Equity Underwriter (GPO/WCC)

TEKsystems • Pensacola, FL

417d • $40,123 - $69,888 • Hybrid

About The Position

TEKsystems is seeking qualified candidates for several Equity Underwriter positions with a local Fortune 100 Credit Union. This hybrid role involves evaluating and underwriting equity loans according to state and federal requirements, ensuring minimal risk exposure to the Credit Union's mortgage portfolio. The position requires analyzing loan documentation, making informed loan decisions, and working collaboratively with loan originators and processors.

Requirements

• Significant (minimum 5 years) mortgage underwriting experience.
• Demonstrated in-depth knowledge of underwriting principles, secondary market (FNMA and FHLMC) and/or government (FHA/VA) guidelines, and relevant regulatory requirements.
• Strong organization skills and ability to handle multiple tasks simultaneously with a high degree of accuracy in a high volume, fast-paced environment.
• Strong verbal, written, and interpersonal communication skills to include experience counseling, negotiating, or explaining decisions to members and vendors.

Responsibilities

• Analyze mortgage loan information on loan documents such as income, assets, and credit criteria to confirm loan eligibility based on company, local, and federal guidelines as well as adherence to investor requirements.
• Analyze exceptions and rejections; recommend alternative mortgage products that could bring the loan within guidelines.
• Analyze self-employed borrower income documentation.
• Approve equity loans and authorize loan disbursements based on a complete analysis of submitted documentation and applicable rules and regulations.
• Determine the acceptability and marketability of the real estate property to ensure there is sufficient collateral to secure the loan.
• Prepare and present counter-offers on marginal loans; prepare adverse action (loan disapproval) notifications, with awareness of the compliance provisions of the regulatory agencies.
• Work closely and collaboratively with loan originator and processor to ensure all appropriate data and required documentation is obtained.
• Review/understand effects of contracts related to real estate, such as age restrictions, HOAs, etc.
• Maintain current knowledge of all equity products and any changes to guidelines by credit union, investor, or government agencies that impact the processing of mortgage loan products.
• Assist in the ongoing maintenance of online underwriting manuals.
• Exercise judgment and discretion to analyze and solve more complex or unusual problems; assess issues; may modify processes and procedures and develop alternate courses of action to complete work.

Benefits

• Medical, dental & vision
• Critical Illness, Accident, and Hospital
• 401(k) Retirement Plan - Pre-tax and Roth post-tax contributions available
• Life Insurance (Voluntary Life & AD&D for the employee and dependents)
• Short and long-term disability
• Health Spending Account (HSA)
• Transportation benefits
• Employee Assistance Program
• Time Off/Leave (PTO, Vacation or Sick Leave)

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Industry: Professional, Scientific, and Technical Services
• Education Level: No Education Listed
• Number of Employees: 51-100 employees