What are the responsibilities and job description for the Mortgage Underwriter position at Skyla Credit Union?
Job Location: 435 N Trade Street Matthews, NC 28105
Job Grade: 11
primary functions:
Responsible for reviewing and underwriting real estate loans. Identifies, analyzes, and evaluates loan risks and compensating factors, and ensures the marketability of closed loans and the safety of Credit Union assets. Approves, suspends, or denies loan applications. Ensures that loans are approved within the terms of the Credit Union's standards and procedures, regulatory underwriting guidelines, and other secondary market requirements. Provides support to mortgage loan staff.
responsibilities:
- Reviews and evaluates mortgage loan applications in accordance with applicable legal, regulatory, and program requirements and with established credit union policies and procedures.
- Approves or rejects loan application or requests additional information. Prepares appropriate decision notification and delivers to applicant in a timely manner. If denial, documents loan rejection, specifying credit union guidelines and basis for declining application.
- Updates loan file with decision rendered and provides mortgage loan processor and loan officer with any relevant information required for loan closing. Orders private mortgage insurance in compliance with PMI guidelines.
- Maintains knowledge of regulatory environment with emphasis on secondary market and PMI guidelines.
- Proactively provides suggestions for improvements in underwriting policies, procedures, and lending programs.
- Remain abreast of changes in credit union lending policy, procedures, as well as consumer lending practices and willingly share knowledge with others.
- Comply with all Federal regulations, Credit Union policies and procedures, including Bank Secrecy and the USA Patriot Act.
- Perform job duties in accordance with the Credit Union's values, mission and vision.
- Perform other duties as assigned.
minimum requirements:
- A two-year college degree or (2) Completion of a specialized course of study at a business or trade school; or equivalent work experience, within mortgage industry.
- Three to five years of mortgage lending experience.
- Knowledge of financial statements, credit reports, tax returns, and appraisals. Full understanding of conventional underwriting requirements.
- Possess a ‘members first’ mindset.
- Thorough knowledge of Credit Union’s mortgage products and services, including lending policy, credit granting criteria, interest rates and how they are computed, and the required documentation for each type of loan.
- Self-starter, detail oriented with ability to prioritize efficiently.
