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 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 turn‑time, efficiency, and providing the best member experience possible.

Provide quality member service to meet the standards set by mortgage management and the Member Experience team.

• Review and analyze loan files submitted for members to ensure file meets loan program requirements, including loan application, credit profile and reports, 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.
• Perform underwriting of self‑employed borrowers using tax returns, business returns, etc.
• Ensure compliance with Federal, State and local government accounting and financial reporting standards and controls.
• Underwrite files within an acceptable time frame determined by mortgage management, with primary emphasis on first mortgage loans.
• Create and maintain a courteous and professional relationship with co‑workers.
• Condition files for missing/supporting documentation according to secondary market and VACU guidelines.
• Prioritize multiple competing tasks and maintain productivity and compliance standards.
• Discuss loan denial decision results with loan officers and loan advisors/processors.
• Assist First Mortgage management to investigate audit exceptions and formulate responses.
• Work extended hours as business needs require.

Other duties may be required and assigned by the supervisor.

Responsible for underwriting Government and Conventional loans following established VACU, agency and investor guidelines.

• Determine mortgage loan file risk based on compliance, agency, investor, and VACU guidelines to ensure saleability with minimal loss.
• Service‑focused with superior time‑management and communication skills, the 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.
• Knowledge of tax return and balance sheet analysis, including both cash flow and AGI methods.
• Computer experience required.

Minimum:
Bachelor’s degree from a four‑year college or university. 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.

• Excellent oral and written communication skills.
• Excellent problem‑solving and organizational skills.
• Strong time‑management and multitasking ability.
• Team player who works for the best solution for the team and the member.
• Knowledge of tax return and balance sheet analysis, including cash flow and AGI methods.

This job requires the ability to sit for long periods of time. This job requires occasionally lifting up to 20 pounds and/or up to 10 pounds frequently.

We’re proud of the opportunities, training, benefits and work‑life balance we provide to those who help people take their money further, and reach their goals sooner. We strive to provide a culture where employee development, teamwork, integrity, respect and quality of life are the cornerstones of delivering superior member experience. In return, we offer employees a challenging and rewarding work environment and are committed to maintaining an atmosphere that promotes teamwork and continual improvement.

Virginia Credit Union is an Equal Opportunity Employer.