At Abound Credit Union, we are committed to hardworking Kentuckians. Driven by our dedication to members and community, we create a connected space that inspires financial wellness. We do that by sharing our knowledge, strength and accessibility to provide market-leading value that makes more possible for our members.

Here at Abound Credit Union, culture is big deal. We roll up our sleeves each day to make this an awesome place to work. We want to bring great things to our communities, be awesome to each other, ready for whatever comes our way, and hungry to learn and grow as people and professionals. Our best is built from the inside out.

POSITION SUMMARY

As Residential Mortgage Underwriter for Abound Federal Credit Union, you will be engaged in a rewarding and challenging environment in underwriting as part of our residential mortgage department.

This position’s responsibilities include evaluating documentation and making credit decisions on loans, confirming mortgage lending policies and procedures are followed while ensuring compliance with all state and federal lending laws. 

The responsibilities also include verifying the accuracy of URLA data, credit history, and ensuring the appraisal/collateral and all other loan attributes meet the requirements of the loan product and investor (Abound, FHLB, FHLMC, FNMA) guidelines.  This position also assists with development of training material and performs training for production and sales staff. 

A fun and engaging culture is critical to the health and success of the organization.  The Residential Mortgage Underwriter contributes to the culture by promoting teamwork, growth and development, collaboration, and innovation.

ESSENTIAL DUTIES

• Analyze and evaluate all aspects of borrower’s credit, employment/income and asset profile.  Make final decision on acceptance or decline of loan request. 

• Ensure the appraisal/collateral and all other loan attributes meet the requirements of the loan product and investor (FKFCU, FHLB, FHLMC, FNMA) guidelines.

• Conduct initial and final review of first mortgage loan applications.

• Underwrite all conventional conforming and jumbo loans in accordance with investor guidelines and Automated Underwriting System (AUS) Recommendations.

• Underwrite loans for Abound Portfolio and other Investors in accordance with any/all investor overlays on guidelines and conditions.

• Ensure the accuracy of all necessary criteria for specific loan types, products, rates, and fee structures.

• Provides expert level guidance to staff, resolving more complex underwriting scenarios and structuring more challenging loans with higher or layered risk profiles.

• Coordinates with 3^rd party support agencies such as appraisers, PMI companies and secondary market investors to ensure clear understanding of applicable guidelines for each loan and obtaining exceptions, if warranted.

• Document mortgage loan exceptions – via reports and in loan files, as applicable.

• Monitor changes and/or updates to NCUA, Freddie Mac, Fannie Mae, Federal Home Loan Bank and any other applicable investor requirements and, in conjunction with Compliance Officer and Manager – Lending Operations, recommends changes to products, policies and procedures where needed.

• Develop and analyze monthly mortgage underwriting reports.  Develops procedures and reporting tools to increase automation; streamlining procedures and increasing efficiency.

• Support mortgage loan originators and mortgage loan processors in structuring difficult deals.

• Assist in providing retail real estate service by providing guidance and/or training to branch lending staffs and processors.

• Develop and write policies and procedures that are easily understood, while adhering to state and federal regulations.

• Work toward obtaining FHA, USDA and VA industry certifications and credentials.

• Other duties and tasks as assigned. The list of essential duties is not exhaustive. It may be supplemented as necessary from time to time.

QUALIFICATIONS

REQUIRED

• Minimum of 5 years’ experience as a consumer underwriter or mortgage processor.

• Working knowledge of lending laws, regulations, policies and procedures applicable to both real estate mortgage and/or consumer lending.

• Friendly, outgoing manner, ability to interact with staff with tact and courtesy and maintain        professional demeanor in all situations.

• Self-motivation, enthusiasm, and initiative with a willingness to support others within the Credit Union. 

• Effective oral and written communication skills.

• Working and applicable knowledge of basic personal computer functions and software to include word, excel, and power point.

DESIRED

• General knowledge of FNMA, FHLMC, FHLB, FHA and VA guidelines and program requirements.

• Experience with Loan Origination System (LOS) back office and administrative functions – creating and updating underwriting conditions as needed.