Job Description

Title: Direct Endorsement Mortgage Underwriter

Department: Mortgage Lending

Reports to: Associate Vice President of Mortgage Lending

FLSA: Non-Exempt

Job Grade: 13

Job Purpose: Ensures that conventional and portfolio mortgage loans are underwritten in a timely manner and according to credit union and investor policies as well as legal requirements.

Essential Job Results:

• Responsible for underwriting conventional and portfolio residential mortgages according to guidelines.

• Responsible for underwriting government mortgages according to guidelines.

• Assist mortgage loan officers with questions related to structure, purpose, credit decision and/or general qualification requirements.

• Respond to post-closing exceptions for loans sold on secondary market and retained within the credit union’s portfolio.

JOB SPECIFIC RESULTS:

To complete the essential job results, mortgage underwriter should:

• • Review loan files for accuracy of documentation and verifications.
  • Analyze borrower income, assets and liabilities. This includes, but is not limited to:
    • review income documentation for all income sources
    • review credit reports
    • verify debts on and off the credit report
    • calculate appropriate underwriting ratios, such as LTV and DTI
    • analyze borrowers’ assets and applicable reserve requirements
  • Issue necessary conditions needed to satisfy completeness and accuracy of the file prior to closing
  • Analyze appropriate property valuation to determine conformity and performs appropriate review
  • Review title commitment and legal description to ensure approved lien position
  • Warrant to investor the loan is conforming to investor guidelines
  • Issue credit decision based on all supporting documentation within the file
  • Recommend proper structure and appropriate loan program based on loan purpose, credit worthiness, and borrowers’ ability to repay
  • Recognize and recommend other financing opportunities to ensure members are presented with available lending products
  • Work directly with post-closing to clear any exceptions identified during the funding process to secondary market investors and/or portfolio servicer
  • Train and develop mortgage underwriter

GENERAL STAFF RESULTS

• Maintains member and employee confidence and protects operations by keeping information confidential and sharing on a business-related as-needed basis only.

• Engages in problem resolution by clarifying the member’s and/or employee’s complaint; determining the cause of the problem; selecting and explaining the best solution to solve the problem; expediting correction or adjustment; following up to ensure resolution; and keeping the supervisor informed of problems and solutions.

• Complies with UKFCU policies and procedures by enforcing and adhering to internal UKFCU procedures and board-established policies.

• Complies with federal, state and local regulations and legal requirements by enforcing and adhering to requirements.

• Maintains professional and technical knowledge by maintaining an awareness of competitors’ rates and terms, industry trends and technology; attending staff meetings; identifying opportunities to attend seminars that enhance skills and maintain knowledge of new products that could assist in improving operational effectiveness; reviewing professional publications; establishing personal networks; benchmarking state-of-the-art practices; and participating in professional societies.

• Contributes to a team effort by accomplishing corporate and individual goals and other related results as needed.

KEY COMPETENCIES

• Professionalism in all communications.
• Commitment to the Credit Union movement and philosophy.
• Integrity in all actions.
• Ability to identify the needs of the member and provide recommendations to meet those needs.
• Accountability to established metrics and performance goals.
• Demonstrate the following key leadership attributes: Collaboration and Teamwork, Professional Responsibility, Courage and Respect, Development of the Team, and Planning for the Future.

MINIMUM REQUIREMENTS

• Five to seven years of similar or related experience required. Three to five years of experience with secondary market lending required.
• Direct Endorsement Certification required
• Associate’s degree or equivalent experience
• Strong understanding of federal and state mortgage regulations
• Ability to communicate with others one-on-one; fielding questions, explaining decisions, and responding to complaints
• Ability to work with other employees
• Strong attention to detail required
• Ability to define problems, collect data, establish facts and draw conclusions while dealing with a variety of abstract and concrete variables
• Ability to write reports, correspondence and procedures
• Ability to work independently
• Ability to be self-motivated
• Ability to work with strict deadlines and under pressure

PHYSICAL DEMANDS:

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee is regularly required to sit and stand; use hands to finger, handle, or feel objects, tools, or controls; reach with hands and arms; and talk or hear. The employee frequently is required to walk and stand. The employee is occasionally required to stoop, kneel, crouch, or crawl. The employee must occasionally lift and/or move up to 25 pounds. Specific vision abilities required by this job include close vision, distance vision, color vision, peripheral vision, depth perception, and the ability to adjust focus.

WORK ENVIRONMENT:

The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. The employee will be required to work indoors in a climate-controlled office setting. The noise level in the work environment is usually moderate.

MENTAL DEMANDS:

The mental characteristics necessary to competently perform this job include the occasional need to be persuasive, use good judgment; and, the continuous need to use auditory perception, memory, and reasoning ability.

• The intent of this job description is to provide a representative summary of the types of results that will be required of the positions given this title, and shall not be construed as a declaration of the specific responsibilities of any particular position. Employees may be requested to perform job-related tasks other than those specifically outlined in this description.

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UKFCU is an equal employment opportunity employer and is committed to providing employment opportunities to minorities, females, veterans, and disabled individuals. UKFCU invites you to review the current "EEO Is the Law" poster as part of the application process. A link to the most current posters is here. Please also see the 2015 Supplemental EEO Poster here.

Applications are only accepted through our online application system. However, if you need assistance with any part of the application process or are unable to apply online because of a medical condition or disability and need an accommodation, please contact [email protected] let us know the nature of your request. Please note, UKFCU accepts only employment applications that are complete and received by the Office of Human Resources by the specified deadline for each opening.

The Credit Union leadership recognizes that to achieve its vision and mission, it must embed the values of Diversity, Equity, and Inclusion (DEI) in all aspects of the Credit Union’s work. Together, the staff, membership and communities are diverse and as such, the Credit Union must reflect and respect that diversity. The Credit Union’s leadership recognizes and believes when an organization’s leadership and staff are representative of the people that it serves, it can better meet its vision and mission. Further, the Credit Union leadership believes that it benefits when diverse perspectives are represented, respected and included among the discourse and decision-making that takes place at the Credit Union, and with and among its staff, membership and communities.

This position allows for an optional hybrid work arrangement which includes a combination of both in-office and remote work arrangements. (Maximum of two days remote, three days in-office). To be eligible for the program, employees must complete a minimum of 90 days of continuous, regular employment, be in good standing, and submit a formal hybrid work application prior to being eligible for hybrid work, pending supervisor approval. Work schedules will be established by the employee's supervisor according to business needs. Working locations and schedules may be altered at management discretion.

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