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Senior Mortgage Underwriter is responsible for underwriting mortgage loans, including government loans to determine acceptability with Westerra Credit Union and secondary market standards set by the investors to ensure saleability and sound credit quality while adhering to the Federal, State and Agency requirements.
Underwrite conventional (conforming and non-conforming) FHA, VA residential mortgage loans per product and investor guidelines through AUS and/or manual underwriting.
Ensures loans are in compliance with investor requirements, federal and state laws and regulations.
Complete understanding of investor guidelines and ability to run and interpret AUS findings (DU)
Performs risk assessment of credit and collateral ensuring loan saleability and sound credit quality.
Responds to and resolved any post-closing issues to ensure loan saleability.
Adhere to weekly production and turn times of files
Assist management to clear conditions and expedited loan closings.
Keep informed of current practices in loan underwriting.
Take initiative to keep current on changes in investor and Westerra Credit Union guidelines.
Adhere to applicable compliance/operational risk controls in accordance with Company or regulatory standards and policies.
Promote an environment that supports diversity and reflects the Westerra Credit Union brand.
Works with internal staff (Loan Officers, Processors and Closers) and third parties to expedite the decision process and loan closings for mortgage loans submitted for approval.
Maintain Westerra Credit Union internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators as applicable.
Responsible for meeting and maintaining registration requirements under the Federal SAFE Act.
Other duties as needed or assigned
Consistently demonstrates the Westerra Way Experience and complies with all policies and regulations
Position Titles That Report To This Positions: Number of Positions
Education Experience and Certification:
Associate's degree, or in lieu of a degree, 4 years mortgage underwriting experience, and Direct Endorsement (DE) and LAPP approval.
Full knowledge of credit risk
Understanding of appraisals.
Thorough knowledge of DU/LP valuations (automated underwriting).
Knowledge of applicable industry tools to ensure saleability.
Strong verbal and written communication skills with ability to interact with all levels.
Thorough knowledge of conforming and non-conforming guidelines.
Understanding of risk assessment of both credit and collateral process and the impact to the saleabilty of individual loans.
Demonstrated ability to multi-task and work well under pressures.
Proven ability to interpret underwriting guidelines.
Skills and Abilities:
Strong analytical skills
Excellent communication skills both verbal and written
Member service skills and the ability to provide outstanding customer service in a fast paced environment
Basic math and computer skills
Self-starter with good organizational skills
Detail and results oriented
Ability to collaborate well with others in a team setting
Working Environment/Physical Requirements:
Works primarily at desk
Note: This description is not intended to be an exhaustive list of all duties, responsibilities or qualifications associated with the position.
ControlID: 14.234.89 SHR
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