Job Description

Review and underwrite mortgage loans. Identify, analyze, and evaluate loan risks and compensating factors, and ensure the marketability of closed loans and the safety of Credit Union assets. Approve, suspend, or deny loan applications. Ensure that loans are approved within the terms of the Credit Union's standards and procedures, regulatory underwriting guidelines, and other secondary market requirements. Provide support to Mortgage Loan Department staff.

Specific duties include but are not limited to:

• Review and evaluate residential loan files for accuracy, completeness and compliance with all Federal and State regulations and SESLOC underwriting standards and guidelines.
• Determine the credit worthiness of members and complete related documentation and reports.
• Ensure SESLOC has accurate and proper documentation in every loan file. Analyze all information provided in the loan files.
• Evaluate mortgage files for sale on the secondary market.
• Ensure all lending conditions have been satisfactorily met prior to closing. Ensure the marketability of closed loans and the safety of Credit Union assets.
• Notify loan officer of any information that does not match borrower stated information or creates a lending risk to SESLOC.
• Maintain up-to-date knowledge of changing regulations and trends in the real estate industry to ensure SESLOC's compliance.
• Act as the liaison with secondary market vendors; prepare and submit loan files for automated underwriting and approval; coordinate delivery of files and any required documentation; maintain vendor relations.
• Review condominium and planned unit development project information for approval; evaluate lending risk to SESLOC and discuss with manager; issue approval.
• Review appraiser qualifications and experience for inclusion on SESLOC's list of appraisers; maintain good working relations with appraisers.
• Review all appraisal reports for compliance, accuracy, and conformity to USPAP; ensure risks are appropriate and values are well documented. Set conditions for inspections if repairs are needed.
• On occasion as needed, perform loan processing and/or servicing duties to assure departmental success.

EDUCATION/EXPERIENCE: A two-year college degree or completion of a specialized course of study at a business or trade school. Two (2) to five (5) years' mortgage loan underwriting performing credit analysis or related experience, including time spent in preparatory positions. FNMA underwriting experience required. Financial institution or Credit Union experience preferred. Demonstrated and strong knowledge of loan underwriting principles. Possess a strong knowledge base of regulations as they relate to mortgage loan underwriting. Possess a solid understanding of loan underwriting principles to support loan decisions. Must be capable of regular, reliable and timely attendance. Credit Union or financial institution experience preferred.

SESLOC has a collegial work environment with a keen focus on training and development. In addition we offer competitive compensation and excellent benefits including fully paid employee health, dental and vision; vacation, sick, holiday time off; and a 401k with generous employer match.

EOE

JOB POSTED BY APPLICANTPRO