Direct Federal Credit Union
Mortgage Loan Underwriter
Direct Federal Credit Union, Suitland, MD
Responsible for analyzing and underwriting mortgage loan files and all documentation needed to determine the risk and compliance within guidelines to render a credit decision.
ESSENTIAL DUTIES
• Performs an in-depth analysis of all loans and documentation to ensure compliance with company and/or investor guidelines.
• Underwrites and evaluates risk associated with the transaction in order to make a sound, prudent loan decision.
• Reviews all documentation on the loan received from the originators, processor(s) and/or members.
• Communicates file status and/or any problems with a loan to any necessary party.
• Interacts closely with management, staff and members to achieve divisional goals in turn time, pull through and member satisfaction.
• Manages pipeline for timely and accurate underwriting of loan files to maintain consistent and acceptable turnaround times.
• Analyzes collateral and appraisal reports to determine the acceptability of the collateral, that the value is supported and that it meets investor, Andrews Federal and secondary market guidelines.
• Reviews all major changes in the loan throughout the process to determine whether those changes will affect the original credit decision and make necessary adjustments as required. Transmit, submit and update AUS findings as required.
• Collaborates with management on questionable loans to determine a possible course of action.
• Assists in the audit and response to Quality Control and Audit findings.
• Maintains current knowledge on mortgage products, underwriting guidelines and industry regulations.
• Attends work regularly and accordance to work schedule; limits absences according to personnel policies regarding leave usage.
• Interacts with co-worker, supervisors, members and outside contacts in an appropriate professional manner which projects a positive image of the department and Andrews Federal.
• Remains cognizant of and adheres to Andrews Federal policies and procedures, and regulations pertaining to the Bank Secrecy Act.
• Supports management with special projects and assignments as required.
• Performs additional duties and responsibilities as directed.
EDUCATION
• High school diploma, GED, or equivalent required.
REQUIRED EXPERIENCE
• Requires five to ten years of conventional mortgage underwriting experience.
• Must be familiar with Fannie Mae guidelines and possess a demonstrated knowledge of lending policies, procedures and regulations (e.g. Truth-in-Lending, HMDA, RESPA, ECOA, Fair Credit Reporting Act, and Bank Secrecy Act).
• Must possess an analytical ability to conduct a thorough review of an applicant's financial position and documentation in order to provide a final decision on the loan within program guidelines.
• Must have a thorough understanding of the requirements and features of the mortgage loan programs offered by Andrews Federal, private investors, and the secondary market.
• Knowledge of FHA and VA loan guidelines preferred.
• Knowledge of FICS mortgage origination and servicing software preferred.
• Must have strong PC skills including word processing and spreadsheets.
• Must have excellent organizational, verbal and written communication skills.
• Must be detail oriented.
• Must be registered or be able to successfully register as a Mortgage Loan Originator with the Nationwide Mortgage Licensing System and Registry, and to obtain and provide the associated identifier.
• Must be able to maintain this registration and renew annually as required.
• Must not be included on the US General Services Administration (GSA) Excluded Party List or the HUD Limited Denial of Participation List (LDP List) at the time of hire or during the course of employment.
PHYSICAL REQUIREMENTS
• Requires the ability to sit at a desk and computer for extended periods of time.
• Must be able to use a personal computer, 10 key calculator, telephone, and fax machine.
ESSENTIAL DUTIES
• Performs an in-depth analysis of all loans and documentation to ensure compliance with company and/or investor guidelines.
• Underwrites and evaluates risk associated with the transaction in order to make a sound, prudent loan decision.
• Reviews all documentation on the loan received from the originators, processor(s) and/or members.
• Communicates file status and/or any problems with a loan to any necessary party.
• Interacts closely with management, staff and members to achieve divisional goals in turn time, pull through and member satisfaction.
• Manages pipeline for timely and accurate underwriting of loan files to maintain consistent and acceptable turnaround times.
• Analyzes collateral and appraisal reports to determine the acceptability of the collateral, that the value is supported and that it meets investor, Andrews Federal and secondary market guidelines.
• Reviews all major changes in the loan throughout the process to determine whether those changes will affect the original credit decision and make necessary adjustments as required. Transmit, submit and update AUS findings as required.
• Collaborates with management on questionable loans to determine a possible course of action.
• Assists in the audit and response to Quality Control and Audit findings.
• Maintains current knowledge on mortgage products, underwriting guidelines and industry regulations.
• Attends work regularly and accordance to work schedule; limits absences according to personnel policies regarding leave usage.
• Interacts with co-worker, supervisors, members and outside contacts in an appropriate professional manner which projects a positive image of the department and Andrews Federal.
• Remains cognizant of and adheres to Andrews Federal policies and procedures, and regulations pertaining to the Bank Secrecy Act.
• Supports management with special projects and assignments as required.
• Performs additional duties and responsibilities as directed.
EDUCATION
• High school diploma, GED, or equivalent required.
REQUIRED EXPERIENCE
• Requires five to ten years of conventional mortgage underwriting experience.
• Must be familiar with Fannie Mae guidelines and possess a demonstrated knowledge of lending policies, procedures and regulations (e.g. Truth-in-Lending, HMDA, RESPA, ECOA, Fair Credit Reporting Act, and Bank Secrecy Act).
• Must possess an analytical ability to conduct a thorough review of an applicant's financial position and documentation in order to provide a final decision on the loan within program guidelines.
• Must have a thorough understanding of the requirements and features of the mortgage loan programs offered by Andrews Federal, private investors, and the secondary market.
• Knowledge of FHA and VA loan guidelines preferred.
• Knowledge of FICS mortgage origination and servicing software preferred.
• Must have strong PC skills including word processing and spreadsheets.
• Must have excellent organizational, verbal and written communication skills.
• Must be detail oriented.
• Must be registered or be able to successfully register as a Mortgage Loan Originator with the Nationwide Mortgage Licensing System and Registry, and to obtain and provide the associated identifier.
• Must be able to maintain this registration and renew annually as required.
• Must not be included on the US General Services Administration (GSA) Excluded Party List or the HUD Limited Denial of Participation List (LDP List) at the time of hire or during the course of employment.
PHYSICAL REQUIREMENTS
• Requires the ability to sit at a desk and computer for extended periods of time.
• Must be able to use a personal computer, 10 key calculator, telephone, and fax machine.