Mortgage Underwriter

Mountain America Credit Union; United States; Hybrid; USD 70,000 - 100,000; Full time

Job summary

Mountain America Credit Union is seeking a Mortgage Underwriter to assess and verify information provided by the Mortgage Loan Officer in line with credit union policies and NCUA/CFPB regulations.

The role involves analyzing lending reports, utilizing automated underwriting systems, and recommending actions to improve lending and ensure timely closings. Candidates need 1–3 years of related experience and a Four-year college degree.

Qualifications

• Bachelor's degree or equivalent required.
• 1–3 years of mortgage underwriting experience preferred.
• Knowledge of ATR, TRID, CFPB and NCUA regulations.
• Ability to analyze income, employment, credit; verify information per policies.

Responsibilities

• Underwrites and analyzes mortgage loans in compliance with policies and regulations.
• Gathers and verifies information from Mortgage Loan Officer; uses automated underwriting systems (LP/DU).
• Makes recommendations and approvals/denials up to $750K for Secondary Market purchases and refinances.
• Evaluates income, employment, credit reports, appraisals and title reports for risk and accuracy.
• Ensures proper disclosures and adherence to RTR/Real Estate mandated requirements.

Skills

Analytical skills

Communication skills

Regulatory knowledge

Mortgage underwriting

Education

Bachelor's degree or equivalent

Tools

10-Key

Windows

Outlook

MS Office

Job description

Job Summary

Underwrites, gathers and verifies all necessary information provided by the Mortgage Loan Officer in compliance with credit union policies, procedures and NCUA/CFPB regulations. Accurately analyzes lending reports and makes recommendations on improving lending practices. Runs Loan Quality Initiative and prepares for closing.

Responsibilities

• Demonstrates strong analytical abilities when running and analyzing automated underwriting systems for Freddie MAC and Fannie Mae (LP and DU).
• Strong communication skills when approving and denying Secondary Market purchases and mortgage refinancing requests and recommending approval and denials up to $750K.
• Provides strong expertise in Secondary Market, CFPB, NCUA regulations regarding Ability to Repay, TRID, Fair Lending.
• Provides thorough understanding of MACU portfolio programs as well as secondary market guidelines for external investors (learning over 60+ different programs, their processes and guidelines).
• Calculates and verifies income and employment in accordance with CFPB “Ability to Repay” regulations and MACU guidelines.
• Evaluates and analyzes borrower’s credit reports.
• Calculates income from personal and business tax returns in accordance with secondary market guidelines and CFPB Ability to Repay (ATR) regulations.
• Evaluates appraisals for accuracy, addresses any concerns regarding comparables with appraiser.
• Provides analysis of title reports, eliminating any risks for junior liens, addressing any shared well, egress issues, ensuring MACU has first position on all title work.
• Reorders and evaluates any verification of deposits, employment verifications, tax transcripts, subordinations and assesses any concerns – through LQI.
• Understands Secondary Market, NCUA, CFPB TRID/Real Estate mandated disclosures and their proper distribution in accordance with rules and regulations, as well as the impacts those have on loan decisioning, loan timing, loan closing, borrower access to funds, etc.
• Resolves a range of complicated issues with a high degree of interpersonal skills when working with loan officers, borrowers, Sr. Underwriters and closers.

Knowledge, Skills and Abilities

The requirements listed are representative of the knowledge, skills, and/or abilities required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential job functions.

Experience

• 1 - 3 years of similar or work related experience.

Education

• Four year college degree or equivalent in job related history.

Licenses, Certificates, Registrations

• Must be able to qualify for an NMLS number under S.A.F.E Act.

Managerial Responsibility

• None.

Interpersonal Skills

Courtesy, tact, and diplomacy are essential elements of the job. Work involves much personal contact with others inside and/or outside the organization for purposes of giving or obtaining information, building relationships, or soliciting cooperation.

Other Skills and Abilities

Must have the ability to read and interpret documents such as safety rules, operating and maintenance instruction, and procedure manuals. Knowledge of real estate lending, Credit Union policies/procedures, compliance, and lending regulations. Must have excellent customer service, leadership, communication, organizational and analysis skills. Ability to write routine reports and correspondence. Ability to speak effectively before groups of employees, members, or clients.

Computer/Office Equipment Skills

• Intermediate to Advanced skills in the following: Adding machine/10-Key, computer operating skills (Windows navigation, mouse/keyboard functionality), Microsoft Outlook, Microsoft Office Suite.
• Must be able to type a minimum of 35 words per minute.
• Maintains confidentiality with others since information involves complex, detailed and often sensitive topics.
• Develops and maintains quality time frames and management of pipeline to achieve and meet required REPC purchase contracts.

Physical Requirements / Working Conditions

Physical Demands: Requires Frequent Standing, Walking, Sitting, Using hands to handle or feel, Reaching with hands and arms, Talks and hears. Occasionally climbs, kneels or crawls. Vision Requirements: Requires Close, Distance, Peripheral and Depth perception vision as well as the ability to focus. Weight Lifted or Force Exerted: Frequently lifts up to 10 lbs, occasionally lifts up to 25 pounds and rarely lifts up to 100 pounds. Environmental: Office type conditions, indoors. Noise Environment: Moderate Noise such as in a business office with equipment and light traffic.

This Job is not eligible to be performed in Colorado or Connecticut, either remotely or in-person.

Mountain America Credit Union is an EEO/AA/ADA/Veterans employer.