Jr Underwriter

Position Summary

This is a hands-on underwriting role with built-in cross-training in closing operations — an ideal fit for a candidate with one to three years of mortgage underwriting or processing experience who wants to deepen their Texas home equity expertise and broaden into closing.

Primary Responsibilities – Home Equity Underwriting (70%)

• Underwrite Texas 50(a)(6) Streamlined Home Equity (1st and 2nd lien) and 50(a)(5) Home Improvement loan files for compliance with FocusOne credit policy, investor guidelines, and applicable Texas constitutional requirements.
• Analyze borrower credit, income, assets, and employment using Encompass, Desktop Underwriter (DU), and third-party verification data (e.g., Argyle), and clear conditions to a final approval decision within delegated authority.
• Confirm compliance with Texas home equity requirements, including the 80% combined loan-to-value limit, the 2% fee cap on 50(a)(6) loans, the 12-day pre-closing notice, the one-year seasoning rule, homestead and acreage limits, and permitted closing locations under Article XVI, Section 50(a)(6)(N).
• Review property valuations in accordance with FocusOne policy (currently county appraisal district / CAD value, with automated valuation methodology under evaluation per the interagency AVM quality-control rule).
• Document underwriting decisions, conditions, and exceptions clearly in the loan file; route credit union partner exceptions for approval through the Portfolio Agreement workflow where applicable.
• Issue accurate adverse action / Notice of Incomplete Application communications in coordination with the ECOA Action workflow, within required timeframes.
• Maintain turn-time and quality targets while keeping complete, audit-ready files.

Backup Closing Responsibilities (20%)

• Prepare and review closing packages for accuracy, ensuring the Closing Disclosure, note, security instrument, and all home equity-specific disclosures are correct and properly executed.
• Verify TRID timing and tolerance compliance, balance fees with title and settlement agents, and confirm figures tie to the approved terms and lock.
• Confirm Texas 50(a)(6)-specific closing requirements are met, including the proper closing location, the borrower’s right of rescission, and required acknowledgments and notices.
• Coverage during peak volume, staff absences, or deadline-driven periods to protect on-time closings.

Underwriting Support & Loan Status Management (10%)

• Absorb and review flood certifications, confirm flood zone determinations, and identify flood insurance requirements.
• Verify homeowners/hazard insurance (and flood or windstorm coverage where applicable), confirming coverage amounts, effective dates, and the correct mortgagee clause.
• Order and review credit reports; reconcile tradelines and verify outstanding liabilities, debts, and payoffs used in qualifying.
• Set up and scrub new loan files in Encompass, order and track outstanding conditions, run Desktop Underwriter (DU), and prepare complete files for underwriter review.
• Verify income, asset, and employment documentation in coordination with verification tools (e.g., Argyle).
• Manage loan status and dispositions, including the withdrawn and incomplete / Notice of Incomplete Application processes — issuing and tracking required notices, updating Encompass milestones and statuses, and ensuring timely, compliant file closure.

Required Qualifications

• One to three years of mortgage underwriting and/or loan processing experience, ideally including home equity, HELOC, or Texas residential lending.
• Familiarity with TRID, ECOA, RESPA, and related federal mortgage lending regulations.
• Proficiency with a loan origination system (Encompass strongly preferred) and Desktop Underwriter (DU).
• Strong attention to detail, organizational skills, and the ability to manage a pipeline against turn-time and quality standards.
• Clear written and verbal communication skills for interaction with internal teams, credit union partners, title companies, and settlement agents.
• High school diploma or equivalent required.

Preferred Qualifications

• Direct experience underwriting or closing Texas 50(a)(6) home equity or 50(a)(5) home improvement loans.
• Prior closing, funding, or closing-disclosure preparation experience.
• Experience in a credit union, CUSO, or seller-servicer environment.
• Associate or bachelor’s degree in finance, accounting, business, or a related field.
• Hands-on experience working within Encompass loan files, milestones, and conditions.