What are the responsibilities and job description for the Residential Loan Underwriter - Full time - Credit Union position at Floridacentral CU?
Residential Loan Underwriter
Role:
Reviews, evaluates, and then accepts/denies second mortgage loan files including HELOC’s using the internal Underwriting Standards, as well as general FNMA and FHLMC underwriting guidelines, to determine creditworthiness of the applicant.
Major Duties and Responsibilities:
Education/Certifications/Licenses: A two-year college degree or completion of a specialized course of study at a business or trade school.
Other Skills: Is responsible for other loan related information including but not limited to the organizations current mortgage loan interest rates, commitment/rate lock/relock fee procedures, consumer loan products/rates/guidelines that are used in conjunction with Mortgage Lending.
Benefits for Full time employees includes:
Role:
Reviews, evaluates, and then accepts/denies second mortgage loan files including HELOC’s using the internal Underwriting Standards, as well as general FNMA and FHLMC underwriting guidelines, to determine creditworthiness of the applicant.
Major Duties and Responsibilities:
- Receives and reviews loan files for sufficient documentation to make an informed loan decision based on the product description and standard underwriting guidelines. If there is insufficient information, request the required information or documentation from the processor, originator, or customer. Complete a thorough analysis of the loan package to determine compliance with company and/or investor requirements.
- Provides effective and timely communication with management, title companies, and staff to meet deadlines.
- Based on the loan decision, reviews for accuracy all information and corrects as necessary. Determines if any refund of fees per policy and procedure is due and then prints the Underwriting Decision and Summary form and any other related forms for the loan file. If the loan is denied, submit the loan file to the appropriate party for a dual review.
- Reviews appraisals and evaluations to determine the consistency of the information, if the comparable have been used within reasonable tolerance to support the final value, and if any additional underwriting considerations need to be made based on the condition of the property or of other conditions recommended/required by the appraiser.
- Provides documentation in the file if a policy, procedure, or guideline exception is made stating the type of exception and compensating factors to support the decision.
- Must comply with all company policies and procedures, applicable laws, and regulations, including but not limited to, the Bank Secrecy Act, the Patriot Act, and the Office of Foreign Assets Control.
Education/Certifications/Licenses: A two-year college degree or completion of a specialized course of study at a business or trade school.
Other Skills: Is responsible for other loan related information including but not limited to the organizations current mortgage loan interest rates, commitment/rate lock/relock fee procedures, consumer loan products/rates/guidelines that are used in conjunction with Mortgage Lending.
Benefits for Full time employees includes:
- 401(k) w/ up to 5% matching
- Medical insurance
- Dental insurance
- Vision insurance
- Life insurance
- Disability insurances
- FSA
- Paid Vacation, Sick & Holiday hour
