Mortgage Loan Underwriter

Role

Serves as the primary centralized lending underwriter for consumer mortgage loan decisions. Receives and evaluates consumer mortgage loan applications submitted by Mortgage Loan Officers and other credit union lending staff. Acts as a resource for information regarding loan decisions, loan inquiries, and credit union lending products and services. Responsible to grant or deny loans within limits assigned and to provide the highest quality of service to members by finding ways to maximize the number of service relationships the member has with the organization.

The Mortgage Loan Underwriter must understand the importance of their role in the credit union's overall loan quality.

• Receives application from mortgage loan officers and other credit union lending staff through workflow. Reviews applications for accuracy and completeness. Analyzes financial information by reviewing member’s credit history, and other financial documents to assess their ability to repay the loan. Evaluates the risk by determining if the credit union and member would be in a good position by approving the loan.
  
  Makes sound and fair decisions whether to approve or deny the loan as well as establish loan pricing, terms, and conditions. Loans outside of guidelines or approval limits are escalated to the Mortgage Loan Manager, or VP of Lending with a recommendation as to the loan decision for each loan. Ensures that mortgage loan regulations and credit union policies are followed as required.
  
  Actively and consistently seeks quality opportunities to increase loan volume.
• Responsible for communicating loan decisions to Mortgage Loan Officers assigned to the loan. Routes loan applications with decision to the appropriate staff for follow‑up as needed. Has the ability to discuss loan denials, loan alternatives, and rates in a clear, concise, and courteous manner. Prepares initial disclosures, pre‑approval letter, and borrower’s checklist providing them to the assigned loan officer within regulation timeline or to the member in the loan officers’ absence.
  
  Follows through with denial procedures on all loan denials. Reviews the loan file and gives final approval prior to attorney review. Collaborates with internal teams to generate sales results. Fosters and builds relationships with 3rd party partners to help generate pipeline volume.
• Prepares reports tracking pipeline, and mortgage rate trends as well as any additional reports that management deems necessary to assist in quality assurance. Maintains the pipeline and cleans up as necessary. Continues to stay updated on compliance and regulatory standards. Works with management on internal and external audits. Assists management in the development and implementation of underwriting guidelines and procedures. Assists management in special projects and assignments as needed.
• Must be a self‑starter who measures self against standards of excellence. Demonstrates the ability to excel in a high‑stress environment and can meet goals and deadlines. Must comply with all company policies and procedures, applicable laws and regulations, including but not limited to the Equal Credit Opportunity Act, the Federal Truth‑in‑Lending Act, Real Estate Settlement Procedures Act, the Bank Secrecy Act, and the Office of Foreign Assets Control.

EXPERIENCE:

Five to ten years of similar or related experience, including time spent in preparatory positions.

A college degree.

A significant level of trust, credibility and diplomacy is required. In‑depth dialogue, conversations and explanations with customers, direct and indirect reports and outside vendors can be of a sensitive and/or highly confidential nature. Communications may involve motivating, influencing, educating and/or advising others on matters of significance. Typically includes subject‑matter experts as well as first‑level to middle managers.

Is responsible for a width of information including but not limited to: the organization’s current mortgage loan interest rates, commitment/rate lock/relock fee procedures, consumer loan products/rates/guidelines that are used in conjunction with Mortgage Lending (Execulines, second mortgage products, swing loans, land loans, etc.), any loan origination software system.