Real Estate Underwriter -Home Equity

Application deadline is 5 days after the date the role was posted.


Thank you for your interest in Bellco Credit Union! We’re a local not-for-profit organization that has been giving back to our members, the communities we serve, and of course, our employees since 1936. Offering one of the best employee benefits packages around, Bellco is a leader in fostering, developing, and engaging staff to become expert financial-service ambassadors. You’re a part of something more at Bellco—a place you can be proud of.


Real Estate Underwriter -Home Equity


LOCATION: Corporate DIVISION: CMXO

FUNCTION DESCRIPTION:

The Home Equity Underwriter will review and analyze home equity loan applications to determine whether applicants meet financial and creditworthiness criteria. The Underwriter assesses the risk associated with approving a loan, evaluates the borrower’s income, credit history, employment history, debt-to-income ratio, available equity, and other important factors. As part of the Home Equity Underwriting team, the Underwriter strives to provide exceptional service to all members.

ORGANIZATIONAL RELATIONSHIPS:
Reports to: Senior Manager - Real Estate Servicing and Processing

Supervises: No direct reports

Contacts: All levels of credit union employees, internal and external auditors, vendors and members

QUALIFICATIONS/REQUIREMENTS:

Experience:

• Minimum 3 years’ experience in residential underwriting, preferably with Home Equity experience
• Knowledge of general lending guidelines including state, federal and fair lending
• Knowledge of general real estate guidelines and credit analysis
• Thorough understanding of credit reporting and credit analysis
• Proven ability to analyze income documentation including personal and business tax returns and complete a cash flow analysis.
• Knowledge of appraisal and property data analysis
• Ability to apply guidelines and lending matrices
• Knowledge of title commitments and documents
• Ability to review member data in Core system
• Working knowledge of home equity processing and state and federal lending guidelines
• Knowledge of HMDA requirements
• Proficient with Microsoft Office (Word, Excel, Outlook).
• Strong analytical and decision-making skills.
• Strong attention to detail.
• Time management skills with the ability to prioritize workload.
• Strong communication skills both verbal and written.

Education: Bachelor’s degree in related field or equivalent experience preferred


Skills:

• Ability to work with a high degree of confidentiality
• Thorough understanding of credit reporting and credit analysis
• Proven ability to analyze income documentation including personal and business tax returns and complete a cash flow analysis.
• Knowledge of appraisal and property data analysis
• Ability to apply guidelines and lending matrices
• Knowledge of title commitments and documents
• Ability to review member data in Core system
• Working knowledge of home equity processing and state and federal lending guidelines
• Knowledge of HMDA requirements
• Proficient with Microsoft Office (Word, Excel, Outlook).
• Strong analytical and decision-making skills.
• Strong attention to detail.
• Time management skills with the ability to prioritize workload.
• Strong communication skills both verbal and written.
• Demonstrates strong analytical/problem solving and time-management skills


ESSENTIAL FUNCTIONS:

1. Demonstrates Bellco’s Act Nice Behaviors and Core Values in all interactions with members, prospective members, and personnel in other Bellco departments while holding staff accountable to standards.
2. Responsible for pipeline management and completing work within established Service Level Agreement (SLA) standards
3. Responsible for accuracy and completion of activities associated with the underwriting of home equity lines of credit.
4. Responsible for accurate math computations including but not limited to income, debt to income ratios, loan to value ratios and combined loan to value ratios
5. Ensure compliance with regulatory, and Agency requirements including but not limited to RESPA, Homeowner’s Protections Act of 1998, SCRA, Fair Credit Legislation, HMDA, and CFPB.

6. Responsible for final underwriting decisions on loans within granted lending authority that may involve approving or denying applications.

7. Responsible for applying lending guidelines fairly and without bias.

8. May be asked to contribute to compliance, auditing, and other organization-wide in