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Mortgage Underwriter

Teachers Credit Union South Bend Full-Time
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Mortgage Underwriter


We are searching for an experienced Mortgage Underwriter. 
South Bend, Indiana 46601

Essential Function

Reviews all documentation in the mortgage files to make credit decisions according to the mortgage program, investor and TCU underwriting guidelines. 

Primary Responsibilities & Duties

  1. Responsible to selectively review Mortgage Loan Originators files prior to submitting their files to File Setup. Level I Underwriters will review the loan submission for completeness of the application; ensure the MLO is meeting timely submissions; review accuracy of income and asset calculations; ensure proper disclosure timelines, ensure DU approvals, etc.

  2. Responsible to act as the Underwriting Help Desk for the Mortgage Sales Team on loan structuring and loan scenarios.  

  3. Clear conditions as needed for other underwriters.

  4. Responsible for updating the mortgage file as needed.

  5. Responsible for making credit decisions and producing approval letter with all the necessary conditions, the counteroffer letter, or an adverse action letter. Must be signed off by a Level II or DE Underwriter.

  6. Responsible for notifying Originators of loan decisions with an explanation of any modifications or reasons for denial.

  7. Responsible for satisfaction of all underwriting conditions necessary to close mortgage loans.

  8. Responsible for reviewing and underwriting appraisals and for communication with the appraisal management company.

  9. Responsible for reviewing title work.

  10. Coordinates the execution of any second mortgages, bridge loans, or subordinations that will be required.

  11. Responsible for verifying the accuracy of the mortgage loan terms, the loan amount, and product type before sending to the closing.

  12. Responsible for addressing any rate locks that have expired or are about to expire with the Processor or Originator.  Re-underwrites the loan if there is a rate change. 

  13. Responsible for submitting loan packages to MI companies for approval.

  14. Responsible for performing second look audits on denied loans.

  15. Performs additional duties as directed by Mortgage Operations Manager.

  16. Assumes additional responsibilities as necessary for the continued growth and advancement of the Credit Union.

    Specific Skills

  • Ability to communicate effectively in person, over the telephone and through written correspondence.

  • Ability to analyze complex mortgage documentation.

  • Thorough knowledge of secondary market guidelines and procedures and residential mortgage lending.

  • Demonstrated knowledge of current residential mortgage regulations and compliance.

  • Computer literacy, data processing knowledge (Windows environment). Data entry skills required.

  • Demonstrated knowledge of credit products and mortgage policies and procedures.

  • Demonstrated ability to make sound mortgage loan decisions and obtain proper documentation.

Accountability

  • Responsible for the accurate presentation, analysis, and underwriting of residential mortgage loans within targeted time frames

  • Responsible for meeting service commitments for approving and closing mortgage loans

  • Accountable for all mortgage lending decisions and proper documentation of loans

  • Accountable for Performance Management Goals as agreed upon with Supervisor.

  • Accountable for understanding and applying government laws and regulations and TCU policies and procedures relating to the Anti-Money Laundering Regulations including by not limited to the Bank Secrecy Act (BSA), US PATRIOT ACT and OFAC.


Minimum Requirement

  • High School Diploma (GED) or equivalent skills and abilities.

  • Minimum three years’ experience in residential mortgage processing.

  • Experience in residential mortgage underwriting preferred



Non-Exempt

Hourly Wage

19.11 - 28.67

Our company provides equal employment opportunities (EEO) to all employees and applicants for employment without regard to race, color, religion, sex, national origin, age, disability or genetics.

 

Recommended skills

Underwriting
Loans
Mortgage Loans
Appraisals
Credit Products
Bank Secrecy Act

Location

About the company

CareerBuilder Estimated Salary

Based on Job Title, Location and Skills
$72K
Below Avg. Average Above Avg.
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