Mortgage Compliance Underwriter

$75,000 - $80,000/Yr

Cu Alliance - Houston, TX

Full-time

Houston, TX

Credit Intermediation and Related Activities

About the position

We are seeking a detail-oriented Underwriter to join our team. The Underwriter will be responsible for evaluating and determining the creditworthiness of loan applications, ensuring compliance with company policies and industry regulations. This role involves a thorough review of loan documents, including income calculations, credit reports, and various financial statements, to ensure that all aspects of the loan meet the necessary guidelines for approval. The Underwriter will also be tasked with analyzing complex personal and business financials, ensuring that the origination and processing of loans are conducted correctly according to investor and company guidelines. In addition to underwriting responsibilities, the position includes compliance, auditing, and reporting duties. The Underwriter will review a sampling of real estate loans monthly for regulatory compliance and will be responsible for creating and maintaining policies and procedures that adhere to the Fair Credit Reporting Act. This includes reviewing forms and disclosures for accuracy and compliance, conducting Fair Lending Reviews, and preparing regulatory reports. The Underwriter will also assist in training staff and act as a resource for the production department regarding real estate secured loans, ensuring that all team members are informed about new regulatory requirements and updates. The Underwriter will work closely with management to maintain proper insurance for the company, manage ongoing risk management, and conduct vendor reviews for new vendors. This position requires strong analytical skills, a deep understanding of financial concepts, and the ability to adjust loan programs based on market and regulatory changes. If you possess these skills and are looking to join a dynamic team, we encourage you to apply for the Underwriter position.

Responsibilities

• Ensure that the origination and processing of the loan have been done correctly, and according to investor and company guidelines to enable the loan to move to closing/funding.
• Review specific loan scenarios/opinions with production staff adhering to GSE product descriptions and/or overlay requirements.
• Review loan documents with income calculations and have thorough knowledge of complex personal and/or business financials.
• Analyze loan documentation such as credit reports, verifications of employment, pay stubs, and verifications of deposits, tax returns, bank statements, appraisals, and all other supporting documentation provided.
• Examine mitigation factors to ensure that the collateral has sufficient market value to secure the loan.
• Review a sampling of real estate loans monthly for regulatory compliance.
• Review Fair Credit Reporting Act procedures for compliance and accuracy as pertains to Real Estate Loans.
• Review forms and disclosures for real estate loans for accuracy and compliance.
• Conduct or assist with Fair Lending Reviews on real estate loans.
• Calculate figures and amounts, such as discounts, interest, APR, commissions, proportions, and percentages such as debt-to-income ratios to ensure MHL stays in compliance; Complete regulatory reporting.
• Review sampling of Adverse Action for all real estate secured loans monthly; Review systems for compliance and correct codes, document control and/or stated parameters; Prepare reports for reviews that will establish patterns and violations.
• Review sampling of HMDA-LAR data in conjunction with loan review and prepare HMDA reports.
• Assist with training of staff as needed and regularly review training material for adherence to compliance regulations.
• Answer day to day questions from production department as it relates to real estate secured loans and act as a resource for researching issues, new regulatory requirements, distribution of updates, etc.
• Review company policies and procedures for completeness and compliance.
• Adjust loan programs based on market, regulatory or CU changes.
• Work with management on maintaining the proper insurance for the company, as well as manage HEAT cases and ongoing risk management.
• Vendor review with management for new vendors.

Requirements

• Strong underwriting skills, including data collection and risk analysis.
• Proficiency in financial concepts, cash flow analysis, and financial modeling.
• Experience in regulatory reporting and compliance.
• Knowledge of financial services and credit analysis.
• Ability to conduct equity research and negotiate effectively.
• Familiarity with financial software and quantitative research techniques.