This position utilizes understanding of qualification factors and processing conditions to ensure property specifications and loan terms meet predefined and regulatory requirements. Completes underwriting process through verification/calculation of borrower income, debt and asset analysis, and thorough title/appraisal review. Within approval authority for first and second mortgage loans, makes appropriate lending decisions and clears underwriting conditions for final approval.
Mortgage Underwriter Responsibilities
Loan Application/File Review:
Utilizes advanced knowledge of relevant qualification factors to perform complete and in-depth review of complex mortgage loan files.
Utilizes the loan operating system to ensure accurate data entry.
Underwrites first and second mortgages loans in accordance with investor guidelines including, but not limited to state and federal guidelines.
Ensures overall loan documents are accurate, complete and compliant. Serves as final reviewer.
Reviews and approves conditions for compliance and completion of the loan file.
Reviews all financial documentation for accuracy and authenticity. Calculates standard income.
Applies knowledge of lending practice and underwriting guidelines to ensure acceptable levels of loan risk.
Performs mortgage credit analysis to determine Borrower’s credit worthiness.
Ensures that loan requests meet program and product specifications.
Utilizes appraisals to ensure that the mortgaged property and loan amounts in in alignment with market value.
Utilizes title insurance reports to ensure appropriate coverage and secure lien position.
Maintains and exhibits thorough knowledge of lending programs, policies, procedures and regulatory requirements.
Consistently demonstrates commitment to professional ethics. Complies with all Federal and State regulatory policy. Adheres to HMDA requirements.
Mentors less experienced and newly hired underwriting staff.
Utilizes reference tools and resources to provide accurate loan program/policy information to external members and internal business partners.
Seeks ways to streamline work processes and continuously improve.
Regularly works to meet member service levels; shows sustained commitment to high service standards.
May assist in exam/audit request response. Takes actionable items from Annual Portfolio Review.
Mortgage Underwriter Qualifications
High school diploma or equivalent. Minimum three years mortgage underwriting experience, two years with secondary market underwriting.
Demonstrated knowledge of secondary market underwriting guidelines.
Demonstrated ability to underwrite complex first and second loan files.
Proven ability to make independent lending decisions, within lending authority, based on guidelines and standards.
Current and up to date knowledge of lending regulations, compliance, and best practices.
Ability to follow the Credit Union’s written policies and procedures. Ensures compliance with the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (SAFE Act).
Sound decision making ability, business acumen, and problem solving skills.
Professional written and verbal communication skills. High level communication ability.
Ability to interpret underwriting guidelines within established risk tolerance and portfolio objectives.
Ability to function effectively as a member of a team or on individual tasks and assignments.
Proficiency with Microsoft Office software. Familiarity with loan processing systems and lending platforms.
Working knowledge loan procedures and compliance issues.
Thorough knowledge of federal and state lending laws, compliance policies and HMDA requirements.
VanderHouwen is an award-winning, Women-Owned, WBENC certified professional staffing firm. Founded in 1987, VanderHouwen has been successfully placing experienced professionals throughout the Pacific Northwest and nationwide. Our recruitment teams are highly specialized in either Technology and IT, Engineering, or Accounting and Finance career markets. Our recruiters value building meaningful, professional relationships with each candidate as well as developing honed knowledge of companies' staffing needs and workplaces. Partner with us to land your next exciting career.
VanderHouwen is an Equal Opportunity Employer and participates in E-Verify. VanderHouwen does not discriminate on the basis of race, color, religion, sex, national origin, age, disability, or any other characteristic protected by applicable local, state or federal civil rights laws.
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