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 &
- 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
- 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.