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Senior Underwriter - Real Estate

We have an opportunity for a Senior Real Estate Underwriter who will be responsible for the timely and accurate underwriting of mortgage loans.  In this role, you will maintain effective communication with member(s), mortgage broker(s), loan counselor(s), loan processor(s) and/or realtor(s) as you review files for completeness and identify critical missing information.  Ideal candidate will have strong attention to detail and work well in a team.   Productivity Expectations: Underwrite 2 – 3 Loans Daily

 

ESSENTIAL RESPONSIBILITIES: 

  • Thorough understanding of manual underwriting fundamentals and able to implement changing overlays to ensure quality files meet investor, FNMA and FHA/VA guidelines.
  • Evaluates the degree and seriousness of data discrepancies to ensure loan meets guidelines. 
  • Review all documentation submitted to determine if it is sufficient to satisfy outstanding underwriting condition(s).
  • Grants final approval within delegated authority.  
  • Prepare loan file for review and approval by either second approval signer or loan committee.
  • Knowledge of FHA, FNMA and FHLMC underwriting and secondary marketing guidelines.
  • Knowledge of regulatory compliance guidelines. 
  • Verifies income, cash reserves, property value (appraisals), credit reports, preliminary title reports, down payment sources and  escrow instructions to ensure every document satisfies FPCU and Secondary Market Investor underwriting criteria and guidelines. 
  • Ensure documents are reviewed and analyzed quickly to determine if additional information is needed.
  • Complete all Loan Origination System Path requirements.
  • Works directly with Loan Processors, Funders and Loan Officers and provide training when necessary 
  • Identify and take appropriate actions to mitigate quality control concerns
  • Identify sales opportunities and cross sell FPCU products and services
  • Render credit decisions that benefit member needs and credit union security.

 

EDUCATION and/or EXPERIENCE:

Minimum five years of Real Estate Lending Underwriting responsibility and authority. 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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