Home Equity Lending Underwriter

Mountain America Credit Union

8d•Remote

About The Position

Responsible for underwriting, analyzing and designating risk when extending credit through home equity loans by following risk based lending principles, MACU guidelines, procedures and lending regulations, and approving or denying such loan requests. Also responsible for reviewing the accuracy and regulatory requirements of each loan request.

Requirements

Requires a minimum of 3 years of experience in mortgage or home equity lending, with underwriting experience preferred.
Four year college degree or equivalent in job related history.
Must be able to qualify annually as a Mortgage Loan Originator under S.A.F.E Act Registration post hire.
Basic computer operating skills.
Intermediate to advanced sills in Microsoft Office (Outlook, Word and Excel)
Type a minimum of 35 words per minute preferred.
Symitar knowledge and experience preferred.
Good skills with Microsoft Office Suite including Outlook, Word, and Excel.
Good experience with Encompass or other financial lending software.
Demonstrated ability to clearly express ideas, methodology, results and recommendations verbally, in writing and through insightful reports and graphic illustrations
Demonstrated ability to document outcomes and present information in a manner appropriate for key stakeholders and all levels of the organization.
Thorough knowledge and application of methods or procedures in a discipline
Advanced knowledge of the profession and/or industries
Ability to work both autonomously and collaboratively in a fast-paced environment.
Self-starter with strong attention to detail, organizing and time management skills and the ability to work productively and efficiently with multiple responsibilities and timelines.
Excellent analytical skills with ability to make decisions and recommendations based on the analysis performed.
Bigger picture understanding of lending principles and how to apply them, especially when the decision is not black and white.
Adaptive to change, responds positively to altered circumstances or conditions.
Possess a desire and willingness to learn and continually update knowledge base on financial concepts, strategies, systems etc.
Take initiative to be a problem solver and provide suggestions to improve processes and efficiencies.
Excellent inter-personal and communication skills.
Ability to talk, hear, sit, use hands to handle or feel and reach with hands and arms consistently
Ability to stand, walk, kneel and crouch occasionally
Close vision (clear vision at 20 inches or less)
Distance Vision (clear vision at 20 feet or more)
Ability to lift up to 10 pounds consistently and up to 25 pounds occasionally

Responsibilities

Extensive knowledge of home equity lending products.
Extensive knowledge of MACU home equity lending guidelines, procedures and federal, state and local real estate lending regulations and laws in the 9 states that MACU lends in.
Extensive understanding of MACU’s risk-based lending principles and how to apply them. Such principles include the following elements and understanding of their relationship to loan risk: Loan amount, LTV, DTI, borrower credit history, borrower credit scores, collateral lien position, condition of collateral, type of collateral, value of collateral, residual borrower income, consistency of borrower income, borrower assets, loan payment type, term of loan and type of loan.
Uphold the quality of MACU’s home equity loan portfolio by analyzing these risk elements and the overall risk and merits of each loan request and designate the final degree of risk involved in extending credit, then approve or deny the request.
Approve or deny home equity loan requests up to $750,000. Make decision recommendations for loans over $750,000 up to $2 million.
Final review and analysis of the loan file as given them by the loan coordinator ensuring the file’s accuracy and adherence to guidelines, procedures and regulatory requirements. Such includes, income calculations, LTV calculations, DTI calculations, appraisal analysis, credit report analysis, “ability to repay” regulations, disclosure regulations, title report analysis, trust document analysis and proper file documentation.
Hold loan coordinators responsible for inaccuracies, missing information and/or mistakes.
Be detail oriented and ensure the decisioning and risk quality of home equity loans by achieving analysis accuracy, individual goals and team standards.
Maintain quality turn times and self-management of workload and pipeline to hit strict deadlines and production standards.
Handle quality assurance review of post-closing home equity loan documents to ensure adherence to legal requirements before the loan funds.
Participate in ongoing training of home equity products.
Build and maintain a cooperative working relationship with other home equity lending team members, vendors and branch/member service personnel.
Maintains confidentiality of credit union and member information.
Performs other duties as assigned.