Mortgage Underwriter II

Truliant’s mission is to improve lives by putting our members first, providing great service and straightforward financial solutions. Our core values of Member Focus, Service, Guidance, Relationships, and Community define how we interact with members to fulfill our mission of improving lives and providing a foundation on which we conduct ourselves.

Our Promise to Our Teammates: Truliant strives to provide all teammates with an enjoyable place to work where they feel valued, empowered and rewarded for all that they do.

Purpose of the Job

The Mortgage Underwriter II is responsible for reviewing and underwriting sellable and portfolio residential mortgage loan applications, including those insured by FHA and VA.  The Mortgage Underwriter II ensures lending standards are upheld, investor guidelines are maintained, and informs processors, loan officers, and management of findings and credit decisions. The Mortgage Underwriter II must be well-versed in standard concepts, practices, and procedures of residential underwriting and is able to ensure that the loan meets GSE, FHA, VA, and USDA insurability. The position must underwrite all levels of complexity of mortgage loan applications and evaluate loans to minimize risk or loss.

Essential Functions and Responsibilities

• Analyzes credit, income, tax returns, and assets to determine the borrower’s credit worthiness and ability to repay per the terms defined by the credit union and/or investor.
• Evaluates and reviews appraisal reports and collateral issues related to real estate to determine whether they properly support approval of a loan application.
• Reviews all third-party vendor reports for fraud, collateral valuation, and compliance with investor guidelines.
• Proposes alternatives to loan requests that do not meet underwriting guidelines and seeks approval when necessary.
• Mitigates risk by conducting thorough and prudent reviews of loan files. Validates loan application and supporting documentation. Dispositions loans within underwriting authority limits.
• Presents loans with recommendations to leadership when the loan limit exceeds the underwriter’s authority.
• Clears conditions identified through the underwriting process and issues a final approval for closing.
• Informs processors, mortgage loan officers, closers, and management of changes, status updates, findings, and credit decisions.
• Possess a strong understanding of multiple Correspondent Lending products, policies, processes, and their required documentation. Stays abreast of changing underwriting guidelines for FHA, VA, USDA, and other government programs.
• Maintains DE, SAR, and other underwriting designations.
• Mentors conforming and government underwriters and assists with complex loan files, as needed.
• Helps Underwriting staff to obtain DE and SAR Designations.
• May provide training and direction to team members in order to assure a clear understanding of compliance and lending guidelines, particularly with those intending to eventually serve in an Underwriter role.
• Manages assigned pipeline; dispositions loans and resolves conditions within established timeframes.

• Completes, passes, and maintains an up-to-date status for all positional and company-required compliance and regulatory courses by assigned due date(s).
• Displays commitment to ensuring compliance with applicable regulations by adhering to regulatory requirements and monitoring and reporting BSA/AML risks.
• Maintains confidentiality and security of all member transactions and information.
• Proposes recommendations for policy regarding portfolio guidelines, and enforces resulting procedures.
• Responsible for ensuring the underwriting team is kept apprised of policy and guideline changes and /or updates to all internal and government agencies.

Other Duties and Responsibilities

• Assists with other tasks and projects as assigned.

Knowledge, Skills, and Abilities

• Must have a sound understanding of standard concepts, practices, procedures, regulations, and compliance within the loan origination environment, as well as services offered by the credit union.
• Must possess a full range of expertise in secondary market and portfolio guidelines, including Fannie Mae and Freddie Mac.
• Must have USDA knowledge, along with DE and SAR required for FHA and VA underwriting, or have the skills and knowledge required to obtain them.
• Must have the ability to make independent decisions regarding the acceptability of loan files and approval/denial of loan applications.
• Must demonstrate ability to manually underwrite loans and apply sound judgment and decisions.
• Must demonstrate high volume productivity.
• Must be detail-oriented, organized, and work efficiently under pressure.
• Must have excellent communication skills in English, both verbal and written.
• Must have intermediate knowledge of Microsoft Excel and Word.
• Must have the ability to understand all business processes within the credit union.
• Must meet requirements to be bonded.
• Must be detail-oriented and well-organized.
• Must be able to work in a general office environment.
• Must be flexible and able to shift resources and priorities as required.
• Must be able to complete all assignments with minimal supervision.
• Should possess a strong commitment to providing excellent service to Truliant’s members.

Physical Requirements

• Occasional standing, walking, bending, and stooping required
• Must be able to sit at a desk for long periods of time and use a computer
• Must be able to moderately lift or move up to 5 pounds and occasionally lift or move up to 10 pounds

Education and Background

• High School diploma or equivalent required, with at least 10 years of mortgage lending experience required.
• 10 years of underwriting experience required.
• Bachelor’s Degree in Business or Finance preferred.

If you have a passion for member service and would like to invest in a meaningful career with opportunity for growth, we encourage you to apply to Truliant! 

As a member of the Truliant family, you will enjoy the following full time benefits:

• No-cost employee Medical, dental, vision coverage
• Prescription benefits (including mail order)
• Paid holidays and Paid Time Off (PTO)
• 401(k) plan with contribution matching  
• Paid community involvement volunteers hours
• Paid group life Insurance
• Teammate loan discounts
• Tuition reimbursement
• Short and long-term disability
• Health & Wellness program
• Teledoc (physician video conferencing)
• Onsite fitness facilities or health club reimbursement
• Employee Assistance Program (EAP)
• Medical flexible spending account
• Dependent care flexible spending account