Mortgage Underwriting Specialist

2 weeks ago

Dobbs Ferry, New York, United States Quorum Full time
About Quorum

Quorum Federal Credit Union stands as a national leader in fostering a workplace that attracts, nurtures, and retains exceptional talent to propel the organization forward. We prioritize a human-centered approach, ensuring a rewarding work experience for all employees.

Position Overview

The Contract Mortgage Underwriter plays a pivotal role in evaluating all first and second mortgage applications within the assigned approval limits. This position entails a thorough review of creditworthiness, collateral, income, and assets, ensuring that sound lending decisions are made to uphold the principles of repayment capability and intent. The Contract Mortgage Underwriter will report directly to the Mortgage Underwriting Team Lead.

Key Responsibilities

  1. Guarantee that all mortgage loan files are assessed (within authority limits) in alignment with secondary market standards, specific program protocols, credit union policies, and regulatory mandates.
  2. Leverage extensive knowledge and expertise to evaluate risks associated with first mortgages, self-employment income, and renovation financing.
  3. Analyze the accuracy of the information provided for each loan file and make informed credit decisions within the established guidelines. This includes reviewing financial documents such as tax returns, bank statements, and credit reports to determine loan eligibility and repayment capacity accurately.
  4. Continuously monitor the daily mortgage pipeline to identify areas needing intervention to expedite the mortgage process and take appropriate action.
  5. Assist management with tasks related to audit preparation, sales readiness, HMDA reporting, and other related activities.
  6. Work independently while adhering to management guidelines, providing support and mentorship to junior underwriters as necessary, sharing insights and best practices to enhance team effectiveness.
  7. Collaborate with management and staff by demonstrating proactive planning and seeking process enhancements to automate and streamline operations while maintaining necessary controls.
  8. Foster a positive work environment by communicating professionally with members, colleagues, management, partners, and vendors.
  9. Stay informed about industry trends, including changes in regulations, market conditions, and technological advancements.
  10. Ensure compliance with company policies and procedures as well as Banking/Credit Union Regulations.
  11. Perform additional responsibilities as required.
Qualifications and Skills
  • A Bachelor's degree in finance, business administration, or a related field is preferred.
  • A minimum of seven years of extensive mortgage underwriting experience at a credit union, bank, or other financial institution is essential. This experience must include the ability to assess risks related to first mortgages and self-employment income, as well as reviewing financial documents to determine loan eligibility and repayment capacity accurately.
  • Exceptional problem-solving, organizational, analytical, verbal, and written communication skills.
  • Strong decision-making and time management abilities with the capacity to handle multiple projects and responsibilities.
  • Results-oriented, service-driven, self-motivated, and capable of working independently.
  • In-depth knowledge of secondary market guidelines and familiarity with regulatory standards.
  • Comply with all requirements for Mortgage Loan Originators as outlined in the SAFE Act, including successful completion of required background checks and obtaining a Unique Identifier from the NMLRS.
  • Demonstrate trustworthiness and maintain the highest level of integrity.
  • Proficient in Microsoft Office, particularly Word, Excel, and PowerPoint, with related experience in Encompass loan origination systems.
Work Environment Requirements
  • A stable internet connection with sufficient speed for video conferencing and screen sharing.
  • A smartphone with the latest iOS/Android operating system.
  • Ability to sit for extended periods at a workstation and work on a computer.
  • Effective communication with colleagues and clients via email, chat, teleconference, and/or phone.
Compliance and Legal Considerations
  • 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 provide reasonable accommodations in compliance with the Americans with Disabilities Act of 1990. 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 applicable fair chance ordinances.
Note

This job description does not create an employment contract, implied or otherwise, other than an "at-will" relationship. Each employee and contractor is required to uphold the Credit Union's compliance with all policies, procedures, and required regulations.

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