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Loan Underwriter

Location: Worcester
Posted on: November 18, 2020

Job Description:

Description PRIMARY FUNCTIONS: Underwrite and process mortgage and consumer loan requests and ensure credit requests meet the standards of Central One Credit Union’s policies and procedures. DUTIES and RESPONSIBILITIES: Perform underwriting on all residential, FHA, and VA mortgage and consumer loan files including indirect lending and Home Equities in a timely manner. Underwrite all loans to meet Federal and State Regulations along with all required disclosures properly completed. Determine the integrity of documentation in loan file to support the request. Ensure that all loans are underwritten and documented to funding/purchasing guidelines. Work within secondary market guidelines to ascertain eligibility of loan applications and consult FNMA underwriters. Work with Originators, Loan / Mortgage clerks and Loan Specialist to resolve closing conditions. Co-ordinate Home equity closings with branch staff and Mortgage clerks. Prepare, remit and maintain adverse action notices on application requests that have been withdrawn or denied, as required by Regulation B. Backup to Quality Control for inputting and settling loans sold to the secondary market. Assist the Lending Manager with credit union staff training and oversight of loan/mortgage clerks. Submit loans to PMI. Review appraisals and complex tax returns. Manage Loan Origination System form provider Prepare various reports for Management. Develop relationships and attain applicable COFCU sales goals Coordinate the delivery of Fannie Mae loans; i.e., setting rate, locking the rate and the delivery to. Monitor Fannie Mae delivery reports for accuracy and completeness. Stay current on job-related equipment, procedures and/or information by reading handouts/memos, attending meetings and seminars and other necessary means. Adhere to all applicable Credit Union policies, procedures and regulations. Maintain community involvement and participate in special projects, as needed. Perform other duties as requested, or assigned. Requirements Education: High School Diploma or equivalent required. Experience: 3 to 5 years of job-related experience in a mortgage lending environment with a minimum of three (3) years experience in mortgage lending. A thorough understanding of FNMA, VA & MHFA (General Lending, Lead Paint & Septic) and regulatory requirements is required. Skills: Skilled and comfortable in the use of personal computers, familiarity with investor and legal/regulatory requirements is preferred, knowledge of various mortgage products; ability to speak confidently about mortgage products and accurately complete mortgage applications Traits: Ability to perform detailed work in an accurate, organized and efficient manner. Work well with others in a team-oriented environment; ability to exercise judgement and make decisions or recommendations; dependable and loyal; self-starter who is willing to take initiative, innovate and be creative to improve departmental operation and member service. Must be detailed oriented with strong communication skills.

Keywords: CENTRAL ONE FEDERAL CREDIT UNION, Worcester , Loan Underwriter, Other , Worcester, Massachusetts

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