Mortgage Loan Underwriter

Northwest FCU
Herndon, VA
Oct 13, 2017
Oct 17, 2017
Accountant, IT
Full Time
Requisition Number Post Date Title Mortgage Loan Underwriter City Herndon State VA Description The Underwriter uses superior knowledge of underwriting fundamentals including property evaluation to underwrite and review Conventional FHA VA and or Jumbo loans First Mortgage loans in addition to Home Equity Home Equity Lines of Credit and Land Loans Fluent in secondary market guidelines and credit union company policies and procedures the underwriter reviews files and makes sound lending decisions based upon experience and judgment The underwriter also guides mortgage staff on policies and properly documenting files and maintains third party audit reviews DUTIES AND RESPONSIBILITIES Possess maintain and exhibit superior skills for determining the creditworthiness of loan applications and applying sound judgment based on experience and guidelines when making loan decisions Approves all eligible applications and forwards loans for disapproval if necessary Ensures that loans are approved within the terms of the Credit Uniona s standards and procedures regulatory underwriting guidelines FHA and VA and other secondary market requirements Underwrites mortgage and equity loans to investor and Credit Union guidelines Fully knowledgeable of the various investor program requirements Accurately evaluates the credit worthiness of borrowers Accurately evaluates the collateral of a loan Ensures loan files are complete prior to closing and that conditions have been met Ensures the marketability of closed loans and the safety of Credit Union assets Ensures private mortgage insurance has been obtained when needed and loans are in compliance with PMI guidelines Analyzes and evaluates tax returns for self employed borrowera s to determine income and viability of company Respond and help resolve loan level issues identified by Quality Control Post Closing or other internal departments Have a strong knowledge of internal processes and procedures to ensure the quality of loan system data and the adequacy of paperless loan documentation Works with internal and external Auditors to research and determine solutions for any potential findings Provides suggestions for improvements in underwriting policies and procedures Assists and supports Mortgage Dept personnel as well as all Credit Union personnel Conveys correct information regarding mortgage loan policies and procedures Keeps management informed of trends or significant problems which may arise Work in tandem with underwriting staff to address loan conditions questions or issues and strive to maintain low turnaround times in underwriting queue Provides training to new underwriters and other staff as needed Other duties may be assigned Requirements QUALIFICATIONS EDUCATION AND EXPERIENCE High School Diploma or equivalent Minimum three yearsa experience as MLO Processor or Underwriter required Experience underwriting to secondary market a œAa paper guidelines to include Jumbo loans Minimum one year FHA VA underwriting experience preferred SAFE Act licensing required SKILLS Proficient in Microsoft office applications skilled in the use of the internet for information retrieval and online business processing Must be proficient with HP C mortgage calculator Proficient with Mortgagbot software Fannie Mae DU Freddie Maca s LP Collateral Underwriter Lexis Nexis LANGUAGE SKILLS Excellent verbal and written skills required Must have the ability to draft written correspondence in professional manner MATHEMATICAL SKILLS Ability to add subtract multiply and divide in all units of measure using whole numbers common fractions and decimals Ability to compute rate ratio payments and percent and to draw and interpret bar graphs Strong analytical skills are required Must be able to evaluate extensive amounts of data 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 WORK ENVIRONMENT The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions Equal Opportunity Employer Protected Veterans Individuals with Disabilities Please view Equal Employment Opportunity Posters provided by OFCCP here The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about discussed or disclosed their own pay or the pay of another employee or applicant However employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information unless the disclosure is 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