Contract Mortgage Underwriter

1 month ago

Dobbs Ferry, United States Quorum Full time
Who is Quorum

Quorum Federal Credit Union is a national employer of choice that attracts, develops, enables, and retains the right resources to drive the organization forward. We are a human-centered organization that delivers a positive work journey.

Job Description Summary

A Contract Mortgage Underwriter is responsible for underwriting all first and second mortgages within the allocated approval authority. The Contract Mortgage Underwriter reviews the credit, collateral, income, and assets as well as conveying accurate lending decisions to ensure the ability and intent to repay is maintained. The Contract Mortgage Underwriter will report to the Mortgage Underwriting Team Lead.

Key Job Responsibilities and Accountabilities

  1. Assures that all mortgage loan files are underwritten (within level of authority) in compliance with secondary market guidelines, specific program guidelines, credit union policies, and regulatory requirements.
  2. Utilize comprehensive knowledge and expertise to assess risks associated with first mortgages, self-employment income and renovation loans.
  3. Evaluate and analyze the integrity of the data provided for each loan file and make sound credit decisions within the designated guidelines. Review financial documents, including tax returns, bank statements and credit reports to accurately determine loan eligibility and repayment capacity.
  4. Consistently monitors the daily mortgage pipeline to identify areas that require intervention to expedite the mortgage process and acts accordingly.
  5. Supports and fulfills Management requests related to audit preparation, sale preparation, HMDA reporting and more.
  6. Ability to work independently following required guidance provided by management, while also supporting management and providing guidance and support to junior underwriters as needed, sharing insights and best practices to enhance team performance.
  7. Actively works with management and staff by demonstrating daily proactive planning and seeking process improvements to automate and streamline operations while maintaining adequate controls.
  8. Promotes and maintains a positive work atmosphere by communicating in a manner consistent with professional standards to work effectively with members, co-workers, management, partners and vendors.
  9. Keeps abreast of industry developments including, but not limited to changes in regulations, market conditions, current disaster locations and technology.
  10. Ensures adherence to company policies and procedures and Banking/Credit Union Regulations.
  11. Performs additional duties as required.


Job Requirements, Competencies, and Skills

  • Bachelor's degree in finance, business administration or other related degree preferred.
  • Minimum of seven years of comprehensive mortgage underwriting experience at a credit union, bank, or other financial institution is required. This must include the ability to assess risks associated with first mortgages and self-employment income, as well as the ability to review financial documents including: tax returns; bank statements; and credit reports to accurately determine loan eligibility and repayment capacity.
  • Excellent problem-solving, organizational, analytical, verbal, and written communication skills.
  • Strong decision making and time management skills with the ability to manage multiple projects/duties.
  • Results driven, service oriented, self-motivated and able to work independently.
  • Detailed knowledge of secondary market guidelines. Some knowledge of regulatory guidelines and issues.
  • Complies with all requirements for Mortgage Loan Originators set forth in the SAFE Act, including, but not limited to successful completion of the required background checks and obtaining a Unique Identifier from the NMLRS.
  • Trustworthy with the ability to maintain highest level of integrity and trust.
  • Proficiency in Microsoft Office, specifically Word, Excel, and PowerPoint. Related experience with Encompass loan origination systems.
Environmental / Physical / Mental Requirements
  • Stable internet connection with speeds high enough for video conferencing and screen sharing
  • Smartphone with current iOS/Android OS
  • Prolonged periods sitting at a workstation and working on a computer
  • Ability to communicate with coworkers and customers via email, chat, teleconference, and/or phone
Compliance/legal requirements
  • Quorum is an Equal Employment Opportunity and Affirmative Action Employer.Qualified applicants will be considered for employment without regard to race, color, religion, gender, sexual orientation, national origin, age, marital status, protected veteran status, or disability status.
  • Quorum will make reasonable accommodations in compliance with the Americans with Disabilities Act of 1990. Reasonable accommodations are available upon request for qualified individuals with disabilities throughout the application and employment process.
  • Qualified Applicants with arrest or Conviction records will be considered for employment in accordance with the Los Angeles County Fair Chance Ordinance for Employers and the California Fair Chance Act.


This job description in no way states or implies that these are the only duties to be performed by the contractors(s) incumbent in this position. Contractor(s) will be required to follow any other job-related instructions and to perform any other job-related duties requested by any person authorized to give instructions or assignments.The company reserves the sole right and discretion to make changes to this job description.

Each employee and contractor is required to uphold the Credit Union's compliance with all policies, procedures, and required regulations including the Bank Secrecy Act and our Anti-Money Laundering policy.

This document does not create an employment contract, implied or otherwise, other than an "at-will" relationship.

*PLEASE NOTE*

We are not able to consider candidates for this contract role who reside in Montana, Nebraska, Rhode Island or Puerto Rico.

Hourly wage range:$36.00 to $40.87 paid hourly through our contracted partner, Brooke St. Staffing.

This is a temporary, contract (up to 6 months), non-employee role and is not eligible for Quorum health, retirement, or discretionary incentive benefits. Conversion to full-time employment is not guaranteed.

#LI-Remote

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities

The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor's legal duty to furnish information. 41 CFR 60-1.35(c)

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