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Real Estate Underwriter II (American Eagle Financial Credit Union)
Ref No.: 16-07121
Location: East Hartford, Connecticut
BASIC FUNCTION: Analyzes risk of real estate loans based on credit and property documentation; Ensures loans approved are fully documented and in compliance with investor criteria, state/federal regulations, NCUA regulations and Credit Union lending guidelines/policies. Approves, counter offers or denies real estate loans based on a thorough assessment of risk, including, but not limited to credit history, income and collateral. Assists Manager, Real Estate Production in training and mentoring new underwriters and suggest additional training when necessary.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
• Analyzes complex financial statements to determine if minimum loan criteria established by the Credit Union and investor are met. Determines alternatives for restructuring loans to meet Credit Union lending and investor criteria. Ensures compliance with Credit Union policies, state, federal, investor and NCUA regulations.
• Determines acceptability of collateral for mortgage loans by reviewing appraisals, valuations and property condition reports to ensure collateral is sufficient for loan request. Escalates member disputes and works with appraisers for acceptable resolution.
• Summarizes the contents of the mortgage file and approves, counter offers or denies the loans, up to maximum lending authority as established by policy or procedure.
• Provides dual signatures for mortgage loans that exceed lending limits for Underwriter I.
• Prepares commitment letter with conditions that must be satisfied prior to or at closing.
• Manages all communication with borrowers throughout the underwriting process.
• Assists manager with training, coaching and developing mortgage underwriting staff. May also suggest additional training when necessary.
• Works closely with processing and mortgage origination teams to answer loan questions, clarify conditions or documentation requested, and resolve any issues that may arise.
• Reviews, interprets, and underwrites FHA and VA loans as it relates to internal and investor guidelines.
• Monitors pipeline to ensure loan decisions meet or exceed established production goals and quality standards. Works with manager to determine when adjustments are needed during periods of high volume.
• Reviews and interprets AUS findings to determine borrower's ability to repay has been evaluated and documented.
• Delivers adverse credit decisions to members in a professional manner and ensures adverse action/change letters comply with federal guidelines.
• Continually exhibits an understanding of changes in the industry as well as with investors and agency update. Recommends changes to procedure manual according to current trends to help maximize efficiency in the department.
• Prioritizes daily work to ensure underwriting turn times are met.
• Recommends and cross sells other lending products to members when appropriate.
• Performs related duties as assigned.
SUPERVISORY RESPONSIBILITIES:
None.
EDUCATION and/or EXPERIENCE:
Bachelor's degree and five to seven years related experience and/or training; or equivalent combination of education and experience.

ControlID: 14.234.89 SHR