United Mortgage Corp, a multi-state mortgage banker, is seeking a DE Underwriter to join our rapidly growing Company. This position is located at in our Melville, New York Operations Headquarters. Qualified applicants must have at least 3 to 5 years of experience provide the duties outlined below, preferably in a mortgage banking environment.
Job Summary:
The DE Underwriter’s primary responsibility is to review and analyze applications for residential mortgage loans (government and conventional). The Mortgage Underwriter will be responsible for reviewing third party reports such as credit reports and appraisals, reviewing and calculating income, reviewing asset documentation, and following up on outstanding loan conditions, clearing files to close, and ensuring compliance with all applicable lending regulations.
The Underwriter will also responsible for the review of conforming and non-conforming mortgage as well as equity loan applications to determine compliance with applicable state and federal regulations, investor guidelines and credit union standards. Review and analyze submitted loans for capacity, capital, character and condition while upholding fair lending practices. This includes ensuring that loan requests meet program and product specifications or counteroffer to a product and/or program when appropriate. Communicate decision (approval, counteroffer, suspense, denial) to applicable individuals within the department. Manage application turn time by executing credit decision according to the measurement set by department manager; meet targets. Support Underwriters, Processors and Home Loan Advisers as needed with scenarios and loan structuring.
Essential Job Functions:
- Underwrite loan files received daily according to Federal Housing Administration (FHA), agency, investor and credit union policy and procedures.
- Originate and validate FHA insured loans utilizing the U.S. Department of Housing and Urban Development's (HUD) direct online system, FHA Connection.
- Review and sign off underwriting conditions in accordance to credit union policy while maintaining established turn times.
- Maintain a thorough understanding of state and federal laws and regulations related to credit union compliance including bank secrecy and anti-money laundering laws appropriate to the position.
- Current knowledge of FHA, secondary market requirements regarding credit, income, disclosure and property that would also include, hands on experience using various agency related internet and computer based systems as necessary/required.
- Ability to analyze tax returns, credit and appraisal reports, fraud detection and other property or income related reports and documentation to insure that information meets agency, investor and credit union requirements.
- Organize and prioritize daily workload to insure compliance to credit union policy, procedures and established turnaround times.
- Communicate and interact with all pertinent vendors, service's, agencies, investors, staff, brokers and members.
- Maintain a current working knowledge of mortgage industry and credit union standards and trends.
- Monitor and resolve any quality control or insuring issues on relevant files in a timely manner to prevent delays.
- Work with management to implement procedures to prioritize work within the underwriting and processing area as volume dictates.
- Ability to work closely with origination and operations staff to insure compliance with guidelines and policies of credit union and agency.
Education & Qualifications
- 3-5 years of experience as an Underwriter and complete knowledge of the mortgage business
- Bachelor’s degree preferred or equivalent work experience
- Experience with FHA/ VA/ Agency loans
- Direct Endorsement (DE) Required
- Strong analytical skills, especially in credit and risk, along with decision making skills
- Effective interpersonal skills and technical report writing skills
- Attention to detail
Our Company offers competitive compensation and benefits to our employees, including healthcare, dental, vision and a 401(k)/Roth retirement plan. We also offer paid time off and paid holidays.
United Mortgage Corp is an Equal Opportunity Employer. Our Company does not and will not discriminate in our employment and staffing practices on the basis of race, age, disability, gender, sexual orientation, nationality or any other basis prohibited by law.
Job Type: Full-time
Pay: $95,000.00 - $135,000.00 per year
Work Location: Hybrid remote in Melville, NY 11747
