You might be asking yourself why you should consider working at Amplify rather than staying with your current mortgage company. Here are some of the top reasons:
- Friendly, collaborative environment - If you are tired of the cut-throat nature of the mortgage world, Amplify offers what some have called "mortgage heaven"
- Work/Life balance - Yes, it can exist! If you are regularly racking up 60+ hours a week and wish you weren't, we can help you with that
- Flexibility - The work needs to get done and we all know that, but Amplify gives you the flexibility to check out early if you need to and then log in later
- Great benefits - We offer a rich benefit package that includes things like tuition reimbursement, 401(k), profit sharing, and more (yes, medical and dental insurance, too)
If you have the qualifications for this role, why not take a chance and apply? Come see what mortgage heaven is all about!
This position is eligible to work on a remote basis 100% of the time.
The role of the Sr. Underwriter is to analyze, assess and decision mortgage loans for Amplify Real Estate Lending in accordance with Amplify lending guidelines, secondary market guidelines, state and federal regulations. The incumbent must stay abreast of internal lending policies, practices, guidelines, lending systems and products, as well as external regulatory and economic environments.
The role is responsible for the review of all loan documentation to ensure accuracy, completeness and compliance with internal, regulatory, mortgage insurance and investor guidelines in order to decision in a timely, accurate manner. Develops sound working relationships with the Real Estate Production team to ensure accurate and timely decisions are made and communicated effectively to support a quality member service experience.
- Acts as the subject matter expert in the area of determining credit and collateral risk; provides support and general direction to underwriters within authority prescribed by management
- Supports and assists the AVP Real Estate Operations and VP Real Estate Lending in ensuring established performance and customer service goals are met by monitoring and facilitating daily workflow of underwriting activities; accountable for meeting established decision time parameters
- Conducts problem resolution for non-routine underwriting issues; reviews exceptions from policy, guidelines and procedures to render appropriate decisions within prescribed limits and communicates the course of action and reasoning behind it, notating file and systems as required
- Renders decisions on recommended loan approvals that exceed Underwriting Authority level of peers and forwards to AVP Real Estate Operations those that exceed authority level
- Reviews and underwrites processed loan files to determine applicant's financial status and to evaluate credit and property eligibility
- Approves or denies real estate loans within his/her authority in accordance with FNMA, Private Mortgage Insurance and internal Credit Union guidelines to ensure compliance with Amplify and Investor standards
- Performs mortgage credit analysis, with or without the assistance of an automated underwriting system, to determine borrower's willingness and ability to repay the loan to include verifying the member's ability to repay through analysis of credit, loan ratios, documented income and assets, and collateral; evaluates risk to ensure a prudent decision is made
- Performs all income analysis for qualifying buyers to include self-employed borrowers
- Reviews and signs off on conditions as needed per loan approval
- Reviews and approves appraisals and property evaluations within guidelines
- Maintains commanding knowledge of regulatory compliance, trends and methodologies affecting all loan products
- Professionally and clearly communicates the credit decision and underwriting conditions to the Loan Originator and Loan Processor and works with them to resolve issues
- Assists secondary marketing in resolving eligibility issues related to the purchase of loans by a secondary market investor
- Supports Collections and Loss Mitigation efforts with credit and collateral analysis functions
- Supports and assists in gathering dashboard metrics on a monthly and quarterly basis
- Completes product activity reports and provides trend analysis and assessment of product utilization by loan type to AVP Real Estate Operations bi-annually, including exception activity
- Completes Appraisal and Property Evaluation activity reports and provides trend analysis and assessment of collateral valuation methods to AVP Real Estate Operations quarterly, including exception activity
- Analyzes underwriting and documentation on all Early Payment Defaults, Bankruptcies or Repossessions within 12 months of occurrence for learning purposes; completes report of findings to AVP Real Estate Operations monthly
- Provides training of Real Estate staff and external stakeholders on underwriting policies, guidelines and procedures, ensuring consistency, quality, and value; Develops, monitors, and continuously improves Real Estate training materials
- Continually enhances product knowledge with respect to credit union, mortgage insurance, and secondary market guidelines through regular attendance of internal and external educational learning seminars and webinars
- Stays up-to-date on Fannie Mae's Desktop Underwriter - DU© guidelines and seller, servicer guidelines
- Consults with internal compliance officers and external resources regarding real estate industry lending practices and their impact on compliance regulations, including but not limited to Fair Lending, Reg B (ECOA), Reg C (HMDA), Reg Z (TIL), Reg X, RESPA, and FCRA, MDIA
This is a salaried position. Pay is commensurate with experience.
Amplify offers full time employees many benefits, including: subsidized medical/dental/vision insurance effective on the first of the month following date of hire, 401(k) plan with matching contributions, profit sharing, paid time off, paid time off to volunteer in the community, paid holidays, tuition reimbursement, opportunities for advancement, and a friendly, open work environment.
To learn more about our benefits, click here.
Team Member Testimonials
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To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Education and/or Experience
High school diploma or GED. Bachelor's degree in business or related field preferred. Minimum of 7 years of mortgage lending experience and/or training including a minimum of 5 years of mortgage underwriting experience including conventional underwriting; or equivalent combination of education and experience. If education is being substituted for experience, emphasis on business finance, mortgage lending, and/or real estate courses required. FHA and VA underwriting experience including DE and LAPP designations a plus.
Certificates, Licenses, Registrations
Must be bondable by a credit union.
Software & Equipment Requirements
To perform this job successfully, an individual should have knowledge and be efficient with the use of a personal computer, Microsoft Office products, Credit Bureau Systems and financial calculators. Must be proficient in Fannie Mae's Desktop Underwriter DU®. Knowledge of Encompass is a plus. Ability to learn and train others in the use of specialized mortgage lending software will be required.
Must have excellent judgment skills to make quick decisions within written policy and standard operating procedures. Working knowledge of credit union's products and services, policies, and the Federal Credit Union Act including bylaws and regulations that apply to federally chartered credit unions is required. Comprehensive understanding of income tax documentation including but not limited to sole proprietorships, S-Corps, C-Corps, partnerships and Limited Liability Corporations. Ability to understand and make recommended changes to Standard Operating Procedures and familiarity with state and federal NCUA regulations required. Additional regulations applicant should understand include, but are not limited to: HMDA, Regulation Z, Regulation B, the FHLMC, FNMA, FHA rules and processes. Must have knowledge of sales of mortgage loans into secondary market. Must have experience with Desktop Underwriter and/or Loan Prospector underwriting systems and packaging of conforming loan standards.
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