The Sr. Real Estate Underwriter is responsible for analyzing and assessing risk and compliance of residential mortgage loan applications. The Sr. Real Estate Underwriter will conduct a thorough evaluation of credit, income, asset and property documents, identify potential risks and decision files in accordance with GSE, Investor and Credit Union guidelines. The Sr. Real Estate Underwriter is expected to demonstrate operational and technical excellence and ensure that loans meet the Credit Union's policies and procedures.
Responsibilities: - Underwrite and decision all mortgage loan products in accordance with GSE, Investor and Credit Union guidelines. Perform credit risk and property analysis and condition loan files accordingly.
- Identify and thoroughly investigate any potential credit risks in the loan files.
- Underwrite complex tax returns and accurately calculate income.
- Possess expert knowledge of residential mortgage underwriting, including knowledge of Fannie Mae, Freddie Mac, CALHFA and FHLB underwriting/ selling guidelines.
- Possess expert knowledge with mortgage loan documents and ability to review those documents efficiently with low error rate.
- Possess knowledge of and adhere to regulatory requirements related to mortgage lending as well as all Credit Union policies.
- Complete all assigned Underwriting duties in compliance with posted turn times. Sr. Underwriter is expected to handle higher volume workloads than a non-Sr. Underwriter.
- Possess knowledge of automated and traditional underwriting systems and the representations and warranties associated with such products.
- Input data in Loan Origination System and ensure work product produced is without errors and contains correct grammatical structure.
- Assist management in upholding and improving credit quality, production and Member service.
- Cleary communicate directly both verbally and in writing with Members, branches and employees. Effectively partner with branches and management to maintain positive relationships.
- Assist in underwriting loans included in pool purchases/sales as assigned by management.
- Resolve any Post Closing issues as needed to fix loan files and/or have them purchased by Fannie Mae, Freddie Mae, CALHFA or FHLB.
- Complete other duties as assigned by management.
Physical Requirements: (Including lifting, sitting, walking, bending, reaching and squatting % of time in each function)The workstation consists of an indoor cubical. A workday consists of sitting 75% of the time with standing 10% of the time and walking 15% of the time. The job also has some of the following for a total of no more than 1 hour each day: bending, reaching, kneeling, squatting and lifting 25 pounds or less.
Minimum Requirements:- High school diploma or equivalent, with AA or BS preferred.
- 5 plus years' experience of conventional mortgage underwriting to include portfolio, GSE and Jumbo Investor products. Retail environment is preferred.
- Expertise in interpreting underwriting guidelines, analyzing risk and communicating with Members and employees on loan level decisions.
- Strong tax return analysis skills and appraisal knowledge.
- Self-starter with solid time management and organizational skills.
- Ability to communicate clearly and effectively, both verbally and in writing, across a variety of audiences.
- Strong interpersonal skills.
- Ability to solve a variety of problems and deal with complex scenarios by using common sense and practical applications.
- Ability to work accurately and efficiently in a face-paced environment.
- Superior computer skills, including proficiency with Microsoft Office Suite.
- Experience and detailed understanding of FNMA's DU and FHLMC's LP systems.
