Senior Mortgage Underwriter

Texans Credit Union - Richardson, TX

Full-time - Mid Level

Richardson, TX

Credit Intermediation and Related Activities

About the position

The Senior Mortgage Underwriter plays a crucial role in analyzing financial information and assessing the risk associated with various mortgage products offered by Texas First Mortgage, including purchase, refinance, jumbo, government, agency loans, home equity, home equity lines of credit (HELOC), home improvement mortgages, improved lot loans, and construction loans. This position requires a deep understanding of the lending landscape, particularly in Texas, and involves active participation in the Real Estate Lending Organization to support all loan products. The underwriter will also engage in secondary market activities and collaborate with team members to ensure compliance with lending policies and procedures. In this role, the Senior Mortgage Underwriter is expected to provide excellent member service, fostering relationships with both internal and external members. The focus is on creating positive member experiences throughout the entire loan lifecycle. The underwriter must adhere to the credit union's Real Estate Lending credit program, ensuring compliance with Texas home equity credit laws, rules, and regulations. A comprehensive understanding of the Dodd-Frank Act, TRID regulations, and applicable real estate laws is essential. The ideal candidate will have demonstrated experience in performing end-to-end judgmental analysis of mortgage credit in both automated and non-automated environments. They should possess certifications such as DU certification, FHA Direct Endorsement (DE), and VA SAR Approval. Responsibilities include conducting complex income verification analyses, performing appraisal and collateral reviews, and providing analytical and credit support in accordance with loan policies. The underwriter will also mentor junior underwriters and assist the Lending Manager/VP with compliance reports and special projects. Additionally, the Senior Mortgage Underwriter will present underwritten transactions to credit and senior management, identify critical risks, and ensure compliance with loan policies. They will be responsible for validating loan covenants and risk ratings, delivering HMDA analytics, and promoting credit union services to members. The role requires maintaining a response time on loan decisions within four hours and actively participating in team meetings and discussions.

Responsibilities

• Provide excellent member service and develop relationships with internal and external members.
• Follow the credit union's Real Estate Lending credit program consistent with strategic initiatives, governing Texas Home equity credit laws, rules and regulations.
• Possess an expert-level understanding of the Dodd-Frank Act, TRID regulations, and all applicable real estate laws and requirements.
• Perform end-to-end judgmental analysis of mortgage credit in a non-automated and/or an Automated Underwriting System (AUS) environment.
• Complete complex verification of income analysis and perform appraisal/collateral/title/survey reviews to ensure adherence to loan policy, loan guidelines, federal regulatory requirements, and Texas Home Equity laws.
• Provide analytical and credit support in accordance with loan policies and procedures, loan production, and products.
• Support and guide junior underwriters and loan processors with their daily tasks.
• Assist Lending Manager/VP with compliance and analytical reports, business communications, special projects, and loan exceptions.
• Present underwritten transactions to credit and senior management in a clear and concise manner with well-reasoned support.
• Identify critical transactional and structural risks, complete in-depth diligence on critical focus areas, and propose mitigation controls or structuring alternatives.
• Support management in ensuring routine, quarterly, and annual loan reviews of existing partner and vendor output is completed.
• Validate all loan covenants and risk ratings to determine data integrity and compliance.
• Present compiled data and provide data-driven and member-focused recommendations and/or deliverables.
• Deliver all required HMDA analytics, trial testing, and data delivery in accordance with mandated and credit union deadlines.
• Promote and cross-sell credit union services/products that are beneficial to members.
• Create/develop/update policies, procedures, and job aides as needed and/or as assigned.
• Achieve measurable goals and other duties as necessary to achieve the goals of the credit union and department.
• Maintain response time on loan decisions within 4 hours of receipt in underwriting queue.
• Meet with your manager bi-weekly and actively participate in team/department meetings.
• Proactively seek solutions leveraging industry tools to ensure compliance with Agency guidelines, regulations, and bank policies and procedures.
• Maintain a deep understanding of processes and activities associated with selling/buying loans in the Secondary Market.
• Act as secondary system administrator for LOS software, including setup, research, and development.
• Mentor junior underwriters and MLOs to assist with origination responsibilities, including marketing activities and promotional strategies.
• Complete any other job-related or assigned duties needed that reinforce Texans Credit Union's EPIC values.

Requirements

• Strong experience underwriting secondary market residential loans in compliance with Agency guidelines, regulations, and credit union policies and procedures.
• Strong knowledge in first liens and second liens with a working knowledge of Texas Home equity products and services.
• Excellent member service skills and exceptional interpersonal and oral communication skills.
• Extensive knowledge in the areas of Truth-in-Lending, Equal Credit Opportunity Act, Fair Credit Reporting Act, Dodd-Frank, TRID, and Texas State Home Equity Laws.
• Prior experience working in a paperless environment, including familiarity with online Loan Origination Systems (e.g., Blue Sage, Empower, Encompass, Byte, Calyx Point).
• Knowledgeable in HMDA and experience in reviewing and preparing data for HMDA reporting.
• Bachelor's degree in Finance, Economics, or Business.
• Minimum 5 years or more of similar or related experience, preferably with Texas product lending including Home Equity products and services.

Nice-to-haves

• DU certification (preferred)
• FHA Direct Endorsement (DE)
• VA SAR Approval

Benefits

• Health insurance
• 401k retirement plan
• Paid holidays
• Flexible scheduling
• Professional development opportunities