Mortgage Underwriter

PRIMARY FUNCTION

Underwrite first and second mortgage loans based on guidelines established by agencies, investors and Virginia Credit Union (VACU) guidelines. Maintains on-going training for loan originators and processors on changes and updates to underwriting guidelines established by agencies and credit union.

JOB DUTIES AND RESPONSIBILITIES

• Provide quality member service to meet the standards set by mortgage management and the Member Experience team.
• Reviews/analyzes loan files submitted for members to ensure file meets loan program requirements. Includes individual analysis of: loan application, credit profile/report(s), debt and assets, income/financial statements, loan values/loan-to-value ratios, appraisal reports, collateral and supporting documentation.
• Identifies/calculates loan risk of loss.
• Aid VACU staff members with questions regarding VACU first and second mortgage products.
• Underwrites conventional (FNMA/ FHLMC) and government (FHA/VA/VHDA & USDA) mortgages.
• Reviews/analyzes loan files submitted for borrowers to ensure file meets loan program requirements. Includes individual analysis of: loan application, credit profile/report(s), debt and assets, income/financial statements, loan values/loan-to-value ratios, appraisal reports, collateral and supporting documentation.
• Absorb and apply knowledge of underwriting self-employed borrowers, tax returns, business returns etc.
• Ensure compliance with Federal, State and local government accounting and financial reporting standards and controls.
• Create and maintain a courteous and professional relationship with co-workers.
• Conditions files for missing/supporting documentation according to secondary market and VACU guidelines.
• Able to prioritize multiple competing tasks.
• Possess proven ability to perform quality work while maintaining productivity and compliance standards.
• Discuss loan denial decision results with loan officers and loan advisors/processors.
• Aids First Mortgage management to investigate audit exceptions and formulate responses.
• Available to work extended hours as business need requires. Flexibility to work extended hours during heavy workload periods.
• Perform other duties as required and assigned by the supervisor.

JOB QUALIFICATIONS

• Responsible for underwriting Government and Conventional loans following established VACU, agency and investor guidelines.
• The underwriter evaluates mortgage loan files and assesses risk based on compliance, agency, investor, and VACU guidelines to ensure salability with minimal loss.
• Ideal candidates will be service-focused with superior time-management and communication skills, have the ability to multi-task, and possess keen attention to detail.
• Must conduct business with integrity and in a highly ethical manner.
• Considerable demonstrated experience underwriting conventional (conforming and non-conforming) and government (FHA/VA/USDA & VHDA) first and second mortgage residential products.
• FHA Direct Endorsement, VA Credit Certification, VA SAR, USDA and VHDA Certifications preferred.
• Experience with operation of Automated Underwriting Systems (AUS) required.
• Experience in mortgage origination (sales and processing) a plus.
• Excellent oral and written communication skills combined with the ability to make sound decisions. Excellent problem solving and organizational skills required.
• Knowledge of tax return and balance sheet analysis, including both cash flow and AGI methods.
• Must be a team player who works for the best solution for the team and the member.
• Computer experience required.
• Minimum Education: Bachelor's degree (B. A.) from four-year college or university; and preferred five years or more related experience in automated underwriting systems including FNMA's Desktop Underwriter and knowledge of FNMA and all government program underwriting guidelines and/or training; or equivalent combination of education and experience.

PHYSICAL REQUIREMENTS

• This job requires the ability to sit for long periods of time.
• This job requires occasionally lifting up to 20 pounds and/or up to 10 pounds frequently.