Mortgage Loan Underwriter II (not fully remote)

Description

Maps Credit Union seeks a Mortgage Loan Underwriter II who is experienced in a variety of mortgage loan products, including construction loans, for our Mortgage Lending team. This full-time position performs a wide range of duties related to mortgage loan underwriting, closing, settlement, and quality control.  

Key Responsibilities:

1. Underwrites and decisions conventional residential Portfolio loans and Federal Home Loan Bank (FHLB) loans in accordance with lending authority set by the Credit Union. Loans must meet all quality standards established by the Credit Union/NCUA, FHLB, Investors, FNMA and FMLMC.

2. Demonstrates a thorough knowledge of mortgage loan products, including construction loans, pricing, underwriting requirements for the Credit Union, secondary market investors and mortgage insurance companies.

3. Provides superior member service. Corresponds and coordinates with members, fellow staff, and external providers to facilitate timely loan underwriting and closings. 

4. Documents and effectively communicates reasons for decisions of loans.

5. Analyzes and evaluates consumer home loan applications as well as the supporting documentation to assess Borrower’s credit worthiness and ability to repay including:

         o Validates loan application and supporting documentation.

         o Reviews and validates income, assets, credit, title, value and fraud reports.

         o Ensures loan file and credit worthiness are in compliance with Credit Union and secondary market investor standards.

         o Specifies closing conditions (e.g. flood insurance for properties in a flood zone) to ensure all applicable regulations are met.

6. Ensures sufficiency of collateral:

         o Reviews appraisals and other valuation methods used by the Credit Union. 

         o Prepares reports on assessment findings.

         o Reviews purchase agreements when applicable, title reports and flood reports for accuracy.

         o Resolves any outstanding issues in a timely manner. 

7. Partners with and supports Mortgage Loan Officer(s) activity; acts as a residential loan resource for staff and assists with staff lending training and coaching.

8. Understands and complies with all laws, regulations, policies, and procedures related to residential lending and programs offered.

9. Maintains and oversees construction loan risk assessment and project viability.

10. Closely supervises construction completion and funds disbursement to assure acceptable compliance standards, quality of construction, adherence to plans and materials specifications, and timely completion of the home.

11. Assists with the review and maintenance of the Credit Union’s lending practices, underwriting guidelines, including construction loan procedures, and makes recommendations to Senior Management regarding necessary changes.

12. Enhances job performance by applying up-to-date professional and technical knowledge gained by attending training sessions, …