Function Description: The Real Estate Underwriter - Home Equity II will review and analyze home equity loan applications to determine whether applicants meet financial and creditworthiness criteria. The Underwriter II assesses the risk associated with approving a loan, evaluates the borrower’s income, credit history, employment history, debt-to-income ratio, available equity, and other important factors. The Underwriter II will act as a mentor to team members assisting in training as necessary and will provide advanced technical expertise. As part of the Home Equity Underwriting team, the Underwriter II strives to provide exceptional service to all members. The Home Equity Underwriter II may participate in QC activities.
Reports to: Sr. Manager – Consumer & Mortgage Underwriting
Supervisory or Managerial Responsibility: None
Contacts: All levels of credit union employees, internal and external auditors, vendors and members
Minimum Qualifications
Education:
Bachelor’s degree in related field or equivalent experience preferred.
Work Experience:
4 years’ experience in residential underwriting.
Knowledge of general lending guidelines including state, federal and fair lending.
Experience in home equity underwriting preferred.
Special Training, Certification or Licensure
None
Work Environment and Conditions:
Office environment.
Hybrid working environment may be considered.
Saturday Hours Required.
Essential Responsibilities:
Demonstrates Bellco’s Act Nice Behaviors and Core Values in all interactions with members, prospective members, and personnel in other Bellco departments.
Responsible for pipeline management and completing work within established Service Level Agreement (SLA) standards. The Real Estate Home Equity Underwriter II may be responsible for increased production due to advanced technical expertise.
Responsible for accuracy and completion of activities associated with the underwriting of home equity lines of credit.
Responsible for accurate math computations including but not limited to income, debt to income ratios, loan to value ratios and combined loan to value ratios.
Ensure compliance with regulatory, and Agency requirements including but not limited to RESPA, Homeowner’s Protections Act of 1998, SCRA, Fair Credit Legislation, HMDA, and CFPB.
Responsible for final underwriting decisions on loans within granted lending authority that may involve approving or denying applications.
Responsible for applying lending guidelines fairly and without bias.
Has the ability to manage fluctuating volumes which may include times of high volume.
Works with management team to distribute and reallocate pipelines as necessary to ensure member experience.
Identifies training needs for team members and may lead on the job training.
Ensure member satisfaction within all loan channels and points of contact with frontline, back-office staff and members
Report vendor performance and service standards to the management team, as necessary.
Collaborate internally with other team members to troubleshoot questions/issues and resolve inquiries while adhering to response time and quality goals.
Performs other related duties as assigned by management.
Skills: Ability to work with a high degree of confidentiality, Thorough understanding of credit reporting and credit analysis, Proven ability to analyze income documentation including personal and business tax returns and complete a cash flow analysis, Knowledge of appraisal and property data analysis, Ability to apply guidelines and lending matrices, Knowledge of title commitments and documents, Ability to review member data in Core system, Working knowledge of home equity processing and state and federal lending guidelines, Knowledge of HMDA requirements, Proficient with Microsoft Office (Word, Excel, Outlook), Strong analytical and decision-making skills, Strong attention to detail, Time management skills with the ability to prioritize workload, Strong communication skills both verbal and…