Mortgage Underwriter

WORKERS FEDERAL CREDIT UNION•Wyandotte, MI

10d•Hybrid

About The Position

FUNCTION: Responsible for underwriting first mortgages and home equity loan applications. Ensures all files are complete and compliant with Workers Credit Union policies, investor requirements, mortgage insurance standards, and applicable government loan regulations.

Requirements

2-5 years of experience in secondary mortgage underwriting. Knowledgeable in real estate lending guidelines and regulations including secondary market. Skilled in evaluating borrower credit, collateral, and capacity in accordance with investor and regulatory guidelines. Proficient in using loan origination systems (LOS) and automated underwriting systems (AUS). Known for sound judgment, attention to detail, efficiency in pipeline management, and effective communication with Originators, Processors, and Closers to ensure timely and accurate closings.
High School Diploma or Equivalent Required.

Nice To Haves

5-8 years of experience in secondary mortgage underwriting, including complex loan types such as jumbo, construction, non-conforming and portfolio products. Demonstrated ability to assess risk, make high-level credit decisions, and mentor junior underwriters. Experienced in leading underwriting process improvements and maintaining high-quality standards in a fast-paced environment. Recognized for attention to detail, leadership, and commitment to confidentiality and organizational values.

Responsibilities

Underwrites first mortgage loans in compliance with all secondary market requirements, private mortgage insurance requirements, regulatory requirements and Workers Credit Union policies.
Underwrites home equity loans in accordance with private mortgage insurance requirements, regulatory requirements and Workers Credit Union policies.
Evaluates borrower creditworthiness and collateral to determine loan eligibility and assess overall risk to the credit union.
Exercises sound judgment in approving, suspending, or denying loan applications based on a comprehensive risk analysis.
Uses analytic tools (i.e. Collateral Underwriter, fraud prevention, etc.) in the risk assessment of the loan to determine requirements to meet legal and investor requirements.
Ensures underwriting decisions align with the credit union’s risk appetite, lending policies, and regulatory requirements.
Remains current on investor and mortgage insurance guidelines.
Prepares commitment letter for home equity and first mortgage loans.
Clears loans for closing by ensuring pre-closing conditions have been satisfied.
Reviews and decisions subordination requests according to loan policy.
Provides the origination staff with support for the review of preapprovals.
Uses knowledge of investor and mortgage insurance guidelines along with loan policy to not only approve loans as submitted but to restructure loans as required to obtain an approval.
Tracks key milestones such as contingencies, closing dates, and rate lock expirations; communicate proactively with all applicable teams.
Collaborates with internal stakeholders to resolve complex loan issues and ensure timely decision-making.
Prepares and issue revised Loan Estimates in compliance with TRID for any changes in circumstance.
Maintains confidentiality of all data.
Upholds the Workers Credit Union “Workers Way” culture through daily interactions and behaviors.
Performs other duties as assigned to support departmental and organizational goals.