Senior Mortgage Underwriter II

    • Job Tracking ID: 512439-762087
    • Job Location: Dunedin, FL
    • Job Level: Any
    • Level of Education: Any
    • Job Type: Full-Time/Regular
    • Date Updated: March 05, 2021
    • Years of Experience: Any
    • Starting Date: ASAP
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Job Description:

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.

  • 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.
  • 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.

Experience and Skills:

Education/Experience Required (5-7 years each):

  • Associate's degree in business or related field, or equivalent combination of education and experience.
  • Mortgage underwriting experience (Conventional, FHA, VA, & 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 ATF/QM requirements.
  • 1-2 years leadership experience

Skills Required:

  • Excellent written 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 the work of others
  • High integrity and outstanding work ethic
  • Ability to work in a fast-paced, fluid environment and be held to production standards
  • Proven knowledge of compliance and disclosure requirements
  • Proven knowledge of closing, post-closing, and quality control responsibilities
  • Must have the ability to maintain highly confidential information
  • Must be able to demonstrate strong analytical skills and the ability to take initiative and take action on information and resolve non-routine issues using sound business judgment