Mortgage Underwriter
$70,346–$106,912 year
HybridGlendale, California, United States
Job Summary
Review and evaluate mortgage loan documentation including credit reports, income verification, and property appraisals to determine compliance with LAFCU, FNMA/FHLMC, and regulatory standards. Approve, deny, or counteroffer loan applications based on risk analysis and guidelines, while originating and processing applications using Mortgage Software. Assess loan acceptability for secondary market investors, record rejections with detailed rationale, and set up closings, funding, and post-funding procedures. Respond to member inquiries regarding loan programs and rates via phone and in person, actively cross-selling LAFCU products and services while maintaining complete loan files and adhering to SAFE Act and BSA requirements.
Required Qualifications
- Two years to five years of underwriting real estate loans
- Three years of experience in processing loans according to Secondary Market standards
- Experience in prequalification
- Ability to analyze rental income and self-employment income from personal income tax returns
- Knowledge of regulations relating to real estate lending
- Required experience with PC based loan processing software
- A two-year college degree, or completion of a specialized certification or licensing, or completion of specialized training courses conducted by vendors, or job-specific skills acquired through an apprenticeship program
- Ability to register as a mortgage loan originator with the Nationwide Mortgage Licensing System and Registry and obtain a unique identifier from the Registry before engaging in mortgage loan originator activities
- Ability to maintain and renew that registration on an annual basis
- Ability to update registration information with the Registry on a timely basis
- Ability to provide that unique identifier to consumers as required by applicable SAFE Act regulations and LAFCU policies and procedures
- Ability to operate standard business machines such as computers, printers, fax, copiers and telephone devices
- Good interpersonal, oral and written communication skills
- Very good mathematical, analytical and mental concentration skills
- Experience in quality control and documentation requirements of Secondary Market
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