Senior Mortgage Loan Underwriter

Job Summary

The Senior Mortgage Loan Underwriter performs appropriate and complex mortgage loan risk assessments to ultimately ensure the origination of an investment quality loan product.  This role conducts a thorough evaluation of loan files to ensure they meet minimum requirements of the loan program, laws, regulations, policies, and procedures. 

The Senior Mortgage Underwriter reports to the Manager, Mortgage Underwriting.

About UFCU

Our Credit Union was founded in 1936 and has grown to serve members throughout Texas and beyond. At UFCU, we are more than just a financial institution, and our people are more than just employees. We are dedicated to our purpose of empowering our Members to achieve financial success and build brighter futures.

In pursuit of our aspiration that UFCU is loved by millions of Members and built to thrive for generations, we are guided by our values:

Purposefully Member-Obsessed

We are driven by a profound sense of empathy to deeply understand our Members’ needs and preferences, what brighter futures means to them, and the obstacles in their way. We act in our Members’ best interests, forever seeking to empower their financial success.

Possibilities Reimagined

We are inspired to courageously experiment, learn, and iterate in pursuit of positive impact for our Members, UFCU, and coworkers. We challenge assumptions, embrace diverse perspectives, and make use of data and insights.

Performance Excellence Rooted in Unwavering Integrity

We do the right thing, always. We champion teamwork, accountability, continuous improvement, and celebrate successful outcomes of others, fostering an inclusive environment of excellence and collaboration.

Essential Functions

• Manages mortgage loan pipeline in accordance with departmental processes and expectations
• Evaluates and determines compliance with:
• Loan program guidelines
• Federal, state, or local government guidelines, and regulations
• Internal policies and procedures
• Department compliance and quality control monitoring
• Assists mortgage production and origination team in qualifying loans and answering questions
• Maintains collaborative working relationships with all partners throughout the loan process
• Determines and recommends alternative loan terms or products as appropriate
• Keeps current on all internal policies and procedures, state and federal regulations, and coordinates with management to address any changes as needed
• Responds timely to all post funding audits, investor suspense, and other quality issues
• Assists with timely and accurate regulatory reporting requirements
• Supports all departmental areas and actively participates in departmental and organizational meetings

Other

• Adheres to all company policies, procedures and business ethics codes
• Completes required regulatory training as assigned.
• Maintain strict adherence and compliance to all laws, rules, regulations and internal controls specific to your role, including but not limited to Bank Secrecy Act, Anti-Money Laundering, USA Patriot Act, OFAC and Fair Lending regulations.

Knowledge/Skills/Abilities    

Knowledge

• Thorough knowledge and experience in underwriting conforming loan products
• Extensive knowledge of primary Automated Underwriting Systems
• Strong knowledge of mortgage lending compliance and regulations

Skills

• Strong analytical, documentation, organizational and time management skills with ability to multi-task in a deadline-driven environment
• Excellent interpersonal, written and verbal communication skills

Abilities

• Ability to efficiently work both independently and in a team environment
• Strong ability to effectively manage daily workload to meet or exceed service levels
• Ability to exhibit adaptability to effectively adjust to frequent changes
• Ability to be solution-oriented and an innovative problem solver

Competencies

• Demonstrating Member Obsession

• Puts themselves in the Member’s shoes
• Looks for friction points
• Makes it personalized and easy

• Demonstrating Performance Excellence

• Sets standards for elevating excellence
• Ensures elevated quality
• Takes responsibility
• Conducts continuous improvement

• Demonstrating Innovation

• Challenges current thinking
• Approaches change with a positive mindset

Experience

Minimum Requirements

• Five (5) years in mortgage lending operations underwriting loans
• Strong experience analyzing and evaluating documentation provided to ensure quality, completeness, qualifying eligibility, and compliance. This includes thorough analysis of:
• Credit history
• Qualifying income
• Assets
• Collateral, including property-type requirements (e.g. condominium, PUD)
• Title and Survey
• Insurance
• Disclosures
• Specific program requirements
• Experience in reviewing complex income scenarios for self-employed borrowers
• Experience in working with Encompass LOS
• Underwriting experience or designations for:
• Direct Endorsement / FHA loans
• VA SAR / LAPP / Veterans Administration loans
• USDA
• Non-conforming products
• Non-QM products
• Renovation and Construction Lending
• MCC, DPA, Bond programs
• Must be bondable

Physical Demands

The physical demands described are representative of those that must be met by an employee, with or without accommodation, to successfully perform the essential functions of this job.  Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions.

Frequent

• While performing the duties of this job, the employee is regularly required to sit; use hands to finger, handle or feel; reach with hands and arms; and talk or hear.
• Specific vision abilities required by this job include close vision, distance vision, peripheral vision and ability to adjust focus.
• Employee will make extensive use of the telephone and virtual communications requiring the ability to explain complex information effectively and accurately.

 Work Environment

The work environment characteristics described are representative of those an employee encounters while performing the essential functions of this job.

• This position requires frequently working onsite at UFCU Plaza in Austin, Texas.
• This position may involve periodic stressful conditions.
• May occasionally require an adjusted work schedule, overtime, and evening/weekend hours.
• Frequent computer use at a workstation up to two hours at a time.
• The noise level in the work environment is usually moderate

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