Real Estate Loan Underwriter

Credit Union West•Glendale, AZ

43d

About The Position

Responsible for a range of loan compliance and underwriting guidelines for real estate loans. Provides underwriting reviews of mortgages and home equity loans, validating loan documentation, closing and funding practices. Supports sound lending practices by actively engaging and participating in mortgage conferences and discussions among peers and colleagues, tracking real estate loan production and trends, and meeting the lending objectives of the credit union. Monitors advancements in lending processes, suggests methods for streamlining real estate lending practices. Empowers a professional environment by delivering a service excellence attitude that builds trust and loyalty to inspire our members, employees, and communities to achieve their financial goals and enhance their quality of life.

Requirements

Equivalent to a two-year college degree or completion of a specialized course of study at an accredited educational facility preferred.
5-8 years of experience in mortgage loan processing including mortgage related requirements, procedures, and underwriting criteria, preferably in a Credit Union or financial institution.
Thorough knowledge and understanding of RESPA TIL, NMLS, HDMA Federal Compliance.
Live the mission, vision, and core values of the credit union.
Able to communicate effectively and tactfully with employees and members both orally and in writing.
Demonstrate critical thinking and being self-reliant to better analyze and solve problems.
Effective time management and organizational skills. Ability to multi-task and be agile to serve members and employees.
Maintain working knowledge of Microsoft Office, SharePoint, and collaborative tools (Teams and Zoom).
Thorough knowledge and understanding of organization's Employee Handbook and policies.
Must demonstrate a functional knowledge of the Bank Secrecy Act in addition to other Federal laws, including but not limited to U.S. Patriot Act, Office of Foreign Assets & Control, Anti-Money Laundering, Right to Financial Privacy Act, and the Bank Bribery Act.

Responsibilities

Underwriting - Maintains and utilizes knowledge of the mortgage and home equity process: underwriting, credit loan analysis, property appraisal, title work, disbursement, and accounting entries. Understands and can effectively apply mortgage lending policies to all mortgage lending situations. Actively promotes a Risk Based Lending environment by demonstrating application development and solid underwriting knowledge. Underwriter non owner occupied 1-4 family residential loans. Makes credit card underwriting decisions. Review and analyze income from both personal and corporate tax returns. Communicate decisions on loans to appropriate parties both verbally and in writing. Verifies and analyzes applicant financial status, credit, and property evaluation to determine feasibility of granting modification. Preparation of credit information necessary to for a decision, including such factors as applicant's assets, credit experience and explanations.
Business Communications and Relationships - Consult with the Processing and Closing departments to ensure that all underwriting conditions are met prior to closing the loan. Work with Loan Originators to review and verify all application information is correct.
Quality Control- Maintains awareness of changes in the credit granting field, including government regulations, technological advancements in computerized credit granting and processing, consumer needs and preferences, and related. Assures that mortgages are properly priced with relation to rate, fees and points. Ensures 1st mortgage loans are underwritten within guidelines of GSEs requirement to enable loans to be sold on the secondary markets. Makes recommendations to Real Estate Manager if adjustments are required. Maintains loan documents in compliance with policy and state and federal regulations. Corresponds with or interviews applicant or creditors to resolve questions regarding modification information. Notifies member if loan is delayed because of underwriting ratios or credit ratings. Advises a member of loan modification approval or denial. Explains modification denials precisely and clearly to members.
Performs other duties as assigned.