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, reviewing professional publications and investor guideline updates. 

13. Regularly apprises sales and operations with updates to Portfolio, FHLB, Fannie Mae, Freddie Mac, FHA, VA, and USDA product matrices and guidelines.

14. Follows regulatory and policy compliance requirements, which include those efforts in compliance with the Bank Secrecy Act (BSA), Office of Foreign Asset Control (OFAC) and Anti-Money Laundering (AML) Regulations, Identity Theft Red Flags and other compliance-related policies. 

15. Completes any other duties related to portfolio risk management and loan applications as assigned. 

Requirements

Knowledge, Skills, and Abilities Required: 

1. Excellent written and oral communication skills; ability to communicate effectively and project a professional image when giving and taking information in writing, in person, and over the phone. 

2. Strong analytical, time management and organizational skills and the capacity to integrate diverse objectives with a high level of accuracy and attention to detail. 

3. Ability to retain a broad knowledge of tasks performed in the department. 

4. Ability to remain flexible in order to adapt to changes in the work environment; take initiative; good problem-prevention and problem-solving skills. 

5. Ability to maintain the confidentiality of sensitive information. 

6. Ability to build relationships and work with co-workers, members and outside agencies professionally and tactfully. 

7. Proficient mathematical skills and knowledge of basic accounting principles. 

8. Knowledge of Fannie Mae and Freddie Mac automated underwriting systems; Encompass LOS preferred. 

9. Demonstrated working knowledge of conventional, secondary market and government mortgage loan underwriting and processing guidelines. 

Qualifications: 

1. Bachelor’s degree in Business, Economics, Banking or equivalent financial experience and Business-related (i.e., accounting, economics, finance, management) college-level courses or financial industry-specific training. 

2. Minimum of 5 years of progressive responsibilities in mortgage lending experience including: mortgage loan origination, processing, FNMA and FMLMC documentation, and settlement, including time spent in preparatory positions.  

3. Minimum of 5 years of experience in mortgage loan underwriting for conventional, secondary market investors and/or government loans (e.g. FHA, USDA, VA), including time spent in preparatory positions. 

4. Minimum 3 years of experience in construction lending. 

5. Demonstrated verbal and written communication skills, interpersonal skills, presentation/public speaking capability, and demonstrated analytical and organization skills. 

8. Must possess a valid Oregon driver’s license. 

9. Must be bondable 

Starting Pay Range: $36.44 - $42.51  per hour, depending on relevant experience.

Typical Schedule: Monday - Friday, 8:30 AM - 5:30 PM.

*This position is eligible for flex-hybrid work (2-days in the office and 3-days remote per week) after an initial onsite training period.  It is not fully remote.
 

To show our appreciation to employees, we offer:

• Medical, Dental, and Vision Insurance
• Employer-paid Life Insurance
• Employer-paid Short-Term and Long-Term Disability Insurance
• 401(k) retirement plan with employer matching
• Generous paid time off, starting at 12 hours per month
• 10 paid holidays per year
• Employee Assistance Program
• Flexible Spending Accounts
• Student loan paydown program
• Employee loan discount program
• Wellness incentives

Why employees are proud to work here:

• We offer paid volunteer time
• We provide financial education for youth and adults
• We provide grants to teachers in the valley
• We offer scholarships for local high school seniors headed to college

About Maps:

Located in the heart of the beautiful Willamette Valley, Oregon, Maps Credit Union offers a wide variety of services to over 78,000 members at 10 branch locations and supports over 300 employees. More than anything else, we believe in lifelong learning—not only about money and finances but in all areas of life. Our focus on lifelong learning is a result of our proud history as an educators’ credit union, dating back to our start in 1935. We passionately believe that the best way to navigate life’s great adventure is to do it together.

All qualified applicants will receive consideration for employment without regard to race, color, sex, sexual orientation, gender identity, religion, national origin, disability, veteran status, age, marital status, pregnancy, genetic information, or other legally protected status.