Job details

Sr. Mortgage Loan Underwriter (Remote, WA State Only)

As the nation's largest community credit union, we begin every day focused on delivering superior financial products and services for our 1.3 million members and more than $30 billion in managed assets. Our work has an economic impact as we support our members' financial goals. We are unapologetic about being devoted to our members and the communities we serve. Our business is guided by our people helping people philosophy – which includes our team members.

BECU has been in business for more than 85 years, driven by unwavering core values and a dedication to improving the communities we serve. While we have a rich history, the future of our company, accelerated by business and technology transformation, is even brighter. There's never been a better time to work for BECU.

To learn more visit becu.org/careers.

PAY RANGE

The Target Pay Range for this position is $42.79-$52.31 hourly. The full Pay Range is $33.22-$61.88 hourly. At BECU, compensation decisions are determined using factors such as relevant job-related skills, experience, and education or training. Should an offer for employment be made, we will consider individual qualifications. In addition to your salary, compensation incentives are available for the hired applicant. Incentives are performance based and targets vary by role.

BENEFITS

Employees and their eligible family members have access to a wide array of employee benefits, such as medical, dental, vision and life insurance coverage. Employees have access to disability and AD&D insurance. We also offer health care and dependent care flexible spending accounts, as well as health savings accounts, to eligible employees. Employees are able to enroll in our company’s 401k plan and employer-funded retirement plan. Newly hired employees accrue 6.16 hours of paid time off (PTO) on a per pay period basis based on hours worked (up to a maximum of 160 PTO hours per year) and receive ten paid holidays throughout the calendar year. Additional details regarding BECU Benefits can be found

here

SUMMARY

The Sr. Mortgage Loan Underwriter is responsible for making consistent quality loan decisions on conventional, FHA/VA and special mortgage loan programs in accordance with the underwriting standards established by the investor while maintaining the safety of member assets. This person will be member focused and offer alternative solutions to meet underwriting standards. This person will have the ability to follow the agency, investor, and BECU guidelines in determining the member's ability and willingness to repay the debt and in determining the property's adequacy as security for the mortgage. This person will have loan approval authority at the Senior Officer Level.

***This role can be hired in Washington state only.

RESPONSIBILITIES

Perform all responsibilities in accordance with BECU Competencies, compliance, regulatory and Information Protection requirements.
Perform prudent underwriting on all conventional, FHA/VA, and special loans as offered by the Credit Union.
Complete thorough analysis of loan files to determine compliance with investor, FHA/VA, and BECU guidelines. Develop counteroffers and offer alternative solutions to meet members’ needs while maintaining underwriting standards.
Evaluate the entire credit package and collateral for residential mortgage loans and ultimately ensure an "investment" quality loan product.
Confirm accuracy of all income, loan-to-value, and other calculations.
Recommend the loan disposition to the Underwriting Manager, Mortgage Credit Administration if the loan amount exceeds the authorized lending authority.
Communicate underwriting decision (in written form) to the submitting processor.
Maintain underwriting activity logs.
Work with Mortgage Loan Origination staff, Processors and co-workers as a team member in analyzing and solving situations that may arise in the mortgage loan origination process. Be available to Loan Origination staff, Processors, LQI and Hotline Team for general guideline interpretations and questions on specific loan files.
Handle customer service calls from Loan Processor and/or Loan Officers to explain transaction and find ways of restructuring the deal to meet needs of CU and member.
Assist in training underwriters, processors, and loan representatives.
Clear property and credit conditions placed on the loan, as required.
Maintain current knowledge of all mortgage lending guidelines, new policies or modifications to the guidelines and standards of BECU, federal housing programs, veterans administration, investors, and private mortgage insurers.
Have a general knowledge of all Credit Union departments and how they interact with the Mortgage Loan Origination department.
Have a thorough knowledge of all mortgage loans offered by the Credit Union, including forms and documentation for each type of loan.
Be familiar with all federal and state regulations governing credit union lending, with particular emphasis on rules and regulations governing real property lending on first- mortgage loans.
Participate in the development of new products and services.
Ensure that written procedures are documented for all functions within area of responsibility, and update as necessary, to provide staff with instruction and guidelines for daily operations.
Perform additional duties, as assigned.

QUALIFICATIONS

B.A. or B.S. degree in business or equivalent education or work experience required.
Minimum of five years of underwriting experience required.
Experience in a leadership role required. Experience in goal setting and teambuilding preferred.
FHA DE or VA SAR designation required, both designations preferred.
Proficient mathematical skills, with a high degree of accuracy.
Ability to perform complex income analysis.
Strong analytical skills with the ability to analyze complex tax returns, including corporate, partnerships, and sub-s corporations.
Ability to perform under pressure in a team environment.
Effective leadership & negotiation skills.
Proficient verbal and written skills to effectively communicate.
Ability to perform in a multi-tasked environment, with ability to prioritize tasks.
Ability to work in high production, deadline oriented environment.
Ability to adapt to change within working responsibilities, be it internal, market, or regulatory driven.
Mobility and flexible movement including bending and lifting up to 25 pounds.
Full-time hours required, with additional hours as necessary.

EEO Statement:

BECU is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, veteran status, disability, sexual orientation, gender identity, or any other protected status.