Senior Mortgage Underwriter

LMCU • Grand Rapids, MI

13d • Hybrid

About The Position

The Senior Mortgage Underwriter’s responsibilities include analyzing and verifying complex loan applications, evaluating risks, and making loan eligibility decisions. A successful Senior Mortgage Underwriter should be able to exercise sound judgment based on detailed analysis and ensure that all documentation is in compliance with the relevant regulations for more complex loans.

Requirements

• 5+ years of similar or related experience, including preparatory experience.
• 3+ years’ experience of mortgage underwriting required.
• A high school diploma is required; higher education is strongly preferred.
• Understanding of current mortgage loan interest rates, commitment/rate lock/relock fee procedures, and consumer loan products including Execulines, second mortgage products, swing loans, and land loans
• Proficiency with CollateralUnderwriter application and loan origination software systems.
• Understanding of Adverse Action guidelines and HDMA-related functions

Nice To Haves

• Experience with Empower/BlackKnight, LoanBeam, and DataVerify preferred.

Responsibilities

• Underwrites more complex mortgage loan applications including review of credit and collateral for all loan applications, income, and assets (including self-employment income). As part of the process, the Underwriter will approve, counteroffer, or decline residential loan applications within delegated lending authority, ensuring that files are fully underwritten to applicable guidelines including those of the secondary market.
• Analyzes and reviews appraisal reports and requests clarifications or corrections from vendor.
• Works as a team with the Loan Processors and Sales in regards to questions on loan structure and guideline adherence.
• Maintains a working pipeline while ensuring productivity levels are met and credit quality meets all defined standards.
• Updates information on loan origination systems to verify, add, and satisfy conditions.
• Stays current with various industry and organizational trends and changes including changes with underwriting guidelines, mortgage products, and PMI updates, while also serving as a subject matter expert in various areas related to mortgage underwriting.
• Must comply with applicable laws and regulations, including but not limited to, the Bank Secrecy Act, the Patriot Act, and the Office of Foreign Assets Control.
• Consistently demonstrates a commitment to the culture of Lake Michigan Credit Union. They exhibit the core values of Curious Minds, Collaborative Hearts, and Continuous Excellence, and contribute to helping all members achieve dreams for a lifetime.

Benefits

• weekly pay and retirement savings options.
• comprehensive health coverage including medical (with prescription), dental, vision, HSA match, paid parental leave, and tuition reimbursement.

What This Job Offers

• Job Type: Full-time
• Career Level: Senior
• Education Level: High school or GED
• Number of Employees: 1,001-5,000 employees