First Heritage Mortgage Services is a full-service mortgage banking company with over 15 years of experience in Mortgage origination, processing and servicing. Our experienced mortgage professionals demonstrate exemplary service levels and operate under the credit union philosophy of 'people helping people'.
First Heritage Mortgage Services is seeking an experienced Mortgage Underwriter. This position is responsible for interviewing applicants for loans and processing various loan applications. Gathers background information and analyzes loan applicant's credit history. Approves or denies loan applications based on analysis.
- All new loans to be reviewed within 48 hours of the loan being assigned.
- Evaluate real estate appraisal to ensure proper guidelines are followed and final value is properly determined. Property Appraisal Review includes Conventional; subject property address, current owner name, neighborhood, site characteristics, flood zone, property zoning, improvements, sales comparable approach, market condition analysis, property sketch, location map, repair requirements, reconciliation of value, and verbal communication with the appraiser to request additional information for clarification.
- Calculate debt-to-income ratios on loan applicants.
- Review all Marital/Separation Agreements, Divorce Decree, Child Support or Alimony documentation, Equitable Distributions and Installment land contracts
- Underwriter to direct which company to be utilized on every loan requiring Private Mortgage Insurance.
- Prepare the loan approval for all loans prior to submitting file to processing.
- Review and determine all required disclosures are in every file.
- Review credit reports to determine all accounts are present on the loan application and make corrections in byte, then submit back through Automated Underwriting System (AUS) for updated finding.
- Review and analyze paystubs, W-2's, personal or business tax returns and request any additional documentation required to determine the income. Make necessary changes in system then submit back through Automated Underwriting System for updated finding.
- Explain reasons for denial and explore options for members when loans are denied.
- Remain current and knowledgeable of all aspects of local, state and federal regulations that affect the credit union.
- All Appraisals to be submitted through the appropriate appraisal agency web Portal, i.e. Uniform Collateral Data Portal for conventional loans
- Federal National Mortgage Association Collateral Underwriter to be utilized on all appraisals where there is an elevated risk score.
- All loans to be underwritten to adhere to the appropriate agency guidelines and requirements.
- Federal National Mortgage Association Early Check to be completed on all files at final approval and prior to disbursements.
- All Condominium to be submitted to Federal National Mortgage Association Condo Project Manager for approval
- Advanced knowledge of current Federal National Mortgage Association and PMI Guidelines
- Respond to Internal and External Quality Control Audits.
- Determine correct loan level price adjustments on Conventional Loans
- Assist with the review of loan files to determine if the loan can be approved or if additional documentation is required to render a decision.
- At least five years of experience in mortgage lending.
- Work requires knowledge of mortgage loan policy; credit granting criteria, interest rates and how they are computed, and required documentation for mortgage loans. Extensive knowledge of real estate sales and regulations, appraisal guidelines and financial statements.
- Considerable judgment is required. Must analyzed complicated factual situations, apply functional principles and develop solutions.
- Professional, well-developed interpersonal skills essential for servicing loan applicants and staff while projecting a positive image as a representative of the Credit Union.
- Work requires basic knowledge of Word and Excel and a mortgage software system. Previous office experience in the Mortgage industry preferred.
Our commitment to your success is enhanced by our competitive salary commensurate with experience and an extensive benefits package including paid time off, health benefits, 401(k) with a generous company match, and future growth opportunities within the company. We work to maintain the best possible professional and environmentally friendly atmosphere for our employees.
To be considered for the Mortgage Underwriting position, correspondence should include a resume listing job history and salary expectations. Please be advised that credit, criminal, employment, drug/alcohol testing and education background checks are conducted on potential candidates. All resumes will be reviewed, but only competitive candidates will be contacted for further conversation.