Mortgage Underwriter (Finance)

General Summary (What is done and why)

The Mortgage Underwriter is responsible to underwrite first mortgage conventional, USDA/RD and portfolio loans in order to minimize risk or loss; ensure that loans are underwritten in accordance with the Credit Unions loan policies, guidelines and secondary market investor standards; examine loan documentation to ensure compliance with various state and government regulations and guidelines. Provide guidance to support staff.  Recommend modifications to underwriting procedures. 

Essential Functions, in Priority Order (Majority of duties, but not meant to be all inclusive or prevent other duties from being assigned as necessary)

1. Complete a thorough analysis of loan files and supporting documentation to determine compliance regulations is meet according to the Credit Union, USDA, Portfolio, Conventional, private investor and private mortgage insurance guidelines.  This includes full condominium review and complex tax returns when applicable.   Recommend the loan disposition for loan amounts in excess of authority limitation to Mortgage Underwriting Manager.  Time: 65%
2. Be available to the mortgage operations and mortgage sales teams for specific guideline interpretations and questions on specific loan files.  Time: 20%
3. Maintain strong working knowledge of market conditions in the geographic areas where mortgage loans will be originated.  Evaluate, analyze and distribute applicable changes and updates to production staff when necessary.  Recommend modifications to underwriting procedures/standards.  Assist in audits when requested by management.  Time: 10%
4. Perform related duties as directed by Mortgage Underwriting Manager.  Time: 5%

Education (Minimum education required to perform the duties of this position)

• Bachelor's Degree in related field or two years of related work experience required.

Experience (Minimum experience required to perform the duties of this position)

In addition to the education requirement:

• Knowledge of residential mortgage guidelines, products, and regulatory requirements.
• Two or more years of real estate underwriting or mortgage loan processing experience required.

Knowledge, Skills and Abilities (Minimum technical and communication skill levels and licenses/certificates normally required to perform the duties of this position)

• Excellent communication skills. 
• Excellent underwriting analytical skills
• Knowledge of Excel and Word
• Self-motivated
• Analysis and quick resolution skills
• Knowledge of real estate laws, regulations and policies.
• Ability to develop or improve loan products.
• Ability to develop strategy for seminars, presentations and trade shows
• Thorough business knowledge of the real estate lending industry.

Required Competencies

• Problem Solving
• Drive for Results
• Time Management
• Dealing with Ambiguity
• Demonstrates Courage
• Interpersonal Savvy
• Customer Focus
• Integrity & Trust
• Self-Development
• Business Acumen

Mental Requirements

• Ability to analyze and evaluate information.
• Ability to use good judgment and make sound decisions quickly.
• Ability to work and reason under pressure.
• Ability to prioritize in a multi-task environment.
• Ability to maintain a positive attitude and professional image.
• Ability to interpret lending guidelines and regulations.
• Demonstrated understanding of guidelines necessary to generate first and second mortgages.

Tools and Equipment Used

• All available general office equipment as needed.

• All available computer software and hardware as needed.

Working Relationships/Contacts (Positions with which incumbent has frequent contact)

• Daily, personal/written/phone contact with Credit Union staff.
• Daily, personal/written/phone contact with Credit Union management.
• Daily, personal/written/phone contact with real estate community.
• Daily, personal/written/phone contact with Credit Union members.
• Daily, personal/written/phone contact with vendors.

Physical Demands (Physical effort generally associated with this position)

Work involves standing and walking for brief periods of time but most work is done from a seated position.  There is potential for eyestrain from reading detailed reports and computer screen.  Deadlines, workloads and pressure to achieve goals may cause increased stress levels.

Working Conditions (Typical working conditions associated with this type of work and environmental hazards, if any, that may be encountered in performing the duties of this position)

Internal - Work is normally performed in climate-controlled office environment, where exposure to conditions of extreme heat/cold, poor ventilation, fumes and gases is very limited. Noise level is moderate and includes sounds of normal office equipment (computers, telephones, etc).  No known environmental hazards are encountered in normal performance of duties. Length of day is unpredictable; long hours may be required to accommodate deadlines or special meetings.

External - Some overnight travel is required; however, information on environmental conditions is not available.

United Federal Credit Union has served its Members since 1949 by helping them to build a sound financial future. United is based in St. Joseph, MI, with additional branches in Arkansas, Indiana, Michigan, Nevada, North Carolina, Ohio, Pennsylvania. United, as a not-for-profit company, takes its commitment to both Members and the community to heart by improving lives and bettering local neighborhoods through financial tools and resources. The employees who work at United, known as Team United, are rooted in their communities as friends, family, volunteers, and mentors. For more information visit www.UnitedFCU.com. 

EOE/Vets/Disability