|Date Posted||June 8, 2022|
Jax Federal Credit Union is seeking a Mortgage Underwriter to ensure mortgage loan files are underwritten in accordance with credit union policy and procedure and that they meet all secondary market and investor guidelines. Responsible for the underwriting of the Credit Union's residential lending/agency (FHLMC) programs as well as portfolio underwriting. Is proficient and adheres to Credit Union and Investor credit and collateral loan policies and procedures. Ensures each mortgage loan is underwritten in accordance with all investor guidelines and in compliance with government regulations applicable to the residential underwriting guidelines, office operations and support staff functions. Makes sound lending decisions within their board assigned lending authority up to $500,000. Responsible for supporting the Credit Union's residential lending programs by providing services of underwriting for all residential loan products.
Location: Park Street Building, 562 Park St, Jacksonville, FL 32204
Status: Full-Time (40 hours per week)
Major Duties and Responsibilities:
- Perform Underwriting of Conventional and/or FHA/VA mortgage loans.
- Approves or rejects residential loans within prescribed authority.
- Analyzes borrower’s credit profile, collateral, and capacity to repay the proposed mortgage obligation.
- Ensures that appraisals meet investor and/or credit union requirements and that the value is reasonable and well supported.
- Ensures loans meet portfolio or investor guidelines.
- Establish a working knowledge of lending programs and underwriting guidelines, including secondary marketing requirements.
- Accurately calculates borrower’s income and debt-to-income ratios.
- Documents lending decisions and completes required screens in the loan origination system that include accurate completion of the 1008 as well as adding and/or creating applicable conditions on the loan approval.
- Records loan rejections, and basis for denial. Responsible for creating appropriate action on denied and cancelled loan applications.
- Run, reads and interprets automated underwriting decision results from Loan Product Advisor.
- Reviews conditions submitted on loans and sign off on conditions where appropriate.
- Provides strong expertise in secondary market, CFPB, NCUA regulations regarding ability to repay, TRID, and Fair Lending.
Knowledge & Skills
- 2-4+ years of residential mortgage loan underwriting experience, with specific experience in FHLMC.
- Correspondent lending experience.
- Expert with Freddie Mac LP programs and policies.
- Knowledge of federal and state regulatory requirements.
- Thorough understanding of credit, underwriting, credit policy and financial analysis in portfolio underwriting.
- Experience with loan types including Conventional, FHA and VA.
- Strong analytical and decision-making skills.
- Knowledge of Freddie Mac Loan Product Advisor.
- Ability to work with Origination and Processing staff.
- Must be familiar with fraud detection techniques.
- Microsoft Office proficiency required.
- FICS or Encompass LOS knowledge preferred.
- Takes a strategic approach to problem solving and/or decision making.
- Production-oriented by setting high expectations for self and others and functions efficiently and effectively under deadlines and stress while maintaining a professional and mature demeanor.
A college degree.
A significant level of trust, credibility and diplomacy is required. In-depth dialogue, conversations and explanations with customers, direct and indirect reports and outside vendors can be of a sensitive and/or highly confidential nature. Communications may involve motivating, influencing, educating and/or advising others on matters of significance. Typically includes subject matter experts as well as first level to middle managers.
Is responsible for a width of information including but not limited to the organizations current mortgage loan interest rates, commitment/rate lock/relock fee procedures, consumer loan products/rates/guidelines that are used in conjunction with Mortgage Lending and any loan origination software system.
Perform primarily sedentary work with limited physical exertion and occasional lifting of up to 10 lbs. Must be capable of climbing / descending stairs in an emergency situation. Must be able to operate routine office equipment including telephone, copier, facsimile, and calculator. Must be able to routinely perform work on computer for an average of 6-8 hours per day, when necessary. Must be able to work extended hours whenever required or requested by management. Must be capable of regular, reliable, and timely attendance.
Must be able to routinely perform work indoors in climate-controlled shared work area with minimal noise.
Mental and/or Emotional Requirements:
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 written instructions and follow oral instructions. Must be able to speak clearly and deliver information in a logical and understandable sequence. 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 highest level of discretion on both internal and external confidential matters.
Nothing in this position description restricts management’s right to assign or reassign duties and responsibilities to this job at any time. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. This job description is not a contract and should not be construed as a guarantee of employment for any specific period of time.
We are an Equal Opportunity Employer and do not discriminate against employees or applicants based on race, color, religion, sex/gender, national origin, disability, age, or any other category protected by law.