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LMCU · 1 day ago

Senior Mortgage Underwriter

Grand Rapids, MI

Full-time

Hybrid

Senior Level

5+ years exp

LMCU is a credit union that prioritizes its employees and their contributions. The Senior Mortgage Underwriter is responsible for analyzing and verifying complex loan applications, evaluating risks, and making loan eligibility decisions while ensuring compliance with relevant regulations.

BankingFinanceFinancial ServicesNon Profit

Responsibilities

Underwrites more complex mortgage loan applications including review of credit and collateral for all loan applications, income, and assets (including self-employment income). As part of the process, the Underwriter will approve, counteroffer, or decline residential loan applications within delegated lending authority, ensuring that files are fully underwritten to applicable guidelines including those of the secondary market

Analyzes and reviews appraisal reports and requests clarifications or corrections from vendor

Works as a team with the Loan Processors and Sales in regards to questions on loan structure and guideline adherence

Maintains a working pipeline while ensuring productivity levels are met and credit quality meets all defined standards

Updates information on loan origination systems to verify, add, and satisfy conditions

Stays current with various industry and organizational trends and changes including changes with underwriting guidelines, mortgage products, and PMI updates, while also serving as a subject matter expert in various areas related to mortgage underwriting

Must comply with applicable laws and regulations, including but not limited to, the Bank Secrecy Act, the Patriot Act, and the Office of Foreign Assets Control

Consistently demonstrates a commitment to the culture of Lake Michigan Credit Union. They exhibit the core values of Curious Minds, Collaborative Hearts, and Continuous Excellence, and contribute to helping all members achieve dreams for a lifetime

Qualification

Mortgage underwritingLoan origination systemsCollateralUnderwriterAdverse Action guidelinesTeam collaboration

Required

5+ years of similar or related experience, including preparatory experience

3+ years' experience of mortgage underwriting required

A high school diploma is required; higher education is strongly preferred

Understanding of current mortgage loan interest rates, commitment/rate lock/relock fee procedures, and consumer loan products including Execulines, second mortgage products, swing loans, and land loans

Proficiency with CollateralUnderwriter application and loan origination software systems

Understanding of Adverse Action guidelines and HDMA-related functions