Senior Mortgage Underwriter

General Job Description

This position is responsible for the oversight and underwriting of complex and high-value mortgage loans, ensuring compliance with company policies, regulatory agencies, and secondary market investor guidelines. The Senior Mortgage Underwriter will work closely with the Mortgage Origination team to mentor others, provide expert guidance, and ensure the accurate and timely processing of loan applications. This role upholds the culture and mission statement of the credit union, playing a critical role in managing portfolio risk and maintaining the integrity of the credit union's lending practices.

Essential Duties & Responsibilities
? Review and analyze high-value and intricate mortgage loan applications, including jumbo loans, construction loans, and loans for self-employed borrowers with non-traditional income sources.
? Lead the risk assessment process for high-profile and intricate loan scenarios, ensuring comprehensive evaluation and prudent decision-making.
? Provide guidance, training, and mentorship to junior underwriters, promoting a culture of continuous improvement and knowledge sharing within the team.
? Ensure all underwriting activities adhere to federal and state regulations, secondary market guidelines, and the credit union's lending policies. Contribute to the development and refinement of these policies as needed.
? Perform detailed reviews of appraisals for one-to-four family residential properties, verifying title ownership and ensuring compliance with investor requirements. Ensure all mortgage liens are properly addressed.
? Collaborate with the VP of Mortgage and Director of Mortgage to evaluate and update product guidelines to ensure compliance with Real Estate Lending Policy and Investor guidelines.
? Approve, suspend, or deny mortgage loan applications, with authority to make exceptions or escalate decisions on complex cases. Conduct quality control reviews to ensure consistency and accuracy across the team.
? Work closely with the Mortgage Origination team, Compliance Department, and other stakeholders to address any deficiencies found during audits or reviews, ensuring all loans are closed properly according to policy.
? Monitor and manage the risk of the credit union's mortgage portfolio, ensuring loan quality and performance remain within acceptable levels.
? Stay at the forefront of industry trends, regulatory changes, and advancements in underwriting technology to drive continuous improvement within the team.
? Contributes to special projects and initiatives that grow MCCU Mortgage.
? Cross train in other positions such as Processing and Closing. Provide coverage in these areas as needed.
? Foster and maintain positive relationships with both co-workers and members by actively embracing and demonstrating MCCU's culture, known as IMPACT.

Essential Job Requirements
? Minimum of ten years of mortgage underwriting experience, including FNMA and FHLMC guidelines, with a strong focus on complex loan scenarios. Leadership or mentoring experience required.
? Proficient in mortgage underwriting software and automated underwriting systems (AUS). Knowledge of Calyx and Encompass is a plus.
? In-depth knowledge of conventional investors, private mortgage insurers, and secondary market guidelines. Familiarity with MI guidelines and their impact on loan approvals.

Skills/Abilities
? Strong oral and written communication skills, with the ability to provide clear guidance and feedback.
? Exceptional organizational and planning skills, with the ability to manage multiple tasks in a fast-paced environment.
? Professional office appearance and demeanor, providing friendly, prompt, and accurate services to all members and associates.
? Ability to work evenings and weekends if needed and maintain a dependable record of attendance and timeliness.

Physical/Mental Requirements of the Position:

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
? While performing the duties of the job, the employee is regularly required to stand, sit, use hands, reach with hands and arms, and talk or hear. Ability to move and/or lift 10 pounds.
? Close vision and ability to adjust focus.
? The mental demands include detailed work, reasoning, math, language, written and verbal communications, and the ability to manage multiple concurrent tasks.

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