Mortgage Loan Underwriter

Dutchess County, NY - USA

Yearly Salary: $ 69000 - 79000

Posted on: 9 hours ago

Vacancies: 1 Vacancy

Job Summary

At TEGFederal Credit Union we pride ourselves on being more than just a financial institution; were a caring team dedicated to each other and our community. We are seeking an organized and detail-oriented Mortgage Loan Underwriterfor the Mortgage Department in our Hopewell Junction Branch to be responsible for approving or denying mortgage loans following Credit Union Standards.

This is an exciting opportunity to be a part of an organization that encourages individuals to learn grow advance and achieve excellence in a collaborative and supportive environment.

What youll do as the Mortgage Loan Underwriter (Responsibilities):

Responsible forunderwriting loan files to agencies investors and MI guidelines including portfolio products.
Ensures all documentation is compliant and follows relevant regulations and guidelines. Reviews borrower credit income and assets. Reviews property documentation including title commitments sales contracts insurance and flood determinations. Reviews and analyzes appraisals for value and compliance in accordance with industry standards. Evaluates acceptability of loan to investors.
Clears underwriting conditions electronically and ensures loan is complete accurate and complies with all investor guidelines and federal state and local regulations. Ensures commitments counteroffers declines and withdrawals are processed in an accurate compliant manner with file returned to appropriate operation staff for disposition. Completes all necessary forms to comply with regulatory investor credit union and agency guidelines. Records all appropriate data and status into the Loan Origination System.
Analyze loan risk and requests additional information as necessary making loan eligibility decisions and approving referring or rejecting loan applications within approved lending authority.
Responsible for staying up to date on all secondary market guidelines with special focus on Freddie Mac Fannie Mae FHLB and other credit union investors.
Assists mortgage officers and processors with preliminary income and collateral review as needed to assist with properly structuring transactions.

Performance Measurements:

To communicate underwriting decisions to involved parties in a timely manner.
Ensures all loans are underwritten and documented appropriately. Review must consider and address any red flags that could indicate fraud or misrepresentation.
Ensures established credit union and government standards for the mortgage industry are met at all times and strict compliance with policies procedures rules and regulations are adhered to.
Provide friendly accurate professional service to members and associates by responding to messages and correspondence within a timely manner.
Meet or exceed the minimum established individual goals each month.
Develop and maintain knowledge of all mortgage products and rates within the credit union and from the mortgage industry.

What you Bring:

Must have a minimum of two years underwriting experience or five years of similar or related experience in mortgage processing or origination.
Experience with conventional and portfolio loan programs required. Experience with jumbo construction and renovation government (FHA & VA) programs preferred.
A two-year college degree or completion of a specialized certification or licensing.
Work involves much personal contact with others both inside and outside the organization. Discussions involve confidentiality and discretion requiring diplomacy and tact in communication.
Detail oriented with strong data analysis skills. Must be familiar with current mortgage and compliance regulations- including but not limited to RESPA Reg Z Reg B ECOA TRID Fair Lending Appraisal Independence Requirements Ability to Repay Qualified Mortgage. Knowledge must include calculation and verification of income and assets evaluations of credit reports purchase contracts appraisals title commitments and other loan documentation.
Proficiency in use of mortgage loan origination systems preferably Mortgage Director automated underwriting systems and other mortgage related systems.
Must be highly organized be able to prioritize and work independently.

Perks & Benefits:

Work-life balance and supportive team-oriented environment
Comprehensivemedical dental and vision insurance
401K with company match
Defined benefit plan (Pension)
Paid Time Off and much more!

Pay: $69000 - $79000 / year based on experience plus eligible for annual Bonus.

APPLY NOW for immediate consideration!

TEG Federal Credit Unionis an Equal Opportunity are considered on the basis of skills experience and qualifications without regard to race age creed color nationality gender sexual orientation gender identity marital status military background disability or any other legally protected status. All employment related decisions are made in accord with this policy.

TEG Federal Credit Union participates in the E-Verify program to confirm the employment eligibility of all newly hired employees. For more information on E-Verify please visit .

What youll do as the Mortgage Loan Underwriter (Responsibilities):

Responsible forunderwriting loan files to agencies investors and MI guidelines including portfolio products.
Ensures all documentation is compliant and follows relevant regulations and guidelines. Reviews borrower credit income and assets. Reviews property documentation including title commitments sales contracts insurance and flood determinations. Reviews and analyzes appraisals for value and compliance in accordance with industry standards. Evaluates acceptability of loan to investors.
Clears underwriting conditions electronically and ensures loan is complete accurate and complies with all investor guidelines and federal state and local regulations. Ensures commitments counteroffers declines and withdrawals are processed in an accurate compliant manner with file returned to appropriate operation staff for disposition. Completes all necessary forms to comply with regulatory investor credit union and agency guidelines. Records all appropriate data and status into the Loan Origination System.
Analyze loan risk and requests additional information as necessary making loan eligibility decisions and approving referring or rejecting loan applications within approved lending authority.
Responsible for staying up to date on all secondary market guidelines with special focus on Freddie Mac Fannie Mae FHLB and other credit union investors.
Assists mortgage officers and processors with preliminary income and collateral review as needed to assist with properly structuring transactions.

Performance Measurements:

To communicate underwriting decisions to involved parties in a timely manner.
Ensures all loans are underwritten and documented appropriately. Review must consider and address any red flags that could indicate fraud or misrepresentation.
Ensures established credit union and government standards for the mortgage industry are met at all times and strict compliance with policies procedures rules and regulations are adhered to.
Provide friendly accurate professional service to members and associates by responding to messages and correspondence within a timely manner.
Meet or exceed the minimum established individual goals each month.
Develop and maintain knowledge of all mortgage products and rates within the credit union and from the mortgage industry.

What you Bring:

Must have a minimum of two years underwriting experience or five years of similar or related experience in mortgage processing or origination.
Experience with conventional and portfolio loan programs required. Experience with jumbo construction and renovation government (FHA & VA) programs preferred.
A two-year college degree or completion of a specialized certification or licensing.
Work involves much personal contact with others both inside and outside the organization. Discussions involve confidentiality and discretion requiring diplomacy and tact in communication.
Detail oriented with strong data analysis skills. Must be familiar with current mortgage and compliance regulations- including but not limited to RESPA Reg Z Reg B ECOA TRID Fair Lending Appraisal Independence Requirements Ability to Repay Qualified Mortgage. Knowledge must include calculation and verification of income and assets evaluations of credit reports purchase contracts appraisals title commitments and other loan documentation.
Proficiency in use of mortgage loan origination systems preferably Mortgage Director automated underwriting systems and other mortgage related systems.
Must be highly organized be able to prioritize and work independently.

Perks & Benefits:

Work-life balance and supportive team-oriented environment
Comprehensivemedical dental and vision insurance
401K with company match
Defined benefit plan (Pension)
Paid Time Off and much more!

Key Skills

Loan Processing
Time Management
Microsoft Office
Credit Analysis
Fraud
Math
Risk Analysis
Banking
Analysis Skills
Fair Housing Regulations
Underwriting
Data Analysis Skills

Apply Now

About Company

TEG Federal Credit Union

TEG is more than a bank. As your neighbors, we’re dedicated to helping you achieve your financial goals. Our friendly team understands your unique needs and offers personalized support every step of the way. Discover the TEG difference today

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