Mortgage Loan Services Underwriter

This is not a remote job.

We do not accept applications through this site. For online application and job description, please go to our website. https://www.coastccu.org/community/careers/

Job Summary

Under limited supervision, follows established credit union and FNMA procedures and guidelines. Evaluates and assesses the risk of approving all credit union mortgage loans by analyzing member financial information and property appraisals to determine their ability to repay the loan. Assists in processing the credit union’s mortgage loans from origination through funding. Ensure compliance with lending guidelines and regulation requirements are met. Serves as a mentor to other staff members.

Essential Functions

Actively practices the behaviors required by the credit union’s guidelines for Member Service in all interactions with internal staff and outside vendors.

Has some knowledge of credit union policies and procedures and FNMA to ensure compliance with all applicable lending regulations like RESPA and TILA, credit union policies and procedures, government guidelines and industry standards.

Works under loan response deadlines with frequent interruptions providing timely underwriting decisions.

Makes recommendations by approving, denying, or suspending mortgage loan requests in conformance with credit union policies and procedures and FNMA. Informs appropriate mortgage loan staff of credit decisions.

Identify and mitigate operational risks associated with mortgage lending, including fraud, compliance and credit risks.

Ensure sound credit and underwriting decisions relating to portfolio, saleable and non-saleable mortgage loans.

Is responsible for staying up to date on Fannie Mae regulations and secondary market changes as needed.

Provides guidance, and support for Mortgage Services staff, Mortgage Lending staff and other credit union staff.

Preserves member confidentiality.

Must work harmoniously with other employees.

Performs other duties as assigned.

Required Knowledge, Skills, and Abilities

Some knowledge of residential mortgage loan products: Including conventional, ARM and other specialty programs, and their associated requirements and documentation.

An understanding of the entire mortgage loan lifecycle: This includes origination, processing, underwriting, closing, and post-closing functions.

Understanding of real estate lending practices: This extends beyond mortgage-specific knowledge to include regulatory requirements, agency standards (such as FNMA guidelines), and Credit Union requirements.

Credit requirement analysis skills: Ability to assess and evaluate creditworthiness and loan eligibility based on financial and credit information, including analyzing tax returns

An ability to effectively communicate in person, by phone and in writing with tact and professionalism.

Understand and respond to complex written and verbal communications.

Mental acuity is necessary to understand and abide by rules of confidentiality regarding member and employee information.

Perform and understand complex mathematical calculations, including the ability to underwrite and analyze financials, help develop budgets, perform cost benefit analysis and other projects that require abstract reasoning.

Ability to conceptualize loan analysis and other projects requiring abstract reasoning and judgment.

Requires a working knowledge of office practices and procedures, including data processing, the ability to make mathematical computations, strong computer skills including Microsoft Office Suite proficiency (Word and Excel preferred).

Advanced proficiency in loan origination systems (LOS): Familiarity with LOS software, automated underwriting systems, processing and tracking programs.

Education and Experience

College Degree or High School graduate and equivalent work experience.

A minimum of three years’ experience as a Sr. Mortgage Loan Services Processor (or comparable position) or two years’ experience as a Mortgage Operational Specialist (I) (or comparable position) in a credit union, mortgage industry field or financial institution.

Must have a basic knowledge of secondary market, FNMA, and credit union guidelines for underwriting and documentation.

Additional Requirements

Incumbent must be bondable.

Physical Demands

This is a moderately sedentary office classification although standing and walking between work areas is required. Individual(s) in this class must possess the mobility to work in a standard office setting and use standard office equipment, including a computer; visual acuity to read printed materials and a computer screen; and hearing and speech to communicate in person, before groups, and over the telephone. Finger dexterity is needed to access, enter, and retrieve data using a computer keyboard or calculator at a reasonable speed, and to operate standard office equipment. Person(s) in this classification occasionally bends, stoops, kneels, reaches, climbs, and walks; and pushes and pulls drawers open and closed to retrieve and file information. Employee must possess the ability to lift, carry, push, and pull materials and objects weighing up to 10 pounds regularly, and up to 50 pounds occasionally. Works in an office environment with moderate noise levels.