Municipal Credit Union · 11 hours ago
Underwriter I
United States
Full-time
Remote
Entry Level
$24/hr - $39/hr
4+ years expMunicipal Credit Union is a long-standing financial institution dedicated to providing affordable financial products and services. The Underwriter I will be responsible for underwriting mortgage and home equity loans, ensuring compliance with guidelines, and analyzing loan application information.
BankingFinanceFinancial Services
Responsibilities
Underwrite primarily Municipal Credit Union portfolio loans, agency loans, and Home Equity loans
Review and evaluate loan documents to ensure accuracy, completeness, and compliance with company standards, as well as any applicable federal, state-specific and or local regulations, ordinances, etc
Analyze pre-approvals, purchase, refinance and home equity/HELOC transactions while maintaining accuracy and quality of loan documentation
Demonstrate effective pipeline management, including turn-times with management expectation
Ability to successfully maintain productivity, achieve goals, and uphold quality standards while working in a remote environment
Ability to review scenarios and develop alternative solutions
Review residential mortgage and home equity applications including transaction type, occupancy, property, HMDA information to identify all sections are complete and accurate and meet program guidelines
Required to calculate and analyze loan-to-value ratios, debt-to-income ratios by verifying credit, employment, income, assets, reserves, subject property info, properties owned, and funds needed to close. Determine borrower’s ability to repay is within safe harbor standards
Ability to calculate various income sources including salaried/hourly employment, self-employment, retirement and rental income
Evaluate borrower’s credit profile and assess risk in accordance with current and historical delinquency standards
Review title work to ensure borrower, Credit Union and transaction information are accurate, as well as, assessing liens to be paid off and that clear title is passed
Analyze condominium and co-op documentation to assess stability of projects
Identify red flags and request supporting documentation to identify potential fraud or misrepresentation. Utilize system and tools to evaluate potential risks
Review appraisals to ensure that loans meet secondary market, investor, and Credit Union guidelines
Work with Loan Processors and Loan Officers in identifying any additional information and/or documentation necessary to finalize incomplete loan packages
Determine documentation or information needed to render a loan decision; request additional documentation or information accordingly , by adding the necessary conditions in the loan origination system and commitment letters
Review and verify AUS Findings for accuracy and/or options/recommendations for suitable loan programs or counteroffers
Stay abreast of current regulations and industry trends that affect compliance, decision-making and secondary market guidelines
Prepare applications to be submitted to PMI (Private Mortgage Insurance) providers
Generate and review related disclosures, notices and commitment letters
Evaluate applications for exception review, counter offers and/or denials
Use resources to trouble shoot and/or investigate issues
Effectively communicate with sales, operation and quality assurance colleagues and borrowers, as required
Review and respond to audit findings
Generate and submit required reporting
Develop and help lead team training
Participate in system testing
Perform other duties as assigned within mortgage and home equity
Qualification
Required
High school diploma or equivalent required; 5 years' experience or Associate's degree, plus 4 years of relative experience or 7 years performing real estate loan servicing functions in a medium to large sized organization
Ability to work in a fast-paced environment while interacting with loan officers, loan processors and management
Ability to demonstrate knowledge of real estate lending practices including federal and state regulations as well as related real estate loan documentation
Strong PC skills, with intermediate knowledge of Microsoft Word, Excel and PowerPoint
Strong knowledge of institutional guidelines and the ability to analyze data and make appropriate on the spot decisions
Full knowledge and understanding of RESPA, Regulation Z, CFPB, HMDA, TILA, ECOA, FCRA, Fair Lending, title insurance, title reports, notes, real estate lending, and related documentation
Thorough knowledge of Fannie Mae, and secondary market guidelines
Excellent problem-solving skills
Strong written and verbal communication skills
Ability to effectively prioritize tasks and meet deadlines
Must be flexible and adaptable in a changing environment
Ability to work overtime when required
Self-motivated, ability to communicate within a team to
Ability to perform in a high-volume environment and meet deadlines while maintaining exceptional attention to detail
Technologically proficient
Benefits
Medical And Dental Benefits
401K with employer contribution
Flexible paid time off
Company
Municipal Credit Union
Municipal Credit Union has been serving the financial needs of our members since 1916.
501-1000 employees
Funding
Current Stage
Late StageLeadership Team
Kyle Markland
Chief Executive Officer
Frank Madeira
Chief Financial Officer
Recent News
2025-05-16
Digital Trends
2025-03-29
Company data provided by crunchbase