Underwriter III

AMPLIFY CREDIT UNION • Austin, TX

1d • $75,000 - $95,000 • Remote

About The Position

As a growing, tech-focused credit union, Amplify Credit Union delivers value to our members through our products and impact to our community through our profits. That unique intersection is one reason we’ve been named a Top Workplace by the Austin American-Statesman seven years in a row. We’re also proud to say that we’re the only full-service financial institution that doesn’t have deposit fees of any kind. We’re looking for teammates who are inspired by our mission and ready to grow their careers. As they do, our employees can expect Amplify to uphold our commitments to culture, community, inclusion, and more. Position Summary The role of the Mortgage Loan Underwriter III is to analyze, assess and decision mortgage loans for Amplify Real Estate lending in accordance with Amplify lending guidelines, secondary market guidelines, state and federal regulations. The incumbent must stay abreast of internal lending policies, practices, guidelines, lending systems and products, as well as external regulatory and economic environments. The role is responsible for the review of all loan documentation to ensure accuracy, completeness and compliance with internal, regulatory, private mortgage insurance and investor guidelines in order to decision in a timely, accurate manner. Develops sound working relationships with the Real Estate Production team to ensure accurate and timely decisions are made and communicated effectively to support a quality member service experience.

Requirements

• High school diploma or GED.
• Minimum of 7 years of mortgage lending experience and/or training including a minimum of 5 years of mortgage underwriting experience including conventional underwriting; or equivalent combination of education and experience.
• If education is being substituted for experience, emphasis on business finance, mortgage lending, and/or real estate courses required.
• Must be bondable.
• To perform this job successfully, an individual should have knowledge and be efficient with the use of a personal computer, Microsoft Office applications, Credit Bureau Systems and financial calculators.
• Proficient in Fannie Mae’s Desktop Underwriter (DU) and Freddie Mac’s Loan Product Advisor (LPA).
• Must have reliable internet access of 50MBPS which is the minimum speed required to connect to several of our systems and platforms.
• Must have excellent judgment skills to make quick decisions within written policy and standard operating procedures.
• Requires working knowledge of the Credit Union's products and services, internal policies, and the Credit Union Act, including bylaws and regulations applicable to state-chartered credit unions.
• Must possess a comprehensive understanding of income tax documentation, including but not limited to sole proprietorships, S-corporations, C-corporations, partnerships, and limited liability companies.
• Must be able to interpret, apply, and recommend revisions to standard operating procedures and demonstrate familiarity with applicable state and federal regulations, including NCUA requirements.
• Additional regulatory knowledge must include, is not limited to, HMDA, Regulation Z, Regulation B, and the rules and processes associated with major mortgage investors and private mortgage insurers.
• Knowledge of secondary-market eligibility requirements and investor delivery standards, including the impact of underwriting decisions on loan salability, is required.
• Experience with automated underwriting systems, including Desktop Underwriter and Loan Product Advisor, and with preparing loan files that meet investor delivery standards, is required

Nice To Haves

• Bachelor’s degree in business or related field is preferred.
• FHA and VA underwriting experience including DE and LAPP designations are a plus.
• Knowledge of Encompass, a plus.

Responsibilities

• Acts as the subject matter expert in the area of determining credit and collateral risk; provides support and general direction to underwriters within authority prescribed by management
• Supports and assists the Director – Mortgage Underwriting and the VP- Real Estate Operations in ensuring established performance and customer service goals are met by monitoring and facilitating daily workflow of underwriting activities; accountable for meeting established decision time parameters
• Conducts problem resolution for non-routine underwriting issues; reviews exceptions from policy, guidelines and procedures to render appropriate decisions within prescribed limits and communicates the course of action and reasoning behind it, notating file and systems as required
• Approves or denies real estate loans within his/her assigned underwriting authority in accordance with applicable investor, private mortgage insurer, and down payment assistance program guidelines, as well as internal Credit Union policies.
• Prepares and submits recommendations for loan approvals that exceed individual underwriting authority, ensuring such recommendations align with Amplify policies and all relevant investor standards.
• Performs mortgage credit analysis, with or without the assistance of an automated underwriting system, to determine borrower’s willingness and ability to repay the loan to include verifying the member’s ability to repay through analysis of credit, loan ratios, documented income and assets, and collateral; evaluates risk to ensure a prudent decision is made
• Reviews and approves appraisals and alternate valuation reports for property eligibility and ensures the collateral meets program guidelines
• Maintains commanding knowledge of regulatory compliance, trends and methodologies affecting all loan products
• Professionally and clearly communicates the credit decision and underwriting conditions to the Loan Originator, Loan Processor, and Loan Closer, and works with them to resolve issues
• Assists secondary marketing in resolving eligibility issues related to the purchase of loans by a secondary market investor
• Supports Collections and Loss Mitigation efforts with credit and collateral analysis functions
• Supports Real Estate management in development and implementation of underwriting policy and procedures
• Analyzes, assesses, diagnoses and tests for accuracy and efficiency all processes and procedures related to mortgage underwriting activities
• Upholds credit union policies and procedures and champions organizational culture both internally and externally

Benefits

• Medical, Dental, and 401(k) programs for team members.
• Customized volunteer opportunities with our signature partners (Saint Louise House).
• Additional paid time off for volunteer-related activities.
• Undergraduate and graduate tuition benefits for eligible full-time and part-time team members.
• This role offers a pay range of $75,000 - 95,000. It also entails the benefits available to all Amplify employees, including a 401(k) with a company match of 100% on the first 5% you contribute.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: High school or GED