Loan Underwriter

Description

Oly Fed employees love the places we work and the communities we serve. In addition to a generous benefit package and opportunities for career growth, Oly Fed employees are able to boast about working for an organization with a positive reputation and a proven commitment to our communities.

Oly Fed prides itself on a history of personal, high-quality service to our customers and community. The spirit of giving is built into our charter and culture. Each year Oly Fed dedicates 5-15% of its revenues to community support. In addition to corporate financial contributions, our employees extend the policy of community involvement by donating their time and talents.

Analyze credit information and collateral documents to determine risk involved in lending to consumer customers by underwriting all loan packages. Examine loan documentation to ensure accuracy and completeness. Provide an underwriting decision to approve or deny the loans.

One must reside in Washington State with availability to work a hybrid position mostly working from home with varying office days.

• Evaluate equity lines, consumer loans, and documentation to determine if borrower, property, and loan conditions meet underwriting guidelines/requirements and render a loan decision ensuring accuracy and compliance.
• Calculate income and assets and require sufficient documentation to support decisions.
• Analyze credit reports and associated documentation and appraisals, qualify, and classify loans.
• Ensure loans meet the Ability to Repay (ATR) rules established by the Consumer Financial Protection Bureau (CFPB).
• Make timely underwriting decisions on each loan file and communicate decisions appropriately.
• Confer with Loan Officers, Processors, and Closers to resolve consumer and HELOC application conditions.
• Perform income tax analysis, loan structure, and restructure.
• Perform upfront review on residential mortgage loan applications when assigned to Underwriting.
• Develop and provide training for Loan Officers.
• Represent Oly Fed internally and externally, in a manner consistent with our values and culture.
• Other duties as assigned.

• Excellent public and customer relations skills to effectively communicate with internal and external customers, determine their needs, and maintain their confidence.
• Thorough understanding of banking regulations and Association policies and procedures with demonstrated ability to interpret and apply policies and regulations quickly and independently.
• Calculate qualifying income including analyzing tax returns and financial statements.
• Utilize analytical techniques and exercise independent judgment to solve problems and identify strategies to solve complex customer needs.
• Exercise confidentiality and discretionary judgment.
• Organization and flexibility to prioritize workload in a fast-paced, customer-driven environment.
• Exceptional written and verbal communication skills including the ability to clearly communicate and explain complex banking, lending and legal regulations and documents.
• Proficiency in basic computer programs with ability to learn new software.
• Read, write, speak, and understand English well. Ability to perform basic calculations.
• Work occasionally in the Main Office in downtown Olympia.

• Bachelor's degree or equivalent experience and training in a related field preferred.
• Minimum five years of relevant mortgage experience preferred.
• Advanced mortgage loan appraisal review and tax analysis experience.
• Must be bondable.
• Reside in Washington State.

Duties are performed in usual office conditions. Ability to operate standard office equipment including personal computer, standard keyboard, 10-key calculator and work a standard shift with repetitive wrist and hand movements. Ability to talk and hear. Ability to stand or sit for extended periods of time. Occasionally lift, move, or carry items up to 15 lbs. Ability to concentrate on the matter at hand, under sometimes distracting work conditions.

Requires manual dexterity and handling ability. Use hands and arms to finger,…