Underwriter

This position is responsible for decisioning loan applications within the mortgage department. The underwriter evaluates and verifies loan documents to determine the applicant's ability to repay the mortgage loan. The role requires strong competency with FNMA underwriting guidelines. Responsibilities include reviewing the 1003 and 1008 forms, trust documentation, title reports, homeowner and condo master policies, and insurance documentation. The underwriter ensures that loan terms and property specifications comply with credit union policies and applicable government regulations.

PM22

Reviews and evaluates information on mortgage loan documents to determine if buyer, property, and loan conditions meet Credit Union and government standards.

Approves or rejects loan application or requests additional information.

Evaluates acceptability of loan to corporation that buy real estate loans on secondary mortgage markets (where existing mortgages are bought and sold by investors).

Assembles documents in loan file, including acceptance or denial and returns file to originating mortgage loan department.

Records loan rejection, specifying investor and Credit Union guidelines and basis for declining application.

PM22

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