Job Description
SUMMARY:
This role is on-site (no hybrid or remote options).
Underwrite mortgage loans within authorized authority, and in accordance with sound underwriting practices as set out in policy and procedure and as mandated by FNMA and SAFE approved MI companies. Examines, evaluates, and authorizes approval of borrower's applications for credit or extension of lines of credit secured. Assist AVP in overseeing all aspects of the credit union’s mortgage lending activities. Suggest changes to the lending policies, process and procedures.
ESSENTIAL DUTIES AND RESPONSIBILITIES include the following:
- Assist and provide direction concerning the mortgage loan process and procedures as well as other products and services within the department and to all branches/departments.
- Responsible for ensuring the underwriting criteria adheres to the continuous changes and revisions required by FNMA and all mortgage insurance companies the credit union deals with. Communicating those changes to the department and to the branches.
- Assisting the AVP with creating training opportunities such as monthly webinars, mortgage seminars within the community and other needs within the credit union.
- Responsible for the day to day operations of the mortgage department addressing any concerns regarding loan decisions, vendor requirements, file documentation and compliance requirements.
- Underwrites and decisions loans to Fannie Mae limit $510,400.
- Assists members and attorneys in clearing title issues.
- Review subordination documents and loan packages for review/approval for submission to other lenders.
- Re-work loans to obtain loan approval or make counteroffer.
- Responsible to assist Mortgage Processor, Mortgage Closer and or other tasks within the MORTGAGES, Mortgage Underwriter departments if load balancing is required or vacancies/vacations occur.
- Review completed mortgage loan files and give final approval for record retention.
- Oversees application and approval records to comply with the "Home Mortgage Disclosure Act" for the credit union.
- Prepares and mails Regulation B notifications on disapprovals.
- Assures all bills paid for debt Appraisal, Flood Fee, Credit Bureaus, etc.
- Other duties as assigned.
This role is on-site (no hybrid or remote options).
SUPERVISORY RESPONSIBILITIES:
No requirement.
PERFORMANCE STANDARDS:
Accuracy in documentation -- from application taking to closing documentation -- and following established policies, practices, and procedures for lending and collection. Ability to process loans in a timely manner.
QUALIFICATION REQUIREMENTS:
To perform this job successfully, an individual must be outgoing, enthusiastic, conscientious, group oriented, open to change and be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Regulatory Requirements: Your position has specific procedures that must be followed to comply with Privacy Act, Office of Foreign Assets Control (OFAC), and Bank Secrecy/Patriot Act. You will receive annual training to keep you current on any changes to these policies/procedures to assure compliance. Failure to comply with procedures may cause termination of your position as well as possible monetary penalties from the federal regulatory agency.
EDUCATION and/or EXPERIENCE:
Bachelors Degree required and four years related experience and/or training in real estate lending; or equivalent combination of education and experience in a related field. Applicant must have a solid understanding of FNMA underwriting guidelines, interpret FNMA DU Findings Report and additionally adhere to mortgage insurance guidelines. Proficient in MS Word and Excel.
Equal Opportunity Employer
This employer is required to notify all applicants of their rights pursuant to federal employment laws.
For further information, please review the Know Your Rights notice from the Department of Labor. Safety National
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