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Mortgage Loan Underwriter

Company: Glass City Federal Credit Union
Location: Maumee
Posted on: May 16, 2022

Job Description:

Job DescriptionSummary:Responsible of reviewing and analyzing all mortgage loan applications, including home equity, ensuring compliance with credit union policies and regulatory guidelines. Serve as a back up underwriter for consumer applications.Position Type/Expected Hours of Work:This is a full-time position. Days and hours of work are Monday through Friday, 8:30 a.m. to 5 p.m. Rotating Fridays until 6 p.m. and Saturdays 8:30 a.m. to 12:00 p.m. Occasional evening and weekend work may be required as job duties demand.Essential Duties and Responsibilities:Review/Analyze all mortgage, including home equity, loan files submitted from borrowers to ensure file meets loan guideline requirements.Analyze the entire credit package and collateral to ensure an investment quality loan product, credit worthiness of the borrower(s) and acceptability of the collateral. Check the accuracy of all calculations and loan documentation provided. Work with originators, securing any additional documents needed.Approve or deny applications based on authority, credit union policy and investor guidelines. Recommend approval/denial for those in excess of authorized limits. On mortgage loans, identify potential quality loans to be held in portfolio if secondary market guidelines cannot be met. Communicate approval/denial decision to appropriate staff and/or member and explore other options when applications are denied, counter offer as applicable. Utilize consultative approach with members when providing financial counseling regarding denied loan applications. Prepare commitment letters for mortgages, adverse action notices for denials, withdrawals and counter offers, entering applicable data into systems for tracking and regulatory purposes.Serve as a back up to the Loan Officer, approving/denying consumer loans and credit card applications by following credit union guidelines.Process, review, decision and assist in the preparation of other consumer/mortgage credit requests, such as subordinations, modifications, extensions and full/partial releases. Complete the maintenance and data input within the core system on those requests.Provide support for all loan processing activities including being available to answer general questions on specific loan files.Assist in internal quality control and audit review concerns. Respond to investor audits and audit findings. Provide feedback to management on suggested guideline, program changes and/or enhancements.Verify accuracy of loan amounts and repayment terms on approved loans. Ensure all mortgages are properly recorded and documents are archived according to the loan type.Provide all applicable disclosures to the member, calculate closing costs, good faith estimate/loan estimate for closing costs on home equity and mobile home loans.Work with Loan Manager to commit and sell mortgage loans to investor. Process and disburse construction loan draw requests.Qualifications:

  • Minimum of two-year degree in a business or finance area.
  • Minimum of three years mortgage experience and two years underwriting experience. Experience underwriting per FNMA guideline standards preferred. Fannie Mae and construction lending preferred.
  • Knowledge of mortgage related requirements, procedures, underwriting functions and underwriting criteria along with home equity and consumer lending. Must be proficient with automated underwriting systems, Desktop Underwriter/Desktop Originator.
  • NMLS required
  • Experience in the interpretation, application and compliance of Fair Lending and Consumer Protection laws/regulations such as ECOA, TIL, RESPA and CFPB as they apply to credit granting.Glass City is proud to be equal opportunity workplaces. We are committed to equal employment opportunity regardless of race, color, ancestry, religion, sex/gender, national origin, sexual orientation, age, marital status, genetic information, disability, gender identity or Veteran status.

    Job Posted by ApplicantPro

Keywords: Glass City Federal Credit Union, Toledo , Mortgage Loan Underwriter, Accounting, Auditing , Maumee, Ohio

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