ESL Federal Credit Union

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Mortgage Underwriter

at ESL Federal Credit Union

Posted: 6/2/2020
Job Status: Full Time
Job Reference #: 70b148ad-0b67-4616-b42c-cb600285b8fa
Keywords: credit

Job Description

Hours:

40

Schedule:

Monday - Friday 8:00 a.m. - 5:00 p.m. Must be flexible to meet current and future business needs.

Primary Accountability:

Responsible for rendering a decision for mortgage loan applications while warranting all guidelines are met and file complies with ESL FCU, National Credit Union Administration (NCUA), Secondary Market, Federal, State, local rules and regulatory compliance standards while determining the capacity to repay.

Principle Accountabilities:

Underwrites mortgage loan applications
  • Responsible in rendering a decision on mortgage loans according to pertinent information provided by the borrower.
  • Responsible for verifying employment and income, reviewing credit history, computing borrower assets, reviewing collateral and assessing credit risk.
  • Ensure that property along with all terms of loan meet requirements of ESL and with all other government regulations.
  • Document file with relevant reasons for approval, change in loan terms or declination.
  • Sends commitment letter to authorized parties along with other required disclosures.
  • Reviews tax returns or other documentation for pre-approvals .
  • Thorough knowledge related to the different grant programs ESL participates in.
  • Utilizes live pipeline reporting to ensure expectations are met and to adhere to the department’s service level agreements and issues commitments timely.
  • Demonstrates ESL’s CORE Values with all internal and external interactions.
  • Back up to Underwriter, Senior Underwriter or Manager, Processing and Underwriting as required.
Other
  • Responsible for AllRegs review of new or updated guidelines from Secondary Market and communicates changes to the department or other stakeholders. May include training of staff.
  • Reviews and validates low appraisals. Responsible for communication back to Appraisal Management Company with any disputes.
  • Provides explanation or answers mortgage qualifying questions.
  • Completes re-disclosures if necessary after loan application has been approved.
  • Provides assistance, feedback and quality review to peers.
  • Responds to investor QC findings.
Attends all required meetings and trainings on investor, agency, state and federal rules and regulations.
  • Engages in team meetings, participates in group activities, attends assigned trainings and looks for opportunity to increase skill set.
  • Participates in process discoveries, iVisits, side by sides, local/corporate projects and/or special assignments requested by Manager.
  • Provides back up support to other departments as needed.

Qualifications:

  • Bachelor's degree or 4 years of equivalent directly related experience
  • Minimum of four years’ first mortgage experience with state and federal regulations
  • Expert knowledge of conventional and/or government loan underwriting and selling guidelines
  • Experience using AllRegs preferred
  • Experience using Encompass preferred
  • Excellent analytical, interpersonal and verbal and written communications skills
  • Detailed knowledge of secondary market regulations and ability to apply these guidelines to all situations
  • Thorough knowledge of complex personal and business financial analysis, tax returns and balance sheet analysis
  • Strong negotiation and problem solving skills
  • Strong background in PC applications
  • Detail-oriented with strong ability to time management.
  • Able to work in fast-paced environment with ability to manage multiple priorities to meet business demands
  • Strong background in PC applications and systems- paperless environment preferred
  • Must complete submission of application to the NMLS within the first week of employment and subsequently be successfully registered as a Mortgage Loan Originator.