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Mortgage Loan Underwriter - Middletown, NY

Heritage Financial Credit Union · Headquarters, KY · 2 wk ago
Sales$28.98–$36.23/hrFull-time

POSITION PURPOSE

This position is responsible for underwriting first mortgage loan applications. Review required loan information and analyze loan applicant’s credit history. Approve or deny loan applications based on analysis. This position will have lending authority as determined by the Real Estate Lending Manager and the Vice President of Lending. Performs a variety of support duties related to the lending function within the credit union. This position will also assist in the underwriting of second mortgages and HELOCs as needed and assigned by the Real Estate Lending Manager. Will work with the Mortgage Processor in the capacity of coaching and mentoring on all aspects of mortgage underwriting. May also have the responsibility for generating reports for senior management as directed by the Real Estate Lending Manager.

ESSENTIAL FUNCTIONS AND RESPONSIBILITIES

  • Maintain a thorough understanding of FNMA conventional Mortgage underwriting guidelines as well as all applicable private mortgage insurance guidelines and procedures.
  • Set pricing for mortgages using FNMA pricing model and HFCU’s FNMA and Portfolio Premium Target procedures.
  • Use FNMA Desktop underwriter to receive approval/decline decision on Mortgages
  • Commit /Sell loans to FNMA at desired profitability and in accordance with FNMA and HFCU policies and procedures.
  • Maintain a thorough understanding of HFCU that fall within those parameters.
  • Refer Mortgage loans to Mortgages Partner(s) as necessary.
  • Assist Financial Service Representatives with the loan application process to ensure completeness of information.
  • Review and Approve/Deny Real Estate Lending Appraisals in accordance with HFCU policy.
  • Review and Approve/Deny Real Estate Title work and Insurance work, including Flood Insurance in accordance with HFCU policy
  • Calculate debt-to-income ratios on loan applicants and how much of a loan applicant's debt is secured or unsecured.
  • Review Real Estate Loan Reworks and determine collateral needs and payment plans.
  • Approve or deny loan applications. Must maintain a complete working knowledge of RESPA, HMDA, Truth in Lending and all necessary lending compliances.
  • Explain reasons for declines and provide counter offers whenever possible.
  • Process adverse action notices for declined loans
  • Verify the accuracy of loan amounts and repayment terms on approved loan applications.
  • Perform responsibilities of position in accordance with federal and state regulations, credit union policies and procedures.
  • Assist in training new employees.
  • Recommend changes to improve workflow, efficiencies and quality.
  • Cross-sell credit union products and services as appropriate.
  • Process/Analyze/Maintain Lending Department reports as assigned

EDUCATION/CERTIFICATION

Four-year bachelor's degree in business and two plus years’ experience in Mortgage/Home Equity underwriting.

KNOWLEDGE

  • Knowledge of accounting principles, underwriting and compliance guidelines, and good communication skills.
  • This position requires that the employee gain a working knowledge of Bank Secrecy Act (BSA) requirements and how they will affect their work. The employee will comply with all requirements of the BSA and cooperate with the designated BSA Officer in assuring compliance.

EXPERIENCE

  • Experience using P.C. based software including Microsoft Office.

SKILLS/ABILITIES

  • Ability to project a professional appearance and positive attitude at all times.

What's in it for you?

  • Salary: $28.98 - $36.23 per hour (depending one experience)
  • Benefits:
    • Paid Time Off & Paid Federal Holidays
    • Medical, Dental, Vision & Life Insurance
    • Employee Assistance Program
    • Flexible Spending Accounts (FSA)/Health Savings Accounts (HSA)
    • Supplement Benefits: Critical Illness Care, Identity Theft Protection, Pet Insurance, Legal Services
    • BenefitsPlus+ perks program (travel, entertainment, gift cards and so much more)
    • CareNet - benefits concierge service
    • 401(k) with 5% Employer Match
    • Education Assistance
    • Paid Time to Volunteer
    • HFCU Logo-wear (that our employees wear with pride!)

Equal Opportunity Statement

Employment at our Credit Union is based upon merit, ability, and qualifications. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, status as a protected veteran, or any other legally protected status.

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