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Air Force Federal Credit Union

J O B  I N F O R M A T I O N
Title:Mortgage UnderwriterSalary:50000 - 75000
City:San Antonio Location: TX
Category:Credit BankingPosted: 2/27/2013
P O S I T I O N  I N F O R M A T I O N
Air Force Federal Credit Union is seeking an experience Mortgage Underwriter. This individual will be responsible for underwriting mortgage applications, compiles and creates credit decisions, interprets investor guidelines and policies, reviews all loan submissions to ensure that they meet the investor guidelines; weighs credit risk to ensure that the loans originated by the credit union will be saleable in the secondary market.
Duties and Responsibilities:
•  Responsible for underwriting mortgage files. Analyzes loan applications to issue loan approvals, denials or counter offers with delegated authority, Credit Union Lending policy and to meet PMI, FNMA, FHLMC, FHLB, secondary marketing guidelines, investment and Freddie Mac, Fannie Mae, VA and FHA standards. Reviews and evaluates information on mortgage loan documents to determine if buyer, property, and loan conditions meet establishment and government standards.
•  Renders loan decisions utilizing financial data provided with or without loan decision applications while applying policy within their delegated authority and exercising independent judgment and discretion to build the credit union’s loan portfolio and mitigate losses. Thoroughly reviews mortgage applications and files, issues conditions, supports loan decisions with strong underwriting analysis and ensures the loans are underwritten in accordance with agency regulatory guidelines.
•  Coordinates underwriting activities with loan processing and loan closing to ensure loan requirements are met; notifies loan production personnel of incomplete files to obtain appropriate information necessary to complete loan packages.
•  Ensures and upholds fair lending practices of the credit union; meets targets for productivity, quality and member satisfaction; performs second review of contract underwritten denials; and consults with Vice President Mortgage Lending on escalated loan inquiries and/or exceptions
•  Analyzes appraisals (including FHA, under DE program and SAR under VA program). Reviews the fees appraiser’s reports for completeness and conformity with industry-accepted appraisal practices and techniques as well as all other Federal Housing Administration (FHA) and Veterans Administration (VA) requirements. Determines the reasonable value of the property and any conditions which must be met prior to VA guaranty of the loan, sends the veteran buyer a written notice of value which includes any conditions or requirements upon which the VA loan guaranty is contingent.

•  Must have active Federal Housing Authority (FHA) Direct Endorsement (DE) and Staff Appraisal Reviewer (SAR) designation.
•  Must qualify for registration with the Nationwide Mortgage Licensing System (NHMLS) and registry to comply with the S.A.F.E. Act.
•  Must have at least three (3) current years as an underwriter of VA, FHA, conventional and Texas cash out refinance loans. Additional preceding experience as a processor and/or closer is preferred.
•  Experience with underwriting applications to include Loan Prospector (LP) and desktop Underwriting (DU) is required. Experience with Prime Alliance origination software is a plus.
•  Must have knowledge of PMI, FNMA, FHLMC, FHLB and investor and secondary marketing guidelines; Federal and State regulations, including RESPA, TILA, ECOA, and HMDA requirements.
•  Must have a good consumer credit report and be bondable.

Apply online at
AFFCU is an Equal Opportunity Employer, AA.M/F/D/V
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