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Unity Bank Plc · 3 months ago

Mortgage Underwriter II

Clinton, NJ

Full-time

Onsite

Senior Level

$83K/yr - $108K/yr

7+ years exp

Unity Bank is seeking a Mortgage Underwriter II responsible for underwriting and approving mortgage loan applications to maximize organizational profit while minimizing risk. The role involves managing a pipeline of loans, conducting due diligence, and ensuring compliance with underwriting guidelines while providing support to various bank functions.

BankingFinanceFinancial Services

Responsibilities

Underwrite and approve Residential Mortgage loans, Construction loans, and Consumer loans and evaluate credit risk

Conduct loan-level due diligence and ensure each loan conforms to bank underwriting and/or investor guidelines

Manage a pipeline of loans submitted for closing

Interact with other areas of the bank, including processing, sales, and the closing / funding teams, as well as servicing and secondary sales teams

Perform a thorough review and analysis of all loan applicants in rendering a sound credit decision on all loans to ensure the Bank's ability to sell the loan on the secondary market or retain as a performing asset in its portfolio

Review and analyze credit, income, assets and collateral to ensure compliance FNMA, investor or Bank portfolio guidelines

Collaborate with team members and Management to identify or recommend potential solutions/exceptions for non-sellable or denied loan files

Examine all loan documentation to ensure accuracy and compliance with all state and federal policies and regulations

Communicate with mortgage sales, operations and branches to maintain a high level of customer service

Serve as a leader/trainer/mentor to processors and less experienced Operations staff

Maintain a high level of efficiency to ensure excellent turnaround times

Maintain current knowledge of all industry and bank program changes, policies and procedures

Communicates with Management on a loan by loan basis in recommending exceptions to policy

Assist with loan delivery and servicing in resolving any port-closing/delivery issues with FNMA or investor

Assist Loan Officers by reviewing loan scenarios to ensure loan is placed in correct program

Qualification

Conventional underwriting experienceFNMA/FHLMC guidelinesAutomated Underwriting SystemsFHA processing experienceLoan documentation analysisMS Word Suite proficiencyAnalyze creditCalculate figuresRead legal documentsCreate reportsCommunication skillsWork independently

Required

BA/BS

7 years conventional underwriting experience required

Ability to analyze title reports, tax returns and appraisals is required

Detailed knowledge of FNMA/FHLMC guidelines is required

Extensive knowledge of Automated Underwriting Systems LP/DU is required

Excellent communication skills, both written and verbal, are required

Excellent proficiency with MS Word Suite

Ability, familiarity and competence to perform all aspects of a loan transaction, from opening through closing

Ability to analyze credit, income, assets, appraisals

Ability to calculate figures and amounts

Ability to read, analyze and interpret legal documents, government regulations and professional publications

Ability to effectively present information and respond to inquiries from Senior Management, attorneys, vendors, government agents and the general public

Ability to create and generate reports

Ability to work independently with little supervision