Real Estate Underwriter

 
We are currently looking for a temporary Real Estate Underwriter to help us with increased business.  

The underwriter is responsible for the timely and accurate underwriting of mortgage loans. Maintain effective communication with member(s), mortgage loan consultant(s), loan processor(s) and funder(s). 

Review files for completeness and identify critical missing information. Evaluates the degree and seriousness of data discrepancies to ensure loan meets guidelines. Validates automated underwriting (DU/LPA) findings to ensure accurate input of loan data and that the loan meets Agency guidelines. Underwrite application in accordance to Agency and FPCU Home Equity Product, and FPCU underwriting policies/guidelines.  

Review all documentation submitted to determine if it is sufficient to satisfy outstanding underwriting condition(s). Grants final approval within delegated authority on Fannie Mae, Freddie Mac and FPCU Home Equity Product. If outside of their delegated authority, prepare loan file for review and approval by either second approval signer or loan committee.  

Productivity Expectations: Underwrite 2 – 3 Loans Daily 

 

ESSENTIAL RESPONSIBILITIES: 

  • Through understanding of automated underwriting fundamentals and able to implement changing overlays to ensure quality files meet investor, Fannie Mae and Freddie Mac guidelines. 
  • Knowledge of Fannie Mae, Freddie Mac and FPCU Home Equity underwriting and guidelines. 
  • Knowledge of regulatory compliance guidelines.  
  • Based upon the type of loan requested: verifies income, verifies assets including down payment sources and cash reserves, property value (appraisals), credit reports, preliminary title reports, escrow instructions, and/or purchase agreements to ensure every document satisfies FPCU and Agency underwriting criteria and guidelines.  
  • Return phone calls and emails promptly 
  • Ensure documents are reviewed and analyzed quickly to determine if additional information would be needed. 
  • Complete all Loan Origination System Path requirements. 
  • Works directly with Loan Processors, Funders and Mortgage Loan Consultants 
  • Provides training and mentoring as necessary  
  • Identify and take appropriate actions to mitigate quality control concerns 
  • Render credit decisions that benefit member needs and credit union security. 
  • Identify sales opportunities and cross sell FPCU products and services 

 

 

EDUCATION and/or EXPERIENCE: 

· Associate's degree (A. A.) or equivalent from two-year college or technical school; or three to five years of related experience and/or training; or equivalent combination of education and experience. Bachelor’s degree preferred. 

· Knowledge of State and Federal Real Estate lending compliance and regulations. 

· Ability to evaluate strategies, prioritize activities and make effective use of resources.  

· Excellent analytical and decision-making aptitude. Strong verbal and written communication aptitude. Strong negotiation skills.  

· Thorough knowledge of complex personal and business financial analysis and an expertise in tax return and balance sheet analysis.  

· Ability to listen effectively, present ideas clearly, concisely and in an organized and interesting manner.  

· Ability to use PC in a windows environment, basic word processing and spreadsheet functions.  

· Ability to think creatively. Basic Business Math and business writing.  

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