Mortgage Loan Underwriter

Job Description

Job Description

POSITION SUMMARY

Responsible for the detailed review and analysis of mortgage loans to ensure the loans meet established underwriting guidelines. Responsible for the verification of employment along with income information, credit history and compute the borrower’s assets and collaterals. Ensure that the specifications of properties and terms of loans meet the requirements of the financial institution and with the government regulations. Approve acceptable loans within delegated lending authority.

ESSENTIAL FUNCTIONS

1. Represent the credit union to members in a courteous, professional manner. Provide prompt, efficient and accurate service in processing transactions.

1. Underwrite all portfolio, including HELOCs and secondary products including FHA and VA loans.

1. Review and calculate borrowers’ employment time, income, assets and credit history information, after reviewing documentation uploaded from processing/loan originator, requesting further documentation for review from processor/loan originator when necessary.

1. Analyze appraisals to determine acceptability of collateral and appraisal report, relaying any deficiencies to processor/loan originator for dispute with the Appraisal Management Company and analyze the updated report.

a. This will also be requested by the Mortgage Underwriter for the HELOC department, which is a consumer lending product.

1. Perform income analysis for all borrowers including self-employment, corporate, and partnership tax returns; analyze P&L’s along with supporting assets to determine viability of income. Requesting further documentation if needed from the processor/loan originator or HELOC Specialist.

1. Review of all income docs will be requested by the Mortgage Underwriter for the HELOC department, which is a consumer lending product.

1. Ensure specifications of properties and terms of loans meet requirements of the credit union and applicable government regulations.

1. Documenting and effectively communicating reasons for the approval/rejection of loans.

1. Approve or deny mortgage loans within lending authority.

1. Process loan files and ensure accuracy and completeness. Ensure loan files complies with Secondary Market guidelines.

1. Demonstrate an understanding of underwriting policies and procedures, including investor guidelines and regulatory updates.

1. Maintain working knowledge of mortgage software.

1. Maintain knowledge of and comply with federal regulations such as the Bank Secrecy Act as well as credit union security protocols as it relates to this position.

1. Perform other duties and responsibilities as required or assigned.

KNOWLEDGE, SKILLS AND ABILITIES

- Ability to read and write.

- Ability to count and deal with numbers and details effectively.

- Ability to deal effectively with people at all levels, orally, in writing, or by phone.

- Ability to effectively and efficiently communicate orally, in writing, and by phone.

- Ability to deal with members effectively (friendliness, tact and diplomacy).

- Ability to learn, apply, and communicate knowledge of policies and procedures of loan department.

- Ability to learn, apply, and communicate knowledge of credit union products and services.

- Ability to work independently and manage time effectively.

- Ability to coordinate, process, and analyze lending documentation and decisions.

- Ability to make sound decisions on issues and justify them.

- Ability to input and retrieve data from computer.

- Ability to use a HP 12C Calculator.

- Ability to type accurately.

- Ability to use and learn office machines (i.e., copier, fax, terminals).

- Ability to work in a production/flexible environment.

- Ability to use the Mortgage software.

- Proficient Microsoft Office skills.

TRAINING AND EXPERIENCE

High school diploma or equivalent required. Minimum of 3 years’ experience in mortgage lending with a focus on underwriting.

Salary: DOE
FLSA Status: Non-Exempt
Reports to: VP, Mortgage
Location: YMCA Plaza