Mortgage Underwriter I

GENERAL SUMMARY

Responsible for all mortgage loan processing and underwriting activities for all in house credit union real estate loans. Receives, evaluates, approves and underwrites mortgage loan applications from branch originators. Obtains and verifies documents and information required for making loan decisions within credit union policy and federal regulations, underwrites all required mortgage loan documents and prepares files for closing within specified and regulated time frames. Obtains all required documentation and verifications from borrowers through branch MSO staff and communicates loan status to all involved parties. Responsible for timely follow up of all mortgage loan applications submitted by branch staff and internet channels to insure quick and timely closings.

ESSENTIAL FUNCTIONS

• Assumes responsibility for providing effective support for all phases of mortgage loan activities.
  • Orders appraisals, credit report, titles reports flood determinations.
  • Determine collateral needs and payment plans for members applying for loans.
  • Prepare adverse action documentation for mortgages.
  • Reviews applications and information for completeness and accuracy. Clarifies missing or questionable information and follows up with MSO staff for outstanding documents or verifications. Ensures all items necessary are in loan files and performs required validations to ensure compliance with underwriting guidelines. Resolves any outstanding conditions for underwriting to render a loan decision on real estate loans up to $100K without CLO or Senior Underwriter approval.  Refer loans to management that require exceptions to policy/guidelines or are outside the scope of normal approval.
  • Must have complete knowledge of all credit union policy, CFPB rules and NCUA regulations as they pertain to mortgage lending. Must be knowledgeable on credit union real estate products. May also assist MSO staff by making suggestions regarding the best financial solutions for members.
  • Prepares all estimated and final disclosures and documents in accordance with all underwriting guidelines, credit union policy and federal law for members in accordance with loan products to send to the branch for signing.
  • Assembles completed loan package after closing and funding for quality control audit and scanning.
  • Must update events in Synapsys to ensure communication to branch staff and to expedite loan applications in a timely manner.
• Assumes responsibility for establishing and maintaining professional business relationships with credit union staff and mortgage professionals.
  • Resolves requests and problems promptly and courteously. Answers credit union staff mortgage loan questions regarding applications in process of approval.
  • Notifies MSO staff of additional information required in a timely manner.
  • Maintains and conveys the credit union’s professional reputation
• Required to train with Mortgage Underwriter II and First Heritage staff on all First Heritage programs, systems and requirements in order to progress to Mortgage Underwriter II.
• Maintain current knowledge of all Credit Union policies and procedures, including compliance with federal laws and regulations as set forth by the NCUA and other regulatory agencies.

NOTE: The list of essential functions is not exhaustive. It may be supplemented as necessary.

ADDITIONAL FUNCTIONS

• Attend training courses, conferences and seminars as necessary.

JOB SPECIFICATIONS

• Requires professional, well-developed interpersonal skills for communicating with members, co-workers and other individuals involved in the lending process.
• Requires high level of organizational skills such as managing files, creating and keeping deadlines, coordinating closings, problem solving, analysis, working with data, conflict resolution and a keen attention to detail.
• Requires a highly motivated individual that can take on several tasks at hand.
• A team player is required due to the constant interaction with staff and members and an ever-changing lending environment.
• Requires thorough knowledge of the Credit Union's policies, procedures, products and services regarding the lending function. Requires knowledge of laws and regulations governing lending.
• Requires completion of high school education.
• Requires at least two years of experience in lending with some training/knowledge of the mortgage lending industry.
• Must meet financial responsibility, character and general fitness of the Secure and Fair Enforcement for Mortgage Licensing Act (S.A.F.E. Act).
• Requires intermediate mathematical skills (calculations and concepts involving decimals, fractions, percentages, etc.).
• Requires PC proficiency and knowledge of Office Suite.

PHYSICAL REQUIREMENTS

Sitting = Continuous                                                Crawling = Occasional
Standing = Frequent                                               Climbing = Occasional
Walking = Frequent                                                 Balancing = Occasional
Driving an automobile = Occasional                       Reaching Overhead =Occasional
Lifting/Carrying = Occasional                                  Reaching Forward = Occasional  
           Amount of Weight = 25 to 50 lbs.                 Kneeling = Occasional
Squatting = Occasional                                           Push/Pull = Occasional
Bending = Occasional                                             Twisting = Occasional

DISCLAIMER

The above information on this description has been designed to indicate the general nature and level of work performed by employees in this classification.  It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities and qualifications required of employees assigned to this job.