Mortgage Loan Underwriter - Middletown, NY

Heritage Financial Credit Union • City of Middletown, NY

7d • $29 - $36 • Onsite

About The Position

Heritage Financial Credit Union is seeking an experienced Mortgage Loan Underwriter to evaluate credit, income, assets, and loan documentation to make sound lending decisions. The ideal candidate will have strong knowledge of conventional, FHA, VA, and USDA loans, with a proven ability to balance risk, compliance, and customer service. This role is responsible for underwriting first mortgage loan applications, approving or denying them based on analysis, and will have lending authority as determined by management. The position will also assist in underwriting second mortgages and HELOCs, mentor Mortgage Processors, and potentially generate reports for senior management. The Credit Union is a member-owned financial institution committed to helping members achieve their financial goals and building a stronger community, fostering a culture of excellence where employees thrive.

Requirements

• Four-year bachelor's degree in business.
• Two plus years’ experience in Mortgage/Home Equity underwriting.
• Knowledge of accounting principles, underwriting and compliance guidelines.
• Good communication skills.
• Working knowledge of Bank Secrecy Act (BSA) requirements.
• Experience using P.C. based software including Microsoft Office.
• Ability to project a professional appearance and positive attitude at all times.

Nice To Haves

• Strong knowledge of conventional, FHA, VA, and USDA loans.

Responsibilities

• Underwrite first mortgage loan applications, reviewing required loan information and analyzing applicant's credit history.
• Approve or deny loan applications based on analysis, maintaining a complete working knowledge of RESPA, HMDA, Truth in Lending, and all necessary lending compliances.
• Maintain a thorough understanding of FNMA conventional Mortgage underwriting guidelines, as well as all applicable private mortgage insurance guidelines and procedures.
• Set pricing for mortgages using FNMA pricing model and HFCU’s FNMA and Portfolio Premium Target procedures.
• Use FNMA Desktop underwriter to receive approval/decline decision on Mortgages.
• Commit /Sell loans to FNMA at desired profitability and in accordance with FNMA and HFCU policies and procedures.
• Maintain a thorough understanding of HFCU that fall within those parameters.
• Refer Mortgage loans to Mortgages Partner(s) as necessary.
• Assist Financial Service Representatives with the loan application process to ensure completeness of information.
• Review and Approve/Deny Real Estate Lending Appraisals in accordance with HFCU policy.
• Review and Approve/Deny Real Estate Title work and Insurance work, including Flood Insurance in accordance with HFCU policy.
• Calculate debt-to-income ratios on loan applicants and how much of a loan applicant's debt is secured or unsecured.
• Review Real Estate Loan Reworks and determine collateral needs and payment plans.
• Explain reasons for declines and provide counter offers whenever possible.
• Process adverse action notices for declined loans.
• Verify the accuracy of loan amounts and repayment terms on approved loan applications.
• Perform responsibilities of position in accordance with federal and state regulations, credit union policies and procedures.
• Assist in training new employees.
• Recommend changes to improve workflow, efficiencies and quality.
• Cross-sell credit union products and services as appropriate.
• Process/Analyze/Maintain Lending Department reports as assigned.
• Meet Core Competency Requirements.
• Meet or exceed the objectives set for accuracy, volume and profitability of all real estate loans as well as meet or exceed established service level and business unit strategic goals.
• Collaborate effectively with branch personnel, processors and other underwriters to ensure that loan applications are fully completed, the necessary supporting documentation is received, and the loan closes properly.
• Work together with all areas of lending including origination, consumer lending, servicing, and collections to ensure an efficient, effective team-based division.
• Participate in department and/or strategic projects as directed.
• Serve as a resource on real estate products/services of the Credit Union; respond to internal and external loan related member questions & research; may provide guidance on real estate lending practices, loan policies and procedures.
• Recommend operational procedures to increase effectiveness of department operations.
• Perform other related and unrelated duties as requested and therefore required.
• Assist in the underwriting of second mortgages and HELOCs as needed and assigned by the Real Estate Lending Manager.
• Work with the Mortgage Processor in the capacity of coaching and mentoring on all aspects of mortgage underwriting.
• Generate reports for senior management as directed by the Real Estate Lending Manager.

Benefits

• Paid Time Off & Paid Federal Holidays
• Medical, Dental, Vision & Life Insurance
• Employee Assistance Program
• Flexible Spending Accounts (FSA)/Health Savings Accounts (HSA)
• Supplement Benefits: Critical Illness Care, Identity Theft Protection, Pet Insurance, Legal Services
• BenefitsPlus+ perks program (travel, entertainment, gift cards and so much more)
• CareNet - benefits concierge service
• 401(k) with 5% Employer Match
• Educational Assistance
• Paid Time to Volunteer
• HFCU Logo-wear

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level