Mortgage Underwriter II

Quorum Federal Credit Union•Purchase, NY

2d•$80,000 - $90,000•Remote

About The Position

Mortgage Underwriter II Why You’ll Love Working at Quorum At Quorum Federal Credit Union, we are a cutting-edge credit union that operates as a technology company, delivering innovative financial solutions to our members. As a remote organization, we thrive on collaboration and recognize outstanding performance. We are the ideal workplace for self-motivated individuals who are committed to organizational success and eager to join a dynamic team of professionals. We stand out as a best-in-class employer, offering a unique and supportive work environment that fosters personal and professional growth. Our culture is built on valuing teamwork, recognizing achievements, and providing the tools and resources needed to excel. If you are looking for a place where you can make a meaningful impact, enjoy a flexible and fulfilling work experience, and be part of a forward-thinking team, Quorum Federal Credit Union is the perfect fit for you. How You’ll Make an Impact We strive for innovation and new ways to solve complex problems to deliver on our promise in creating Banking That’s Good. For You. As a Mortgage Underwriter II you will be responsible for independent analysis of highly complex residential mortgage applications and making sound credit decisions in accordance with investor, agency, and company guidelines. This position supports high application volumes and must consistently achieve production levels, turn times and accuracy expectations. Additionally, this role demonstrates adaptability, embraces new technologies, and contributes to the continual improvement of the underwriting process.

Requirements

Bachelor’s degree in finance, business administration or other related degree preferred.
Minimum of six to ten years of related experience at a credit union, bank or other financial institution.
Excellent problem-solving, organizational, analytical, verbal and written communication skills.
Strong decision making and time management skills with the ability to manage multiple projects/duties.
Results driven, service oriented, self-motivated and able to work independently.
Detailed knowledge of secondary market guidelines.
Some knowledge of regulatory guidelines and issues.
Complies with all requirements for Mortgage Loan Originators set forth in the SAFE Act, including, but not limited to successful completion of the required background checks and obtaining a Unique Identifier from the NMLRS.
Trustworthy with the ability to maintain highest level of integrity and trust.
Proficiency in Microsoft Office, specifically Word, Excel and PowerPoint.
Related experience with Encompass loan origination systems

Responsibilities

Complexity: Analyze and independently underwrite highly complex mortgage products and scenarios, within level of authority. Loan products will evolve over time with our strategic direction, market demand, and alignment with investor and regulatory demands. Loan scenario complexity includes but is not limited to large loan balance, layering risk, varying income sources, multiple income streams, and loan exceptions.
Compliance: Underwrite all mortgage loan files in compliance with secondary market guidelines, specific product guidelines, credit union policies and procedures, and banking/Credit Union regulatory requirements.
Risk Assessment: Exercise sound, common-sense judgment when evaluating overall loan risk and determining loan eligibility ensuring decisions align with company risk tolerance and lending policies. 4 .
Production and Turn Times: Achieve required daily production levels and established turn times. Production expectations will increase over time with product/process streamlining and automation.
Accuracy: Review and validate standard documentation such as income, asset, credit, and collateral. Maintain exceptional accuracy and consistency in all underwriting functions, ensuring that system data and calculations (e.g., DTI, LTV, rate, and other loan metrics) are accurately updated and aligned with documentation, with minimal to no errors
Technology Utilization: Utilize provided automation solutions to ensure efficiency and operational controls. Automation may include but is not limited to Automated Underwriting System (AUS), income calculation, and more. Adopt new automation tools, systems, and process changes as implemented.
Loan Stages: Must perform underwriting functions in all stages of the application, including but not limited to initial underwriting decision, reviewing and approving conditions, and completing the final underwriting decision.
Pipeline Management: Manage daily pipelines efficiently by prioritizing tasks and communicating proactively with processors and loan officers. This will include managing loans from multiple lending channels including retail, wholesale and correspondent, as well as managing loans in various stages of the application process.
Escalation: Identify and escalate higher-risk or exception files to senior underwriting staff as appropriate.
Continuous Learning: Stay current with underwriting guidelines and technology and attend training sessions to build product and regulatory knowledge.
Collaboration: Exhibit a positive and collaborative team attitude, assisting peers and contributing to a supportive work environment. Maintains a positive work atmosphere by communicating in a manner consistent with professional standards to work effectively with members, co-workers, management, partners and vendors.
Other Duties: Performs additional duties as required.

Benefits

Excellent health insurance packages with a Health Reimbursement Account option
Life, AD&D, Short-Term Disability and Travel Insurance
401k plan with company match dollar for dollar up to 6 percent
Generous time-off policy with paid time off (PTO), volunteer time off (VTO), birthday PTO, and company-observed holidays
Monthly stipend for wellness activities and mental health
Tuition reimbursement
Pet Benefits, including insurance, discounts, “pawternity” PTO day, and more
Bonus/commission plan for qualifying roles
Employee perks (including mortgage discounts!)
PTO purchase and sell-back programs
Rewards and peer recognition programs
Trust-based, out-come oriented remote work environment for most roles