DescriptionSummary:
The Mortgage Underwriter reviews and evaluates residential mortgage loan applications to determine borrower eligibility, repayment ability, collateral acceptability, and overall credit risk. This role makes sound underwriting recommendations and decisions in accordance with agency, investor, regulatory, and internal lending guidelines while supporting timely loan processing and member service.
Education and/or Experience:
- High school diploma or equivalent required
- Minimum two years of residential mortgage underwriting experience required; additional mortgage processing, closing, or lending experience preferred
- Experience reviewing Conventional, FHA, VA, USDA, HELOC, or Portfolio loan products preferred
- Working knowledge of automated underwriting systems such as DU and LPA, as well as applicable manual underwriting standards, required
- Knowledge of federal and state mortgage lending regulations, agency guidelines, investor requirements, and credit union policies required
- Strong analytical, organizational, communication, and problem-solving skills with attention to detail required
Job Responsibilities
- Underwrites Conventional, FHA, VA, USDA, HELOC, and Portfolio mortgage loan files in accordance with applicable guidelines and assigned authority
- Reviews and analyzes borrower credit, income, employment, assets, liabilities, collateral, title, and supporting documentation to determine loan eligibility
- Applies Fannie Mae, Freddie Mac, FHA, VA, USDA, investor, and internal underwriting policies when evaluating loan files
- Issues clear and accurate underwriting decisions, conditions, suspensions, or recommendations with appropriate documentation
- Identifies credit, compliance, fraud, and collateral-related risks and escalates concerns as appropriate
- Reviews appraisals and collateral documentation for acceptability and compliance with applicable standards and appraisal independence requirements
- Communicates with processors, loan officers, closers, and other internal partners to obtain required information, clarify conditions, and support timely loan decisions
- Maintains current knowledge of mortgage underwriting guidelines, regulatory requirements, and product changes
- Meets established turn times, productivity expectations, and quality standards while maintaining accurate file documentation
- Performs other duties as needed upon request from immediate supervisor
Benefits of Joining the Teachers Team:
We provide a competitive compensation and benefits package that includes, but is not limited to:
- Paid time off for vacation, personal days, and holidays
- 401(k) company contribution
- Teachers pays 100% of Dental & Vision premium
- Tuition reimbursement is offered to full-time employees
- Exclusive employee discount of 0.96% APR on credit card loans and a 1.00% APR on all other loans through Teachers
The salary for this position is $36.00 to $43.25 hourly. This range is an estimate, based on potential employee qualifications and operational needs. The salary may vary above and below the stated amounts, as permitted by applicable law.
To learn more about Teachers and to view a full list of our job opportunities please visit https://www.teachersfcu.org/about/careers
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