Castle & Cooke Mortgage relies on its underwriters to verify that submitted mortgage loan applications meet the investment quality and risk thresholds defined by Castle & Cooke Mortgage as well as the best practices of the mortgage lending industry.
Underwriters are required to perform a thorough review of the mortgage loan application submitted together with all back up documentation to ensure that the proposed mortgage loan meets Castle & Cooke Mortgage’s standard requirements for credit, collateral and capacity. In addition, each underwriter will review the mortgage loan application and related documents thoroughly to verify all applicable agency guidelines, program guidelines and Castle & Cooke Mortgage overlays are met.
Underwriters have discretion to request and/or require additional documentation in order to make a sound overall underwriting decision. Underwriters also have the discretion to decline a mortgage loan application if, in such underwriter’s reasonable view, the mortgage loan presents undue risk to the company or its counterparties or the mortgage loan does not otherwise meet the lending requirements established by the mortgage industry.
Underwriters review each file for potential Red Flags indicating that there may be a potential for identity theft, and also for any facts or circumstances that would suggest that there may be mortgage fraud on a loan file. Underwriters are trained regularly on identifying Red Flags and detecting and preventing fraud. In addition, underwriters receive regular job specific and compliance based training.
Underwriters are required to make timely and accurate decisions and ultimately confirm for Castle & Cooke Mortgage that our approved borrowers maintain the integrity of our high standards for borrower performance.
Underwriters also provide mentoring and assistance to other underwriters and team members. In the case of any potential discrepancies or requests an exception from standard policy, practices or procedures, underwriters convene to review the matter together.
Castle & Cooke Mortgage underwriters are required to have a minimum of five years prior experience underwriting mortgage loans and a minimum of ten years in mortgage lending.