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.