including knowledge of FNMA and FMLMC guidelines.
• Generate and distribute IRB committee meeting minutes in accordance with appropriate federal regulations.
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