Sr Mortgage Underwriter

Achieva Credit Union•Dunedin, FL

62d

About The Position

Purpose/Duties Responsible for maintaining consistent quality of loan files through the Responsible to review, analyze and decision loan applications in accordance with established policies and procedures, provides a variety of mortgage services to the membership. Underwrites conventional, credit union portfolio, jumbo, construction, workout, modifications and FHA/VA loan applications. Has approval authority for more complex loan request and exceptions to policy. Assist with on-site investor audits and monthly Quality Control of closed loans, denied FHA loans and FNMA audit request. Maintains a working knowledge of all services and operations of the credit union. Must participate in training annually, or as required for BSA and the Privacy Act. Key Result Areas Performs complete thorough analyses of loan files to determine compliance with credit union, investor, FHA/VA, Federal and State guidelines. Underwrite Conforming, Jumbo, Portfolio, Construction, FHA & VA loans. Approve, decline or counter offer loans within limits of assigned authority. Underwrite a minimum of 45 loans per month. Maintain a daily workload as needed to ensure prompt turnaround time as indicated by VP of Real Estate. Must be responsible to meet deadlines when heavy periods of volume exist throughout the month. Function as technical resource to team. Assist in correction of Delivery issues on specific files as required. Support team members to identify potential solutions/alternatives for difficult/denied loans. Assist in orientation and training of department personnel. Maintain knowledge of underwriting guidelines and stay current with departmental requirements. Measure all mortgage loan submissions for underwriting decisions based on department quality control and investor/regulatory compliance. Ability to review complex tax returns personal and business related. Ability to review Condo/PUD projects to ensure they meet salable or non-warrantable guidelines. Verify that the rate lock matches the underwriting files with the correct program, LTV, credit score. Perform Second level reviews on loans recommended for denial. Evaluate the application to determine if three are any other products or alternative terms available before issuance of denial. Perform Second Level Review on loans recommended for approval above another underwriters lending authority. Evaluate the entire credit package and collateral for residential mortgage loans to ensure an investment quality loan product. Check accuracy of all calculations. Ensure that processing, closing and underwriting functions are performed in compliance with all investor, regulatory and credit union policies and procedures. Assist with training of new underwriters and development of mortgage staff to increase knowledge related to product guideline and compliance. Recommend the loan disposition of loan amounts in excess of authorized limit to VP of Real Estate Lending. Maintain a minimum productivity level of 3 files for complete underwrite and minimum of 3 files for conditions to clear. Comply with credit union underwriting turnaround time. Communicate loan decision to appropriate parties. Be available to processors, closers and loan officers for general guideline interpretations and questions on specific loan files. Respond to post closing reviews and audits in a timely fashion. Perform related duties as directed by VP Real Estate Lending. Attain and maintain knowledge of all credit union services. Ensure compliance with legal requirements, lending regulations and internal policies and procedures. Underwrite and approve 1st mortgage loan applications. Update staff on changes to product guidelines, compliance and process. Interface with other departments, vendors, and financial institutions to promote teamwork and high quality member service. Maintain member confidentiality. Attend required meetings and training sessions as requested. Perform other essential job functions as required or assigned. Responsible for upholding all credit union ethical standards. Represents the credit union in a courteous and professional manner. Perform other essential job functions as required or assigned.

Requirements

Associate's Degree in Business Administration or related field (or equivalent combination of education and experience)
Minimum of 5 years of recent Mortgage Underwriting experience (Conventional, FHA, VA, and Jumbo) with strong agency guideline knowledge
Proficient with Mortgage Origination systems
Strong working knowledge of regulations and guidelines governing mortgage lending, inclusive of Fannie Mae/Freddie Mac, FHA/VA and private mortgage insurers as well as state and federal laws. Including ATR/QM Requirements
Excellent Oral and Verbal communication Skills
Demonstrated ability to plan and organize
Demonstrated reasoning ability to collect data, establish facts and draw conclusions
Demonstrated ability to plan, schedule and coordinate work of others
High integrity and outstanding work ethic
Ability to work in a fast paced, fluid environment and be held to meet minimum production standards
Must have proficient written and verbal communication skills
Proven knowledge of compliance and disclosure requirements
Proven knowledge of closing, post-closing & quality control responsibilities
Must have the ability to maintain highly confidential information
Must be able to demonstrate strong analytical skills, and the ability to demonstrate initiative and ability to take action on information and resolve non-routine issues using sound business judgment
NMLS required upon hire

Responsibilities

Responsible for maintaining consistent quality of loan files
Review, analyze and decision loan applications in accordance with established policies and procedures
Underwrites conventional, credit union portfolio, jumbo, construction, workout, modifications and FHA/VA loan applications
Assist with on-site investor audits and monthly Quality Control of closed loans, denied FHA loans and FNMA audit request
Perform complete thorough analyses of loan files to determine compliance with credit union, investor, FHA/VA, Federal and State guidelines
Underwrite Conforming, Jumbo, Portfolio, Construction, FHA & VA loans
Approve, decline or counter offer loans within limits of assigned authority
Underwrite a minimum of 45 loans per month
Maintain a daily workload as needed to ensure prompt turnaround time as indicated by VP of Real Estate
Function as technical resource to team
Assist in correction of Delivery issues on specific files as required
Support team members to identify potential solutions/alternatives for difficult/denied loans
Assist in orientation and training of department personnel
Maintain knowledge of underwriting guidelines and stay current with departmental requirements
Measure all mortgage loan submissions for underwriting decisions based on department quality control and investor/regulatory compliance
Ability to review complex tax returns personal and business related
Ability to review Condo/PUD projects to ensure they meet salable or non-warrantable guidelines
Verify that the rate lock matches the underwriting files with the correct program, LTV, credit score
Perform Second level reviews on loans recommended for denial
Evaluate the application to determine if three are any other products or alternative terms available before issuance of denial
Perform Second Level Review on loans recommended for approval above another underwriters lending authority
Evaluate the entire credit package and collateral for residential mortgage loans to ensure an investment quality loan product
Check accuracy of all calculations
Ensure that processing, closing and underwriting functions are performed in compliance with all investor, regulatory and credit union policies and procedures
Assist with training of new underwriters and development of mortgage staff to increase knowledge related to product guideline and compliance
Recommend the loan disposition of loan amounts in excess of authorized limit to VP of Real Estate Lending
Maintain a minimum productivity level of 3 files for complete underwrite and minimum of 3 files for conditions to clear
Comply with credit union underwriting turnaround time
Communicate loan decision to appropriate parties
Be available to processors, closers and loan officers for general guideline interpretations and questions on specific loan files
Respond to post closing reviews and audits in a timely fashion
Perform related duties as directed by VP Real Estate Lending
Attain and maintain knowledge of all credit union services
Ensure compliance with legal requirements, lending regulations and internal policies and procedures
Underwrite and approve 1st mortgage loan applications
Update staff on changes to product guidelines, compliance and process
Interface with other departments, vendors, and financial institutions to promote teamwork and high quality member service
Maintain member confidentiality
Attend required meetings and training sessions as requested
Perform other essential job functions as required or assigned
Responsible for upholding all credit union ethical standards
Represents the credit union in a courteous and professional manner