Mortgage Underwriter II
Unity Bank
- Clinton, NJ
- Permanent
- Full-time
- Underwrite and approve Residential Mortgage loans, Construction loans, and Consumer loans and evaluate credit risk
- Conduct loan-level due diligence and ensure each loan conforms to bank underwriting and/or investor guidelines.
- Manage a pipeline of loans submitted for closing
- Interact with other areas of the bank, including processing, sales, and the closing / funding teams, as well as servicing and secondary sales teams.
- Perform a thorough review and analysis of all loan applicants in rendering a sound credit decision on all loans to ensure the Bank's ability to sell the loan on the secondary market or retain as a performing asset in its portfolio
- Review and analyze credit, income, assets and collateral to ensure compliance FNMA, investor or Bank portfolio guidelines
- Collaborate with team members and Management to identify or recommend potential solutions/exceptions for non-sellable or denied loan files
- Examine all loan documentation to ensure accuracy and compliance with all state and federal policies and regulations
- Communicate with mortgage sales, operations and branches to maintain a high level of customer service
- Serve as a leader/trainer/mentor to processors and less experienced Operations staff
- Maintain a high level of efficiency to ensure excellent turnaround times
- Maintain current knowledge of all industry and bank program changes, policies and procedures
- Communicates with Management on a loan by loan basis in recommending exceptions to policy
- Assist with loan delivery and servicing in resolving any port-closing/delivery issues with FNMA or investor
- Assist Loan Officers by reviewing loan scenarios to ensure loan is placed in correct program
- BA/BS
- 7 years conventional underwriting experience required
- FHA processing or underwriting experience a plus
- Ability to analyze title reports, tax returns and appraisals is required
- Detailed knowledge of FNMA/FHLMC guidelines is required
- Extensive knowledge of Automated Underwriting Systems LP/DU is required
- Excellent communication skills, both written and verbal, are required
- Excellent proficiency with MS Word Suite
- Ability, familiarity and competence to perform all aspects of a loan transaction, from opening through closing
- Ability to analyze credit, income, assets, appraisals
- Ability to calculate figures and amounts
- Ability to read, analyze and interpret legal documents, government regulations and professional publications
- Ability to effectively present information and respond to inquiries from Senior Management, attorneys, vendors, government agents and the general public
- Ability to create and generate reports
- Ability to work independently with little supervision
- Ability to sit for long periods of time.
- Ability to lift boxes, up to 30 pounds.
- Moderate sound as in business office with office machines, computers, and people traffic.
- It is the responsibility of each bank staff member and of management to adhere to policies and procedures designed to implement compliance with the laws and regulations to which the bank is subject. Each bank staff and management member shall be accountable for understanding how compliance with laws and regulations affects the performance of their day-to-day duties, for completing compliance training as assigned and for carrying out those duties in a manner to achieve compliance with those laws and regulations.