Mortgage Underwriter - Westchase District

The Mortgage Underwriter (MU) will have extensive history of underwriting mortgage loans consistent with Fannie Mae, investor and PMI underwriting guidelines for residential mortgage loans, Texas home equity, cash out loans, lot loans, HELOCS and home improvement loans. Expertise with Encompass LOS is expected. MU will need to successfully apply their underwriting knowledge to the portfolio underwriting process, incorporating the credit union's processes, procedures and guidelines for portfolio mortgage loans. Lending authority may be granted based on performance and experience. The MU will have a proven track record of successfully delivering loans directly to Fannie Mae or secondary market investors. Must ensure Secondary Market loan files contain all documentation to support the loan request prior to funding with FNMA or other investors. This position works closely with the Credit Union’s Chief Credit Officer, Compliance Officer, Mortgage SVP Relationship Development, AVP Mortgage / HE Origination or Mortgage Sales team, and stays abreast of regulatory and compliance changes or requirements, and regulations, and recommends and/or implements controls, policies, and processes to mitigate loan loss risk. Reviews loan files for compliance for 3rd party underwriting engagements as applicable. Educates and updates the team around secondary market updates and changes.

Underwrites residential mortgage loans to ensure compliance with Credit Union policies, guidelines and procedures, conventional, secondary market standards and policies within the Encompass LOS platform. Approves loans within designated approval authority. Demonstrates knowledge of the CFPB’s Ability to Repay regulations, Qualified and Non-Qualified mortgage loans and appraisal valuations. Underwrites loans to meet contract deadlines and rate lock expiration dates and within SFCU’s established timeframes. Issues adverse actions or counter offers with loan originator or member as appropriate.

Receives and reviews loan files for sufficient documentation to make an informed loan decision based on the product description and standard underwriting guidelines. If there is insufficient information, requests the required information or documentation from the processor, originator, or member. Complete a thorough analysis of the loan package to determine compliance with company and/or investor requirements. Reviews appraisals to determine the consistency of the information, if the comparables have been used within reasonable tolerance to support the final value, and if any additional underwriting considerations need to be made based on the condition of the property or of other conditions recommended/required by the appraiser. *Appraisal reviews must be in accordance in Fannie Mae guidelines and on specific FNMA approved forms*. Selects the private mortgage insurance company to provide required coverage to all loan files above 80% loan-to-value. Must adhere to PMI company distribution requirements. Provides documentation in the file if a policy, procedure, or guideline exception is made stating the type of exception and compensating factors to support the decision. Prepares and signs all conditional and final approval letters.

Identify areas of risk to the mortgage underwriting process and assist the Chief Credit Officer and Mortgage Sales Team in investigating/analyzing the issues and preparing reports for management accordingly. Identifies workflow gaps and procedural shortfalls or enhancements and implements accordingly as directed by Chief Credit Officer. Responsible for compliance with all company policies and procedures, applicable laws, and regulations, including but not limited to, the Bank Secrecy Act, the Patriot Act, and the Office of Foreign Assets Control, RESPA, Dodd-Frank, Reg B, Reg Z, HMDA, SAFE Act, Fair Credit Reporting, Fair Lending, ECOA, and Privacy laws.

Deal with escalated/complex queries, taking ownership of a problem and identifying a solution/way forward. Exhibits excellent time management, accuracy and attention to detail in loan reviews. Loans that are packaged for FNMA delivery are organized and neatly presented with all required documentation, checklists, or any other required communication. Reviews loan files for compliance for 3rd party underwriting engagements as applicable. Educates and updates the team around secondary market updates and keeps abreast of

Requirements

Experience

Five years to eight years of similar or related experience, including preparatory experience.

Education/Certifications/Licenses

A college degree.

Interpersonal Skills

A significant level of trust, credibility and diplomacy is required. In-depth dialogue, conversations and explanations with customers, direct and indirect reports and outside vendors can be of a sensitive and/or highly confidential nature. Communications may involve motivating, influencing, educating and/or advising others on matters of significance. Typically includes subject matter experts as well as first level to middle managers.

Other Skills

Experience with Encompass LOS platform is required. Must be independent thinker and confident in decision-making, utilization of lending authority and follow through including adherence to all federal regulations and all FNMA underwriting guidelines and requirements in addition to SFCU Mortgage Loan Policy and Guidelines. Attention to detail. Analytical competency accessing LTV, DTI and debt capacity and utilization from Credit Bureau and other data sources. Independent follow through and management in overall underwriting performance with solid approval ratio and strong compliance adherence. Ability to perform audit and review of underwriting and packaging requirements for both saleable and portfolio loans.

Physical Requirements

Is able to bend, sit, and stand in order to perform primarily sedentary work with limited physical exertion and occasional lifting of up to 10 lbs. Must be capable of climbing / descending stairs in an emergency situation. Must be able to operate routine office equipment including computer terminals and keyboards, telephones, copiers, facsimiles, and calculators. Must be able to routinely perform work on computer for an average of 6-8 hours per day, when necessary. Must be able to work extended hours or travel off site whenever required or requested by management. Must be capable of regular, reliable and timely attendance.

Working Conditions

Must be able to routinely perform work indoors in climate-controlled shared work area with minimal noise.

Mental and/or Emotional Requirements

Must be able to perform job functions independently or with limited supervision and work effectively either on own or as part of a team. Must be able to read and carry out various written instructions and follow oral instructions. Must be able to complete basic mathematical calculations, spell accurately, and understand computer basics. Must be able to speak clearly and deliver information in a logical and understandable sequence. Must be capable of dealing calmly and professionally with numerous different personalities from diverse cultures at various levels within and outside of the organization and demonstrate highest levels of customer service and discretion when dealing with the public. Must be able to perform responsibilities with composure under the stress of deadlines / requirements for extreme accuracy and quality and/or fast pace. Must be able to effectively handle multiple, simultaneous, and changing priorities. Must be capable of exercising highest level of discretion on both internal and external confidential matters.

Benefits

Smart Financial Credit Union offers a competitive salary and excellent top-tier benefits. In addition, Smart Financial Credit Union has a tuition reimbursement program; full-time employees can receive up to $4,000 per year in tuition reimbursement.

Smart Financial Credit Union was ranked as Houston's Best Places to Work! Five consecutive years in a row!
Source: Houston Business Journal, 2011, 2012, 2013, 2014, and 2015.

Smart Financial Credit Union was ranked USA Top Workplaces (National Award)!
Source: Houston Chronicle - 2021

Smart Financial Credit Union was ranked Top Workplaces (Regional Award)! Five consecutive years in a row!
Source: Houston Chronicle - 2016, 2017, 2019, 2020, 2021, 2022 and 2023

Smart Financial Credit Union was also ranked as Best Companies to Work for in Texas! Four consecutive years in a row!
Source: Texas Association of Business (TAB) and Texas Monthly Magazine – 2014, 2015, 2016, and 2017

*** Applicants must submit a resume in order to be considered for the position.

Smart Financial does not discriminate on the basis of race, sex, color, religion, age, national origin, marital status, disability, veteran status, genetic information, sexual orientation, gender identity or any other reason prohibited by law in provision of employment opportunities and benefits.

Smart Financial Credit Union (SFCU) commits to fostering a diverse, equitable, and inclusive workforce and member base where a sense of belonging is evident. Our core values and purpose compel us to invest in our culture, with the objective that all who interact within and with the credit union can be appreciated for their unique individuality and thrive in the environment, with respect for each other and our greater community.

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