Alaska USA Federal Credit Union

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Mortgage Underwriter III

at Alaska USA Federal Credit Union

Posted: 9/18/2019
Job Status: Full Time
Job Reference #: *7F156B6A76D4D6FA
Keywords: credit

Job Description

Requisition Number
19-0778

Post Date
9/6/2019

Title
Mortgage Underwriter III

Position Type
Full Time

Company
Alaska USA Federal Credit Union

Location
C Street Administration

City
Anchorage

State
AK

Minimum Salary Grade
Category 08: depending on experience

Work Hours
Monday - Friday: 8:30 am - 5:30 pm
Overtime as needed


Regular Schedule is five 8 hour days?
Yes

Description

Reports To: Regional Underwriting Manager

Functions Supervised: None

Primary Functions: Underwrite all types of mortgage loans and act as delegated underwriter for conventional, FHA, VA, and RD mortgage loans.

Duties and Responsibilities:

  1. Responsible for the underwriting of conventional, FHA, VA, and RD mortgage loans to insure compliance with established policies and requirements.
  2. Serve as a delegated or direct-endorsement underwriter within the requirements established by the investor, insurer or guarantor.
  3. Maintain a current knowledge of existing laws, statutes, regulations, ordinances, policies and procedures pertaining to real estate and mortgage lending.
  4. Work jointly with loan originator and processor to ensure alternative solutions are considered in order to meet both the borrowers expectations as well as investor guidelines.
  5. Assist in maintenance of the credit union's list of approved appraisers within the division.
  6. Perform other duties as assigned.


Requirements

Education: Bachelor's degree in business administration or management with advanced industry courses in real estate lending including knowledge of all applicable laws and regulations.

Creditable Experience in Lieu of Education: At least five years real estate lending industry, with at least five years underwriting experience preferable. Advanced industry courses in real estate lending recommended.

Experience/Skills: Proven ability to underwrite conventional loans and possess FHA (active DE CHUMs) delegation with recent experience underwriting FHA loans. Must also have experience or delegated authority to underwrite at least one of the following additional government loan types: RD, VA, or HUD184. Seven years experience underwriting conventional loans may be substituted for government loan experience requirement. Must be familiar with all investor guidelines and experience with DU, LP, and GUS underwriting systems.

Tenure: Mortgage Underwriter II, Category 9 requires one year tenure with performance that meets or exceeds expectations in the Mortgage Underwriter I position and the ability/delegation to underwrite at least one government loan program as described in the Mortgage Underwriter II job description. Mortgage Underwriter III, Category 8 requires two years tenure with performance that meets or exceeds expectations in the Mortgage Underwriter II position, and the ability/delegation to underwrite at least two government loan programs as described in the Mortgage Underwriter III job description. Senior Mortgage Underwriter, Category 7 requires two years tenure with performance that meets or exceeds expectations in the Mortgage Underwriter III position and the ability/delegation to underwrite all mortgage loan programs offered by Alaska USA Federal Credit Union. Directly related work experience and/or accelerated training completion may be substituted for tenure. Advancement requires management recommendation and approval and will be based on the candidate’s performance.