Real Estate Underwriter

Real Estate Underwriter

The Mortgage Loan Underwriter underwrites loans in accordance with Company and Investor guidelines by following the company's policies and procedures under general supervision. Makes sound underwriting decisions and ensures that all decisions meet legal and policy requirements. Perform all duties in accordance with the company's policies and procedures, all US state and federal laws and regulations, wherein the company operates.

Major Duties and Essential Functions

• Performs thorough analysis of conventional real estate loan products offered by the Credit Union.
• Completes review of credit, income, asset and property to ensure the loan file meets guidelines and is within compliance.
• Identifies risk factors within each loan and utilizes resources, tools, and documentation to detect red flags and clear inconsistencies.
• Review appraisals to validate collateral value, marketability and equity position as well as ensure the appraisal meets the secondary market or product guidelines.
• Maintain specialized knowledge of mortgage trends and developments to include but not limited to, internal changes, regulatory changes, insurance and secondary market changes.
• Ensure compliance with federal and state laws and regulations governing mortgage underwriting.
• Document loan with detailed notes for seamless transition to processing and closing.
• Communicate and respond to Operations staff in a timely manner regarding any deficiencies within loan files.
• Manage file through the milestones to meet closing date.
• Additional duties as assigned.

Specific knowledge, skills, and abilities required for this position :

Education and Experience :

Physical Activities and Requirements of this Position

CATEGORY

DESCRIPTION

Finger Dexterity

Using primarily just the fingers to make small movements such as typing, picking up small objects, or pinching fingers together.

Grasping

Using fingers and palm on an object.

Talking

Especially where one must frequently convey detailed or important instructions or ideas accurately, loudly, or quickly.

Repetitive Motions

Movements frequently and regularly require using the wrists, hands, and / or fingers.

Average Hearing

Able to hear average or normal conversations and receive ordinary information.

Average Visual Abilities

Average, ordinary, visual acuity necessary to prepare or inspect documents or products, or operate machinery.

Sedentary Work

While performing the duties of this job, the employee will frequently talk or hear, sit, use hands to handle or feel, and reach with hands or arms. The employee will occasionally, stand and walk, climb or balance, and stoup, kneel, crouch, or crawl. The employee will occasionally lift and move up to 10 pounds.

Working Conditions of this Position

DESCRIPTION

None. No hazardous or significantly unpleasant conditions.

Mental Activities and Requirements of this Position

Reasoning Ability : The ability to use common sense or logic.

Detailed

Ability to define problems, collect data, establish facts, and draw valid conclusions.

Mathematical Ability : The level of ability required to perform math skills and operations.

Basic

Ability to calculate figures and amounts such as discounts, interest, commissions, proportions & percentages.

Language Ability : The level of ability required to communicate and understand written and oral language.

Typical

Ability to write moderate to complex documents. Ability to communicate in complex sentences, using normal word order with present and past tenses and strong vocabulary. Ability to read, analyze, and interpret common technical and legal documents. Ability to respond to common inquiries or complaints from borrowers.

Compliance requirement

The responsibilities contained within this job description remains compliant with Bank Secrecy Act / Anti-Money Laundering, Office of Foreign Assets Control and USA PATRIOT Act as they apply to the duties of the position.

Disclaimer

The information in this job description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities and qualifications required of employees assigned to this job, which may vary on the department or the assignment. The actual essential duties, responsibilities and qualifications may vary by department, reporting structure and other business needs. No inference should be drawn that a specific job duty, responsibility or qualification is non-essential by its absence from this description.