Credit Union, Government Policies, Government Standards, Loan Conditions, Loan Documents, Loan Processing, Loan Review, Loan Underwriting, Loans, Mortgage, Mortgage Lending, Secondary Markets, Team Player, Underwriting
Summary
Reporting to the Mortgage Lending Manager, this full-time, exempt salaried role approves or denies mortgage loans following Credit Union policies and secondary market underwriting guidelines. The Mortgage Loan Underwriter reviews 1st and 2nd Mortgage files as well as reviews applications for Visa cards, and regularly researches mortgage rates.
Essential Functions & Responsibilities
- Reviews and evaluates information on mortgage loan documents to determine if borrower, property, and loan conditions meet Credit Union policies, government standards and taking into consideration secondary market requirements.
- Approves or rejects loan applications or requests additional information. Reviews files for accuracy and completion.
- Records loan rejection, specifying Credit Union guidelines and basis for declining application.
- Assign new loans to branches and processors.
- Cooperate and work together as a team with co-workers, maintain a neat work area, and perform other duties as assigned by supervisors.
- Practice confidentiality where indicated in employee matters and Credit Union operations.
- Reviews and signs off on mortgage releases.
- Informs loan officer and processor of loan decision.
Qualifications and Certifications
- Associates degree required.
- 3 to 5 years of similar or related experience.
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L&N Federal Credit Union