Mortgage Underwriter IV - OneAZ Credit Union

Our associates enjoy a one-of-a-kind culture with a rich benefits package that includes:

• Generous paid time off: 11 paid holidays, 2 floating holidays, 6 personal days, 10 vacation days, plus sick time
• Low-cost Medical, Dental & Vision plans – as low as $5 per pay period
• Paid childcare assistance (up to $96 per pay period)
• Award-winning 401(k) 5% discretionary match - fully vested from day 1
• 100% Gym fee reimbursement up to $75/month
• 100% Tuition Reimbursement Up to $5,250
• $1200/yr student loan repayment
• Plus a great schedule with NO WEEKENDS!
• Target hiring range $37/hr - $47/hr (Depending on experience and prior to any incentives this position is eligible for)

Summary

Approves or denies mortgage loans based on credit union guidelines by performing the following duties. Provides guidance and support to Production and Operation teams which may include training. Keeps abreast of ongoing market changes and industry changes that would/could impact our underwriting process or collateral risk. Must be able to handle a variety of different investors, loan programs, and working with different production channels understanding the different risk levels for each.

Essential Functions

• Reviews and evaluates information on mortgage loan documents to determine if buyer, property, and loan conditions meet credit union and government standards. Evaluates the entire credit package and collateral to ensure the credit union's position of a quality loan product.
• Confirms accuracy of all income, indebtedness, ratios, loan-to-value and any other calculations necessary in determining final decision and compliance to investor guidelines and/or MI company.
• Presents loans for higher lending authority, making recommendations for approval.
• Elevate and present loans following the appeal process.
• Works closely with processing, closing, funding and quality assurance to ensure member is receiving a product that will be beneficial to member.
• Evaluates acceptability of loan to corporations that buy real estate loans on secondary mortgage markets, where existing mortgages are bought and sold by investors.
• Determines terms and acceptability of risk of prospective business.
• Sets prices for prospective mortgage loan applicants.
• Approves or rejects loan application, based on RE Loan level, or requests additional information.
• Clears credit and property conditions placed on loan as required.
• Reviews title to ensure ALTA matters have been cleared and easements are within general guidelines as established by credit union.
• Reviews flood certifications and compares to appraisal.
• Records loan rejections, specifying investor and credit union guidelines and basis for declining application, such as insufficient cash reserves.
• Assembles documents in loan files, including acceptance or denial, and returns files to originating mortgage loan officer.
• Maintains underwriting activity logs and provides weekly or monthly underwriting reports to Mortgage Lending Manager.
• Provide critical support to both processing and sales staff regarding loan guidelines, placement, and possible scenarios.
• Stays informed of changing market guidelines and communicates to managers and staff critical market data.
• Communicates to management associate issues that may require additional training or management intervention.
• Develop an understanding of Credit Union philosophy, organization, bylaws, and operational procedures and comply with the requirements of the Bank Secrecy Act, AML, OFAC and all other applicable State and Federal Financial Institution Regulations.

Ability to train and work with construction loans not limited to underwriting of construction specific documents, builder contracts, cost breakdowns, and description of materials.

This job description should not be considered all-inclusive. It is merely a guide of expected duties. The associate understands that the job description is neither complete, nor permanent and may be modified at any time. At the request of their supervisor, an associate may be asked to perform additional duties or take on additional responsibilities without notice. Complies with all policies and standards. Position grades could fluctuate based on market value.

Education

• High School Diploma Required
• Associate's Degree or specialized course of study or certification.

Experience

• 10 to 15 years of similar or related experience. underwriting experience with knowledge of FNMA/FHLMC guidelines.

Knowledge, Skills and Abilities

• Must have a high level of experience in appraisal reviews and PMI underwriting guidelines.

Why join the OneAZ team?

Our culture is one-of-a-kind! You’ll be joining a team of friendly, hardworking, helpful associates with the same mission guiding all that we do: We exist to improve the lives of our members, our associates and the communities we serve.

We are proud to be an equal opportunity employer and value diversity. We do not discriminate on the basis ofrace, color, religion, creed, national origin or ancestry, sex (including pregnancy), age, physical or mental disability, veteran or military status, genetic information, sexual orientation, gender identity, or any other legally recognized protected basis under federal, state, or local law.

We offer robust benefits including low-cost medical, dental and vision plans, gym reimbursement, paid parental leave, generous personal days and vacation time, and an award-winning 401(k) program among many others. Take a look at our career page for detailed benefit information:www.oneazcu.com/about/careers

Additional Notes:

Candidates for this position will be required to sign an authorization for OneAZ to conduct a credit and criminal background check, pursuant to procedures in the Fair Credit Reporting Act and any other applicable laws.

All candidates will be considered for this position on an individualized basis, in compliance with all applicable equal employment opportunity laws.

Ensures compliance with applicable policies, laws, and regulations, including the Bank Secrecy Act (BSA), Anti-Money Laundering (AML) compliance, USA Patriot Act, and Office of Foreign Assets Control (OFAC).

Any individual who meets the definition of a mortgage loan originator and is employed by a federal agency-regulated institution will need to be registered on NMLS.