Mortgage Underwriter

Mountain America Credit Union•West Jordan, UT

2d•Onsite

About The Position

Underwrites, gathers and verifies all necessary information provided by the Mortgage Loan Officer in compliance with credit union policies, procedures and NCUA/CFPB regulations. Accurately analyzes lending reports and make recommendations on improving lending practices. Runs Loan Quality Initiative and prepares for closing. To be effective, an individual must be able to perform each essential duty successfully. Demonstrates strong analytical abilities when running and analyzing automated underwriting systems for Freddie MAC and Fannie Mae (LP and DU). Also strong communication skills when approving and denying Secondary Market purchases and mortgage refinancing requests and recommending approval and denials up to $750K. Provides strong expertise in Secondary Market, CFPB, NCUA regulations regarding Ability to Repay, TRID, Fair Lending. Provides thorough understanding of MACU portfolio programs as well as secondary market guidelines for external investors (learning over 60+ different programs, their processes and guidelines). Calculates and verifies income and employment in accordance with CFPB “Ability to Repay” regulations and MACU guidelines. Evaluates and analyzes borrower’s credit reports Calculates income from personal and business tax returns in accordance with secondary market guidelines and CFPB Ability to Repay (ATR) regulations. Evaluates appraisals for accuracy, addresses any concerns regarding comparables with appraiser Provides analysis of title reports, eliminating any risks for junior liens, addressing any shared well, egress issues, ensuring MACU has first position on all title work Reorders and evaluates any verification of deposits, employment verifications, tax transcripts, subordinations and assess any concerns – through LQI Understands Secondary Market, NCUA, CFPB TRID/Real Estate mandated disclosures and their proper distribution in accordance with rules and regulations, as well as the impacts those have to the regulations have on loan decisioning, loan timing, loan closing, borrower access to funds, etc. Resolves a range of complicated issues with a high degree of interpersonal skills when working with loan officers, borrowers, Sr. Underwriters and closers.

Requirements

1 - 3 years of similar or work related experience
Four year college degree or equivalent in job related history.
Must be able to qualify for an NMLS number under S.A.F.E Act
Courtesy, tact, and diplomacy are essential elements of the job. Work involves much personal contact with others inside and/or outside the organization for purposes of giving or obtaining information, building relationships, or soliciting cooperation.
Must have the ability to read and interpret documents such as safety rules, operating and maintenance instruction, and procedure manuals.
Knowledge of real estate lending, Credit Union policies/procedures, compliance, and lending regulations.
Must have excellent customer service, leadership, communication, organizational and analysis skills.
Ability to write routine reports and correspondence.
Ability to speak effectively before groups of employees, members, or clients.
Intermediate to Advanced skills in the following: Adding machine/10-Key, computer operating skills (windows navigation, mouse/keyboard functionality), Microsoft Outlook, Microsoft Office Suite.
Must have the ability to type a minimum of 35 words per minute.
Maintains confidentiality with others since information involves complex, detailed and often sensitive topics.

Nice To Haves

Strong analytical abilities when running and analyzing automated underwriting systems for Freddie MAC and Fannie Mae (LP and DU).
Strong communication skills when approving and denying Secondary Market purchases and mortgage refinancing requests and recommending approval and denials up to $750K.
Strong expertise in Secondary Market, CFPB, NCUA regulations regarding Ability to Repay, TRID, Fair Lending.
Thorough understanding of MACU portfolio programs as well as secondary market guidelines for external investors (learning over 60+ different programs, their processes and guidelines).

Responsibilities

Underwrites, gathers and verifies all necessary information provided by the Mortgage Loan Officer in compliance with credit union policies, procedures and NCUA/CFPB regulations.
Accurately analyzes lending reports and make recommendations on improving lending practices.
Runs Loan Quality Initiative and prepares for closing.
Demonstrates strong analytical abilities when running and analyzing automated underwriting systems for Freddie MAC and Fannie Mae (LP and DU).
Approves and denies Secondary Market purchases and mortgage refinancing requests and recommending approval and denials up to $750K.
Calculates and verifies income and employment in accordance with CFPB “Ability to Repay” regulations and MACU guidelines.
Evaluates and analyzes borrower’s credit reports.
Calculates income from personal and business tax returns in accordance with secondary market guidelines and CFPB Ability to Repay (ATR) regulations.
Evaluates appraisals for accuracy, addresses any concerns regarding comparables with appraiser.
Provides analysis of title reports, eliminating any risks for junior liens, addressing any shared well, egress issues, ensuring MACU has first position on all title work.
Reorders and evaluates any verification of deposits, employment verifications, tax transcripts, subordinations and assess any concerns – through LQI.
Understands Secondary Market, NCUA, CFPB TRID/Real Estate mandated disclosures and their proper distribution in accordance with rules and regulations, as well as the impacts those have to the regulations have on loan decisioning, loan timing, loan closing, borrower access to funds, etc.
Resolves a range of complicated issues with a high degree of interpersonal skills when working with loan officers, borrowers, Sr. Underwriters and closers.
Develops and maintains quality time frames and management of pipeline to achieve and meet required REPC purchase contracts.
Other duties as assigned.