Mortgage Underwriter

Position Summary

Underwrite mortgage loans according to TTCU, Freddie Mac, Fannie Mae, Federal Home Lending Banks (FHLB), Veterans Affairs (VA), HUD Section 184, United States Department of Agriculture (USDA) and Federal Housing Administration (FHA) guidelines in a manner that demonstrates the highest level of professional member service and discretion with confidential matters and comply with all pertinent regulatory requirements to ensure the mortgage lending portfolio is of sound nature. Performs duties in compliance with regulatory requirements including, but not limited to, the Bank Secrecy Act.

Essential Job Functions and Responsibilities

* Underwrite all first and second mortgage loan applications in compliance with regulatory agencies and according to FHA, HUD Section 184, Freddie/Fannie, VA, USDA, and FHLB guidelines in addition to TTCU portfolio guidelines. Underwriters shall make an assessment of risk per file and make a determination of approval or denial per application. Must complete the underwriting checklist accurately and clearly define any conditions needed prior to closing and/or funding conditions.

* Review appraisal to ensure that collateral is within the specific guideline required by all agencies. TTCU and any secondary investors. Underwriters are expected to require conditions on any substandard appraisal including but not limited to addition comparable properties, discrepancy, revisions, and in select cases whole new appraisals. All underwriting decisions shall be final and only overturned by the Vice President of Mortgage Operations or the Credit Manager

* Review all title commitments to ensure all liens and encumbrances are properly disposed of, ensure title policy amounts are equal to the loan amount granted, and review tax, and homeowners insurance costs are calculated correctly for debt to income and other guideline requirements

* Submit loan applications greater than 80% to appropriate private mortgage insurance companies and ensure all PMI conditions are within the file prior to issuing a Clear to Close

Minimum Qualifications

Educational Requirements

High School Diploma or GED required.

Specialized underwriting training required

Certificates/Licenses

Reliable transportation is required.

Experience

3 years lending experience in a decision-making role

2 years experience underwriting and processing loans

2 years processing and/or closing FHA, VA, FHLMC, FNMA, 184, and USDA loans

2 years proven ability to read and interpret credit reports

Additional Requirements

Job Knowledge

* Intermediate computer skills utilizing Word, Excel, FSP Creative Visions, ILS required for processing and servicing loan and account information preparing correspondence, spreadsheets, and reports

* Ability to learn proprietary computer software such as Encompass, FSP, OnBase, Touche' and Cisco Agent

* Desktop Proven excellent organization skills and attention to detail and accuracy

* Experience in processing & closing FHA, VA, FHLMC, FNMA, 184, & USDA mortgages

* Working knowledge of underwriting requirements

* Ability to read and understand a credit report and appraisals

* Well developed research skills, proven analytical and critical thinking skills and the ability to identify, review, and communicate appropriate recommendations

* Ability to independently manage the details of multiple projects, track, activities, and meet deadlines

Interpersonal Skills

* Intermediate written and verbal communication skills required to facilitate sharing of information with members, staff, and external contacts.

* Ability to create an atmosphere which promotes TTCU's Core Values by maintaining a high level of personal integrity, presenting a friendly, enthusiastic, and professional demeanor while providing extraordinary service to employees and members and fostering teamwork among employees.

Working Conditions

Work Environment

* Routinely perform indoors in climate controlled shared work area with minimal noise

* Must be able to perform job functions independently or with limited supervision and work effectively either on own or as part of a team. Must be able to read and carry out various instructions and follow oral instructions. Must be able to speak clearly and deliver information in a logical and understandable sequence. Must be able to perform basic mathematical calculations with extreme accuracy. Must be capable of dealing calmly and professionally with numerous different personalities from diverse cultures at various levels within and outside of the organization and demonstrate highest levels of customer service and discretion when dealing with the public. Must be able to perform responsibilities with composure under the stress of deadlines/requirements for extreme accuracy and quality and/or fast pace. Must be able to effectively handle multiple, simultaneous, and changing priorities. Must be capable of exercising the highest level of discretion on both internal and external confidential matters.

Physical Demands

* Must be able to remain in a stationary position (e.g., sitting at a desk) for extended periods.

* Occasional movement around the office to attend meetings or collaborate with team members.

* Ability to operate a computer and other office equipment as needed.