Mortgage Loan Underwriter

Palmetto Citizens Federal Credit Union•Columbia, SC

About The Position

The Mortgage Loan Underwriter is responsible for independently evaluating, underwriting, and determining the eligibility of residential mortgage loan applications while balancing prudent risk management, regulatory compliance, and exceptional member service. This role performs comprehensive credit analysis and exercises sound lending judgment to approve, suspend, or deny mortgage applications in accordance with investor guidelines, agency requirements, and credit union policies.

Requirements

High School Diploma or equivalent required
5+ years of residential mortgage underwriting experience, including significant experience underwriting government-insured mortgage products.
Experience underwriting conventional, FHA, VA, and USDA mortgage loans required.
Active Direct Endorsement (DE) designation required.
Advanced knowledge of residential mortgage underwriting principles, agency guidelines, and secondary market requirements.
Proficiency with Automated Underwriting Systems, including Desktop Underwriter (DU) and Loan Product Advisor (LPA).
Thorough understanding of mortgage documentation, income analysis, asset verification, collateral review, and credit risk assessment.
Demonstrated ability to interpret and apply federal regulations, agency guideline updates, and internal lending policies.
Strong analytical, mathematical, organizational, and problem-solving skills with exceptional attention to detail.
Ability to manage multiple priorities and make sound decisions in a fast-paced, deadline-driven environment.
Excellent written, verbal, and interpersonal communication skills, with the ability to effectively communicate underwriting decisions and complex lending concepts to associates and members.
Self-motivated, adaptable, and committed to maintaining required certifications and completing ongoing regulatory and professional development training.

Nice To Haves

Associate's or Bachelor's degree in Business, Finance, Accounting, or a related field preferred.
VA Staff Appraisal Reviewer (SAR) designation preferred.
USDA underwriting experience or certification preferred.

Responsibilities

Independently underwrite conventional and government-insured mortgage loans, including FHA, VA, USDA, CRA, and home equity products, ensuring loans are ethical, high quality, salable, and compliant with investor and regulatory requirements.
Analyze borrower creditworthiness by reviewing income, assets, liabilities, collateral, and compensating factors to assess overall lending risk and determine loan eligibility.
Exercise sound underwriting judgment by approving, suspending, counteroffering, or denying loan applications in accordance with established authority levels, agency guidelines, and credit union policies.
Evaluate and document loan exceptions, ensuring appropriate approvals, risk mitigation measures, and supporting documentation are obtained and maintained.
Utilize Direct Endorsement (DE) authority to underwrite and approve FHA-insured mortgage loans in accordance with HUD requirements and maintain compliance with all DE certification standards.
Perform underwriting activities for VA loans and apply knowledge of VA lending requirements; VA SAR authority preferred.
Underwrite USDA loans and maintain familiarity with Rural Development program requirements and eligibility guidelines.
Review loan documentation for accuracy, completeness, and compliance with federal and state regulations, investor requirements, and internal lending policies.
Identify, clear, or appropriately escalate underwriting issues, documentation deficiencies, and compliance concerns to ensure loans meet quality and salability standards.
Validate data integrity within the Loan Origination System (LOS) and maintain thorough documentation supporting underwriting decisions and audit requirements.
Remain current on changes to agency guidelines, investor requirements, underwriting trends, and regulatory developments affecting residential mortgage lending.
Deliver timely and accurate underwriting decisions that meet established service level agreements (SLAs) and support an exceptional member experience.
Partner closely with mortgage loan officers, processors, closers, and operations staff to resolve complex scenarios and facilitate efficient loan processing and closing.
Provide guidance, training, and mentorship to assigned operations staff regarding underwriting standards, agency requirements, and lending policy interpretation.
Serve as a subject matter expert on mortgage underwriting practices, government lending programs, and secondary market requirements.
Perform other duties as assigned, ensuring accountability and alignment with organizational objectives.