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Key Responsibilities and Required Skills for Underwriting Verification Coordinator

💰 $45,000 - $70,000

UnderwritingInsuranceMortgageOperationsComplianceVerification

🎯 Role Definition

The Underwriting Verification Coordinator is a specialist who ensures loan and insurance applications meet underwriting requirements through rigorous verification of documentation, coordination with third-party vendors, and direct support to underwriters. This role focuses on income, employment, asset, title, and appraisal verification, exception management, and maintaining audit-ready files while adhering to investor, agency (Fannie Mae/Freddie Mac), and regulatory guidelines. The coordinator drives fast, accurate clear-to-close decisions by minimizing conditions, identifying risk and fraud indicators, and maintaining high-quality documentation in the Loan Origination System (LOS) and document imaging platforms.

📈 Career Progression

Typical Career Path

Entry Point From:

  • Loan Processor / Mortgage Processor
  • Verification Specialist / KYC Specialist
  • Mortgage Loan Closer / Closing Coordinator

Advancement To:

  • Senior Underwriting Verification Coordinator
  • Underwriting Lead / Team Lead
  • Underwriting Quality Control Manager
  • Underwriting Manager / Senior Underwriter
  • Compliance or Risk Analyst (mortgage/insurance)

Lateral Moves:

  • Compliance Analyst (TRID, RESPA, ECOA)
  • Secondary Marketing or Delivery Analyst
  • Title/Escrow Coordinator

Core Responsibilities

Primary Functions

  • Conduct comprehensive loan file reviews to verify borrower documentation (income, employment, assets, liabilities, credit, and identity) and confirm alignment with underwriting guidelines, investor overlays, and DU/LP findings; document discrepancies and action steps in the LOS.
  • Perform employment verifications (VOE) and income verifications (VOI), including contacting employers, obtaining pay stubs, W-2s, tax returns, profit & loss statements for self-employed borrowers, and reconciling year-to-date income with AUS findings.
  • Complete asset verification procedures: obtain bank statements, retirement and investment account statements, gift letters, and source-of-funds documentation; perform account seasoning checks and trace large deposits.
  • Review title, escrow, and appraisal documentation to confirm property eligibility, vesting, lien status, and appraisal condition reports; identify title exceptions or property-related issues that affect underwriting decisions.
  • Manage and resolve underwriting conditions by preparing clear, concise condition packages, attaching required documentation, and coordinating with underwriters to achieve "clear to close" status within target SLAs.
  • Maintain and operate Loan Origination Systems (LOS) and document imaging systems (e.g., Encompass, Ellie Mae, Calyx, LendingQB) to upload, tag, and maintain audit-quality loan files and evidence trails.
  • Coordinate third-party verifications and vendor orders (verification services, appraisals, title work, flood certificates, inspections), validate vendor deliverables, and escalate quality or timeliness issues to vendor management.
  • Execute fraud detection and risk assessment activities by identifying red flags in documentation, IRS transcript mismatches, inconsistent asset patterns, or suspicious identity information and escalating potential fraud to the fraud team.
  • Interpret automated underwriting system (AUS) messages (DU/LP), translate findings into documentation requirements, and ensure conditions required by AUS are appropriately satisfied and documented.
  • Prepare detailed exception and discrepancy reports for underwriters when files contain non-standard income, assets, credit issues, or property concerns; recommend mitigations or compensating factors for approval.
  • Serve as the liaison between underwriting, loan officers, processors, closers, and compliance teams to expedite information flow, reduce cycle times, and clarify condition requirements for borrowers and partners.
  • Maintain timely cycle-time metrics and productivity KPIs (turn times, clearance rates, exception rates) and report trends and root causes to underwriting leadership for continuous process improvement.
  • Support post-closing verifications and audit remediation by providing required documentation, reconciling delivery conditions for secondary market sale, and responding to repurchase inquiries and quality control findings.
  • Create, update, and follow Standard Operating Procedures (SOPs) and checklists to ensure consistent verification processes across the team and compliance with investor/agency and regulatory requirements.
  • Conduct targeted file re-reads and quality reviews to identify recurring documentation errors, train teammates, and reduce rework and exception rates for the underwriting queue.
  • Provide clear, professional communication to borrowers when securing missing documents or clarifying verification requests, maintaining excellent customer service and compliance with fair lending rules.
  • Assist in the onboarding and training of new verification staff by developing training materials, conducting shadowing sessions, and monitoring proficiency against productivity and quality benchmarks.
  • Reconcile closing and funding documentation to ensure all pre-funding and post-closing conditions are satisfied and accurately reflected in the LOS prior to purchasing or delivering loans to investors.
  • Implement and support automation and digitization initiatives (e.g., e-signatures, automated VOE/VOA services, integrated bank verification tools) to reduce manual verification steps and speed verification cycles.
  • Support internal and external audit preparedness by organizing documentation, responding to audit requests, and remediating documentation or process gaps identified in QC or compliance audits.
  • Monitor regulatory changes (TRID, RESPA, ECOA, HMDA) and investor bulletins; apply updates to verification workflows, and inform underwriting and operations stakeholders of material impacts.
  • Build and maintain vendor and partner relationships to ensure consistent service levels; negotiate SLAs, monitor vendor performance, and escalate contractual or quality issues.
  • Generate and distribute regular management reports on verification workload, backlog, trends, and risk indicators to underwriting leadership and operations management.
  • Participate in cross-functional projects to refine condition language, reduce unnecessary documentation requests, and streamline hand-offs between origination, underwriting, and closing teams.

Secondary Functions

  • Support ad-hoc reporting and investigative requests from underwriting leadership, quality control, and compliance for trend analysis and audit response.
  • Contribute to process re-engineering initiatives to improve verification throughput, accuracy, and automation adoption across the value chain.
  • Collaborate with business units to translate operational pain points into technology requirements for the LOS, vendor portals, and document management systems.
  • Participate in sprint planning or project meetings when underwriting operations are engaged in agile or transformation teams; provide subject matter expertise on verification workflows.
  • Assist in developing training modules and knowledge base articles that capture frequently encountered verification scenarios, AUS interpretations, and agency-specific nuances.
  • Provide backup support for loan processing, closing coordination, and post-closing documentation reviews during peak periods or staffing shortages.

Required Skills & Competencies

Hard Skills (Technical)

  • Mortgage underwriting knowledge: understanding of agency guidelines (Fannie Mae, Freddie Mac), investor overlays, and AUS (Desktop Underwriter, Loan Product Advisor) results interpretation.
  • Documentation verification: employment (VOE), income (paystubs, W-2s, tax returns), asset (bank statements, investment accounts), and identity verification procedures.
  • Loan Origination Systems (LOS) and imaging: hands-on experience with platforms such as Encompass, Ellie Mae, Calyx, LendingQB, or equivalent.
  • Document management and e-signature tools: DocuSign, Adobe Sign, MERS, or loan document imaging platforms.
  • Data entry and file management: accurate data capture, QC checks, and maintenance of audit-ready loan files.
  • Regulatory and compliance knowledge: TRID, RESPA, ECOA, HMDA basics and their impact on documentation and timing.
  • Secondary market and delivery requirements: knowledge of pre-purchase conditions, delivery packages, and investor timelines.
  • Fraud detection techniques: identifying red flags, AML/KYC basics, and escalation procedures.
  • Microsoft Excel and reporting: pivot tables, VLOOKUP/XLOOKUP, basic formulas, and the ability to produce management reports.
  • Vendor management basics: ordering, tracking, and reconciling third-party deliverables and SLAs.
  • Familiarity with underwriting condition management and clear-to-close workflows.

Soft Skills

  • Strong verbal and written communication: explain complex underwriting conditions clearly to borrowers, processors, and underwriters.
  • Attention to detail: ensure accuracy in documentation reviews and reduce repurchase or audit risk.
  • Time management and prioritization: balance a high-volume workload while meeting SLAs and quality targets.
  • Critical thinking and problem solving: analyze discrepancies and recommend appropriate mitigations.
  • Team collaboration: work cross-functionally with underwriting, processing, closing, compliance, and vendors.
  • Customer-focused service orientation: engage borrowers professionally to gather documentation and resolve issues.
  • Adaptability and continuous learning: stay current with guideline changes, investor updates, and new verification technologies.
  • Coaching and mentoring: provide feedback and training to junior staff to improve team performance.
  • Accountability and ownership: take responsibility for file quality and follow-through on outstanding underwriting conditions.
  • Ethical judgment and integrity: handle sensitive borrower data in compliance with privacy and regulatory standards.

Education & Experience

Educational Background

Minimum Education:

  • High School Diploma or GED required.

Preferred Education:

  • Bachelor’s degree in Finance, Business Administration, Accounting, Economics, or related field preferred.

Relevant Fields of Study:

  • Finance
  • Business Administration
  • Accounting
  • Economics
  • Real Estate
  • Risk Management / Compliance

Experience Requirements

Typical Experience Range: 1–5 years in mortgage or insurance verification, loan processing, or underwriting operations.

Preferred:

  • 3+ years experience in mortgage underwriting support, verifications, or loan processing with exposure to investor guidelines, LOS platforms, and quality control/audit environments.
  • Prior experience with DU/LP, agency guidelines, and post-closing/secondary market processes is highly desirable.
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