What are the responsibilities and job description for the Residential Loan Underwriter position at Hanscom Federal Credit Union?
Job Details
Description
It’s an exciting time to be at Hanscom Federal Credit Union!
As a member of our Residential Lending Department, you will join a dynamic team of purpose-driven individuals committed to delivering exceptional service to our members.
Who We Are – Hanscom Federal Credit Union
$32.30/hr - $40.38/hr
Compensation for this position will be determined based on the candidate's experience, skills, and qualifications. Final pay may vary depending on factors such as prior experience, expertise, and specific requirements of the role. We are committed to offering competitive compensation and will discuss the final pay rate with candidates should an offer be made.
You are a dynamic, detail oriented, intuitive person with the ability to develop relationships, build rapport and become a trusted team member. You are able to provide everyone you assist or support with a high level of service, have strong organization and multi-tasking skills, and are searching for a rewarding career where you are valued and respected.
What You'll Do
Is able to bend, sit, and stand in order to perform primarily sedentary work with limited physical exertion and occasional lifting of up to 10 lbs. Must be capable of climbing / descending stairs in an emergency situation. Must be able to operate routine office equipment including computer terminals and keyboards, telephones, copiers, facsimiles, and calculators. Must be able to routinely perform work on computer for an average of 6-8 hours per day, when necessary. Must be able to work extended hours or travel off site whenever required or requested by management. Must be capable of regular, reliable and timely attendance.
WORKING CONDITIONS
Must be able to routinely perform work indoors in climate-controlled shared work area with minimal noise.
Mental And/Or Emotional Requirements
Must be able to perform job functions independently or with limited supervision and work effectively either on own or as part of a team. Must be able to read and carry out various written instructions and follow oral instructions. Must be able to complete basic mathematical calculations, spell accurately, and understand computer basics. Must be able to speak clearly and deliver information in a logical and understandable sequence. Must be capable of dealing calmly and professionally with numerous different personalities from diverse cultures at various levels within and outside of the organization and demonstrate highest levels of customer service and discretion when dealing with the public. Must be able to perform responsibilities with composure under the stress of deadlines / requirements for extreme accuracy and quality and/or fast pace. Must be able to effectively handle multiple, simultaneous, and changing priorities. Must be capable of exercising highest level of discretion on both internal and external confidential matters.
Description
It’s an exciting time to be at Hanscom Federal Credit Union!
As a member of our Residential Lending Department, you will join a dynamic team of purpose-driven individuals committed to delivering exceptional service to our members.
Who We Are – Hanscom Federal Credit Union
- Members-first – our members are our top priority. We make business decisions with our members at the top of mind.
- Integrity – we’re honest and committed to doing what’s best for our members and our company. What is right isn’t the same as what is easy.
- Teamwork – we are in this together and we all benefit from our success.
- Innovation – we identify new ideas for processes or products that will lead to positive changes and take the initiative to implement the changes.
- Empathy – we understand that communication starts by listening, understanding diverse perspectives, and caring about others’ sustained success.
$32.30/hr - $40.38/hr
Compensation for this position will be determined based on the candidate's experience, skills, and qualifications. Final pay may vary depending on factors such as prior experience, expertise, and specific requirements of the role. We are committed to offering competitive compensation and will discuss the final pay rate with candidates should an offer be made.
- A full-time, permanent position that will reward you through an annual bonus program.
- Medical, Dental, Vision, FSA, 401(k), Student Loan Paydown, and paid Sick and Vacation time benefits.
- A flexible hybrid work schedule environment.
- We are committed to fostering career growth and development – when you join our organization it’s not just a job.
- We look to develop your skills aligned to our business needs and help you progress in your career.
You are a dynamic, detail oriented, intuitive person with the ability to develop relationships, build rapport and become a trusted team member. You are able to provide everyone you assist or support with a high level of service, have strong organization and multi-tasking skills, and are searching for a rewarding career where you are valued and respected.
What You'll Do
- Represent the credit union in a professional manner; provides quality service to members, internal customers, and maintains turnaround times in accordance with department standards.
- Perform a complete in-depth review of mortgage loan files, including calculating income, analyzing debt and assets and credit profile.
- Approve, deny, withdraw or issue counter offers on residential loan applications within delegated authority and in accordance with Credit Union policies and procedures. Evaluate and present all appropriate counter-offer options to ensure applicants are fully informed and that fair lending principles are consistently applied.
- Update loan operating system to ensure accurate data entry
- Responsible for detailed review and sign off on all appraisals, ability to recognize red flags and ineligible properties
- Resolve pre- and post-closing issues as they relate to underwriting. Responsible for the inputting, accuracy and completeness of loan data used for HMDA reporting.
- Evaluate and ensure overall documents are accurate, complete and compliant.
- Adept with MortgageBot LOS and POS, XP2 Core System, Fannie Mae Desktop (DU) underwriting system, and any other systems or applications required.
- Assist processors and loan officers in understanding and collecting conditions that are required to make a decision and clear loan to close.
- Evaluate and verify the accuracy of the loan product and pricing for each loan.
- Proficient in underwriting self-employed borrowers and completing a cash flow analysis form.
- Proficient in underwriting rental income and completing rental income worksheets.
- Analyze condominium projects to ensure Fannie Mae requirements are met for possible sale on the secondary market.
- Prioritize and monitor daily workflow to ensure all loans are being worked on in accordance with company and regulation timeline expectations
- Report all problems or adverse situations to the Residential Underwriting Manager as they arise and handle accordingly as instructed.
- Maintain knowledge of compliance laws applicable to residential loan originations including Equal Credit Opportunity Act (ECOA), Real Estate Settlement Procedures Act (RESPA), Regulation Z (Truth-in-Lending), Regulation C (HMDA), Fair Credit Reporting Act and other state and federal laws which may be applicable.
- Assume additional responsibilities as requested.
- Must become registered as a Hanscom Federal Credit Union Mortgage Loan Originator (MLO) with the National Mortgage Licensing System (NMLS).
- Must have strong organizational, analytical and customer service skills.
- Must have good verbal and written communication skills.
- 3 - 5 years of Residential Loan Underwriting experience.
- High School diploma required.
- Knowledge of Fannie Mae’s policy on processing, underwriting, and servicing mortgages.
- Knowledge of real estate lending regulatory compliance.
- Familiarity with standard concepts, practices, and procedures within the residential loan industry.
- Ability to work independently in a fast-paced environment.
- Knowledge of HMDA reporting requirements.
- Residential Lending computer skills.
- VA Experience
- FHA preferred
Is able to bend, sit, and stand in order to perform primarily sedentary work with limited physical exertion and occasional lifting of up to 10 lbs. Must be capable of climbing / descending stairs in an emergency situation. Must be able to operate routine office equipment including computer terminals and keyboards, telephones, copiers, facsimiles, and calculators. Must be able to routinely perform work on computer for an average of 6-8 hours per day, when necessary. Must be able to work extended hours or travel off site whenever required or requested by management. Must be capable of regular, reliable and timely attendance.
WORKING CONDITIONS
Must be able to routinely perform work indoors in climate-controlled shared work area with minimal noise.
Mental And/Or Emotional Requirements
Must be able to perform job functions independently or with limited supervision and work effectively either on own or as part of a team. Must be able to read and carry out various written instructions and follow oral instructions. Must be able to complete basic mathematical calculations, spell accurately, and understand computer basics. Must be able to speak clearly and deliver information in a logical and understandable sequence. Must be capable of dealing calmly and professionally with numerous different personalities from diverse cultures at various levels within and outside of the organization and demonstrate highest levels of customer service and discretion when dealing with the public. Must be able to perform responsibilities with composure under the stress of deadlines / requirements for extreme accuracy and quality and/or fast pace. Must be able to effectively handle multiple, simultaneous, and changing priorities. Must be capable of exercising highest level of discretion on both internal and external confidential matters.
- Must be authorized to work in the US **
Salary : $32 - $40