Mortgage Underwriter

Function

The Mortgage underwriter must possess the ability to analyze information from multiple sources to perform a thorough evaluation and assessment of each borrower. She/he will identify the risk associated with each mortgage loan and provide sound lending decisions.

Duties and Responsibilities

• Underwrite mortgage loan applications for retail and correspondent divisions.

• Approve and denying mortgage loan applications based on investor, MI, secondary market, credit union and federal guidelines. Underwrite loans for correspondent and retail division.
• Comply with all local and federal regulations.
• Utilize logic and reasoning skills to identify high risk mortgage loans and provide alternatives to reduce that risk and protect the credit union assets.
• Assist when needed with underwriting and funding third-party mortgage request.
• Utilize reports/systems to manage the pipeline.
• Direct contact with vendors to validate data provided when needed.
• Direct contact with the member for further borrower evaluation and to explain credit decision when necessary.
• Condition mortgage loans to minimize the risks associated with mortgage lending.
• Clear loan conditions and reviews all documents.
• Monitor mortgage pipeline to ensure timely sale of mortgage loans conforming to investor guidelines.
• Commit mortgage loans for sale on the secondary market.
• On a daily basis, set rates according to ALM guidelines and distribute accordingly.
• Gather and submit files on any audit to include Gov’t, MI and/or Investor and prepare response to findings if necessary.
• Review, test, process and communicate forms- VMP and mortgagebot.
• Keep informed of current trends in mortgage lending and market factors affecting mortgage.
• Other administrative tasks as needed

Qualifications and Education Requirements

• 5 years of mortgage related and underwriting experience.
• FHA experience preferred.
• DE preferred.
• Encompass preferred.
• Correspondent underwriting preferred.
• Equivalent to a 2 or 4 year college degree, or completion of specialized course of study in business, finance or related field.
• Strong communication, analytical, auditing, research and decision-making abilities. Excellent verbal and written communication and problem solving skills.

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities

The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor’s legal duty to furnish information. 41 CFR 60-1.35(c)