What are the responsibilities and job description for the Mortgage Loan Underwriter position at Lutheran Church Extension Fund?
Organization Profile
The primary mission of Lutheran Church Extension Fund (LCEF) is to provide financial resources and related services for ministry, witness, and outreach of The Lutheran Church – Missouri Synod (LCMS). In so doing it shall raise funds primarily through the issuance of corporate notes and other debt instruments. Its assets shall be used exclusively for the following: To provide financing and services for the acquisition of sites; the construction of facilities; the purchase of buildings and equipment; operating expenses; professional church worker education; the residential housing needs of professional church workers; and other purposes approved by its governing board consistent with the ministry and mission of the Synod under policies approved by the Board of Directors of the Synod.
Reporting Relationship
This position reports to the Assistant Vice President – Credit Administration
Summary
The Mortgage Loan Underwriter assists the Assistant Vice President of Credit Administration in the thorough evaluation and analysis of mortgage loan applications. This role is responsible for conducting the final underwriting of mortgage loans and performing pre-closing document reviews to ensure compliance with the organization's policies and all relevant regulations. By collaborating closely with internal and external stakeholders, the Mortgage Loan Underwriter ensures accuracy, timeliness, and risk management throughout the loan process.
Essential Job Functions
The primary mission of Lutheran Church Extension Fund (LCEF) is to provide financial resources and related services for ministry, witness, and outreach of The Lutheran Church – Missouri Synod (LCMS). In so doing it shall raise funds primarily through the issuance of corporate notes and other debt instruments. Its assets shall be used exclusively for the following: To provide financing and services for the acquisition of sites; the construction of facilities; the purchase of buildings and equipment; operating expenses; professional church worker education; the residential housing needs of professional church workers; and other purposes approved by its governing board consistent with the ministry and mission of the Synod under policies approved by the Board of Directors of the Synod.
Reporting Relationship
This position reports to the Assistant Vice President – Credit Administration
Summary
The Mortgage Loan Underwriter assists the Assistant Vice President of Credit Administration in the thorough evaluation and analysis of mortgage loan applications. This role is responsible for conducting the final underwriting of mortgage loans and performing pre-closing document reviews to ensure compliance with the organization's policies and all relevant regulations. By collaborating closely with internal and external stakeholders, the Mortgage Loan Underwriter ensures accuracy, timeliness, and risk management throughout the loan process.
Essential Job Functions
- Conduct the final underwriting of mortgage, home equity, and unsecured loans originated and purchased by LCEF, ensuring that loan applications meet all applicable credit policies, underwriting guidelines, and regulatory requirements. Approve or deny loans based on comprehensive risk assessment and eligibility criteria.
- Perform a detailed review of pre-closing mortgage loan documents to verify accuracy, completeness, and compliance with established policies and regulations.
- Ensure adherence to all relevant lending guidelines, risk management protocols, and federal/state regulations.
- Identify and assess potential risks in mortgage loan applications, ensuring that the level of risk is acceptable and recommending conditions for approval as needed to mitigate any identified risks.
- Collaborate with loan officers, processors, and other key stakeholders to address questions, resolve issues, and provide feedback regarding loan decisions. Serve as a resource for clarifying underwriting guidelines.
- Update the Rostered Church Worker Loans Underwriting Policies and Procedures as applicable.
- Participate in special projects and prepare various reports as assigned, contributing to process improvements, policy updates, and the development of best practices in mortgage lending.
- Stay current with changes in the mortgage industry, lending regulations, and underwriting standards. Share knowledge and provide training or guidance to other team members as needed.
Education and Experience
- Bachelor’s degree in finance, business, or a related field, or equivalent work experience.
- Five years of experience in mortgage loan underwriting or a related role within the mortgage lending industry.
- Mortgage Loan Originator License required or to be obtained within 60 days of hire for applicable states.
- Familiarity with FNMA guidelines.
- Experience with Encompass (loan origination system) preferred.
- Home Equity and Unsecured loan Underwriting experience preferred.
Competencies (Knowledge, Skills and Abilities)
- Knowledge of federal and state regulatory requirements related to consumer lending.
- Strong analytical skills with the ability to assess complex financial and risk information.
- Critical thinking and reasoning skills. Ability to assess, evaluate, and provide sound judgment in carrying out duties. Understands business implications of decisions.
- Strong organizational skills with the ability to prioritize and multi-task. Detail oriented with high degree of accuracy.
- Results-driven with the ability to work well under pressure and under tight deadlines, and with minimal supervision.
- Ability and desire to establish and maintain effective interpersonal relationships. Collaborative and team mindset that establishes favorable relationships with staff and vendors.
- Energized by change and welcomes new opportunities. Quickly learns and adapts to change.
- Outstanding communication skills, both written and verbal. Ability to provide clear direction and feedback, and can communicate effectively with various audiences and all levels of the organization.
- Seeks self-development opportunities. Cooperates and participates fully in the coaching process, and actively seeks continuous learning to improve personal and team performance.
- Partners with others to engage in problem-solving. Ability to clearly articulate issues and concerns and recommend solutions.
- Ability to maintain confidentiality.
Supervisory Responsibility
This position does not have supervisory responsibilities.
Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities and activities may change at any time with or without notice.