SUMMARY

Approves or denies mortgage loans based on credit union guidelines by performing the following duties.

ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Other duties may be assigned.

• Reviews and evaluates information on mortgage loan documents to determine if buyer, property, and loan conditions meet credit union and government standards. Evaluates the entire credit package and collateral to ensure the credit union’s position of a quality loan product.
• Confirms accuracy of all income, indebtedness, ratios, loan-to-value and any other calculations necessary in determining final decision.
• Recommends loan to Mortgage Manager if the loan amount exceeds the authorized lending authority.
• Works closely with processing, closing, funding and quality assurance to ensure member is receiving a product that will be beneficial to member.
• Evaluates acceptability of loan to corporations that buy real estate loans on secondary mortgage markets, where existing mortgages are bought and sold by investors.
• Determines terms and acceptability of risk of prospective business.
• Sets prices for prospective mortgage loan applicants.
• Approves or rejects loan application, based on RE Loan level, or requests additional information.
• Clears credit and property conditions placed on loan as required.
• Reviews title to ensure ALTA matters have been cleared and easements are within general guidelines as established by credit union.
• Reviews flood certifications and compares to appraisal.
• Records loan rejections, specifying investor and credit union guidelines and basis for declining application, such as insufficient cash reserves.

• Assembles documents in loan files, including acceptance or denial, and returns files to originating mortgage loan officer.Maintains underwriting activity logs and provides weekly or monthly underwriting reports to Mortgage Lending Manager.
Skills / Requirements Education and/or Experience

Associate’s degree or specialized course of study or certification; two to five years underwriting experience with knowledge of FNMA/FHLMC guidelines.

Language Skills

Ability to read and interpret documents such as safety rules, operating and maintenance instructions, and procedure manuals. Ability to write routine reports and correspondence. Ability to speak effectively before groups of customers or employees of organization.

Mathematical Skills

Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, percentages, area, circumference, and volume. Ability to apply concepts of basic algebra and geometry.

Reasoning Ability

Ability to solve practical problems and deal with a variety of concrete variables in situations where only limited standardization exists. Ability to interpret a variety of instructions furnished in written, oral, diagram, or schedule form.

Computer Skills

To perform this job successfully, an individual should have knowledge of Spreadsheet software and Word Processing software.
PAY COMMENTS
Excellent benefit package! Please visit our website TO APPLY: www.AZSTCU.org

Tags: Banking, mortgage, mortgage jobs, underwriter jobs, underwriting