Mortgage Underwriter I

COASTAL1 CREDIT UNION•Pawtucket, RI

8d•$48,549 - $63,038•Onsite

About The Position

Coastal1 is looking to hire an experienced Mortgage Underwriter I in our Real Estate Lending Department! The Mortgage Underwriter I, under the direction of the VP Real Estate Lending, will be responsible for underwriting and evaluating residential mortgage loans. This role requires ON SITE availability in Pawtucket, Rhode Island.

Requirements

Minimum of a high school diploma or equivalent required.
At least 1 year demonstrated successful lending function or closely related field experience required
Must register/be registered by the Nationwide Mortgage Licensing System and Registry.
PC Proficiency to include Microsoft Office and other banking software.
Excellent communication skills, both written and verbal.
Must understand basic math concepts.
Ability to manage multiple priorities simultaneously with time management/organizational/multi-tasking skills.
Must be able to work under pressure and have the ability to meet deadlines.
Ability to maintain a positive and upbeat Credit Union image.
Ability to handle confidential information securely.
Must be capable of accurate and timely performance of duties.
Ability to work collaboratively across all levels and functions of Coastal1 to coordinate solutions.

Nice To Haves

Associated degree preferred.
Mortgage lending experience preferred.
Bi-lingual helpful

Responsibilities

Review and evaluate residential mortgage applications and documentation to determine if borrower, property, and loan conditions meet investor, FNMA and/or FHLMC underwriting guidelines and render a loan decision ensuring completeness, accuracy, and compliance.
Review all documentation submitted in a file for compliance with product and investor guidelines, borrower validation, ability to repay and risk mitigation.
Calculate income and assets accurately and require sufficient documentation to support findings and decision. Follow AUS findings is a requirement with no exceptions. Adhere to overlays as dictated by the private investors, agencies and Coastal1.
Make adjustments to underwriting as necessary based on QC findings.
Ensure loans meet the Ability to Repay (ATR) rules established by the Consumer Financial Protection Bureau (CFPB) by considering and documenting the following eight underwriting factors, such as: employment status, debt obligations, etc.
Make an underwriting decision on each loan file within determined underwriting service level agreements and effectively communicate all underwriting decisions to the appropriate parties.
Confer with Loan Officer and/or Mortgage Processor to aid in resolving mortgage application conditions.
Enter all underwriting conditions and all HMDA data specific to the underwriting decision into Encompass LOS system.
Order PMI as per investor and program requirements through approved PMI companies.
Ensure compliance with Coastal1's Bank Secrecy Act/Anti-Money Laundering Policy and related procedures, Member Identification Program, and the Office of Foreign Assets Control screening and record keeping requirements.
Analyze, evaluate and decision loan request according to applicable underwriting procedures.
Acts as back-up to a Mortgage Processor when needed.
Make recommendations to the VP/Real Estate Lending Manager of any possible exceptions.
Perform other duties as required