Mortgage Underwriter

PRIMARY FUNCTION

Underwrite first and second mortgage loans based on guidelines established by agencies, investors and Virginia Credit Union (VACU) guidelines. Maintain ongoing training for loan originators and processors on changes and updates to underwriting guidelines established by agencies and the credit union. Examine loan documentation for accuracy and completeness to determine credit worthiness. Work with the production staff to secure all required documentation.

Requires daily contact with originators, processors and underwriters. We pride ourselves on turnaround time, efficiency, and providing the best member experience possible.

• Provide quality member service to meet standards set by mortgage management and the Member Experience team.
• Review and analyze loan files submitted for members to ensure the file meets loan program requirements. Includes individual analysis of loan application, credit profiles/report(s), debt and assets, income/financial statements, loan values/loan-to-value ratios, appraisal reports, collateral and supporting documentation.
• Identify and calculate loan risk of loss.
• Assist VACU staff members with questions regarding VACU first and second mortgage products.
• Underwrite conventional (FNMA/FHLMC) and government (FHA/VA/VHDA & USDA) mortgages.
• Underwrite files within an acceptable time frame with primary emphasis on first mortgage loans.
• Create and maintain courteous and professional relationships with co‑workers.
• Condition files for missing/supporting documentation according to secondary market and VACU guidelines.
• Prioritize multiple competing tasks.
• Perform quality work while maintaining productivity and compliance standards.
• Exhibit excellent problem‑solving skills.
• Discuss loan denial decision results with loan officers and loan advisors/processors.
• Assist First Mortgage management to investigate audit exceptions and formulate responses.
• Available to work extended hours as business needs require; flexibility during heavy workload periods.
• Perform other duties as required and assigned by the supervisor.
• Comply with all published enterprise‑level policies and procedures, including Risk Management policies.
• Complete all required ongoing enterprise‑level training, including BSA, OFAC, and Information Security.
• Report all Risk Management Policy violations in accordance with policy.

• Responsible for underwriting government and conventional loans following established VACU, agency and investor guidelines.
• Evaluate mortgage loan files and assess risk based on compliance, agency, investor, and VACU guidelines to ensure salability with minimal loss.
• Service‑focused with superior time‑management and communication skills, ability to multi‑task, and keen attention to detail.
• Conduct business with integrity and in a highly ethical manner.

• Considerable demonstrated experience underwriting conventional (conforming and non‑conforming) and government (FHA/VA/USDA & VHDA) first and second mortgage residential products.
• FHA Direct Endorsement, VA Credit Certification, VA SAR, USDA and VHDA certifications preferred.
• Experience with operation of Automated Underwriting Systems (AUS) required.
• Experience in mortgage origination (sales and processing) a plus.

• Excellent oral and written communication skills combined with the ability to make sound decisions.
• Excellent problem‑solving and organizational skills required.
• Knowledge of tax return and balance sheet analysis, including both cash flow and AGI methods.
• Must be a team player who works for the best solution for the team and the member.
• Computer experience required.

Bachelor's degree (B.

A.) from a four‑year college or university; and preferred five years or more related experience in automated underwriting systems including FNMA's Desktop Underwriter and knowledge of FNMA and all government program underwriting guidelines and/or training; or equivalent combination of education and experience.

• Ability to sit for long periods of time.
• Occasional lifting up to 20 pounds and/or up to 10 pounds frequently.