Direct Endorsement Mortgage Underwriter

Job Details Job Location Corporate Offices - Lexington, KY Position Type Full Time Education Level 2 Year Degree Salary Range $44. 52 - $47. 36 Hourly Job Shift Day Job Category Finance Description

Title: Direct Endorsement Mortgage Underwriter

Department: Mortgage Lending

Reports to: AVP of Mortgage Lending

FLSA: Non-Exempt

Job Grade: 13 (Estimated annual salary between $92,601. 60 and $98,508. 80)

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

Essential Job Results:

1. Responsible for underwriting conventional and portfolio residential mortgages according to guidelines.
2. Responsible for underwriting government mortgages according to guidelines.
3. Assist mortgage loan officers and processors with questions related to structure, purpose, credit decision, closing conditions, required documentation, and/or general qualification requirements.
4. 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, the Direct Endorsement 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 income based on investor and Credit Union requirements
    • analyze borrowers' assets and applicable reserve requirements
  • Issue necessary conditions needed to satisfy completeness and accuracy and ensure documents are in file prior to closing
  • Analyze appropriate property valuation to determine CLTV and that the property conforms to investor or credit union guidelines as well as perform appropriate review of the valuation
  • 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 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 all available lending products
  • Ensure all underwriting documentation has been uploaded to mortgage software's document imaging system
  • Work directly with post-closing to clear any exceptions identified during the funding process to secondary market investors and/or portfolio servicer
  • Complete various reporting as needed
  • Assist in development and maintenance of underwriting related procedures
  • Serves as backup to the Mortgage Underwriter
  • Train and develop Mortgage Underwriter

GENERAL STAFF RESULTS

1. Maintains member and employee confidence and protects operations by keeping information confidential and sharing on a business-related as-needed basis only.
2. 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.
3. Complies with UKFCU policies and procedures by enforcing and adhering to internal UKFCU procedures and board-established policies.
4. Complies with federal, state and local regulations and legal requirements by enforcing and adhering to requirements.
5. 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.
6. 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
• High School diploma or GED required
• 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 di.