Mortgage Underwriter I /II

Position summary

Mortgage Underwriter I is an intermediate mortgage loan underwriter who reviews and recommends action regarding credit, property, and legal documentation. It is distinguished from a Mortgage Underwriter II, who represents an experienced mortgage loan underwriter who reviews and recommends action regarding credit, property, and legal documentation.  Both positions also require other responsibilities, such as being responsible for the audit of loan files from our lending partners, maintaining familiarity with and up to revising the Seller’s Guide.  This position must be familiar with AHFC's guidelines, and policies regarding loan qualification.

Reports to: Mortgage Underwriting Manager

SUPERVISION RECEIVED AND EXERCISED:  Non-exempt, non-supervisory position.

Overview

A Mortgage Underwriter I focuses on residential mortgage lending and reports to the Underwriting Manager. Working with limited supervision, it involves making loan decisions, performing routine underwriting, and completing special projects as assigned.  Additional responsibilities include attending industry events, and building relationships with lending partners.  This role is classified as an intermediate underwriter within the Mortgage Department.

A Mortgage Underwriter II also focuses on residential mortgage lending and reports to the Underwriting Manager. Working with limited supervision, it involves making complex loan decisions, performing routine underwriting, and completing special projects as assigned.  In addition to responsibilities mentioned above, an Underwriter II's responsibilities could include assisting in maintaining AHFC mortgage guides, web page and forms, reviewing program brochures for accuracy, coordinating updates and expansion of the organization’s outreach.  This role is classified as a skilled, proficient, and experienced underwriter within the Mortgage Department.

Examples of duties

Mortgage Underwriter I & II:

• Reviews loan submission requests, including credit and appraisal analysis of collateral offered. Determines acceptance or denial of the loan requests based on AHFC criteria.
• Reviews the documentation of loans submitted for purchase and recommends acceptance or denial of the loans based on AHFC criteria.
• Attends meetings of various organizations to inform lenders and the public about the types of loans available, eligibility requirements, application procedures, and the types of security required.
• Handles heavy telephone communication with lenders and the public to answer general and specific program and underwriting questions.
• Performs such responsibilities as auditing loan files, and furthering their understanding of AHFC's guidelines and restrictions.
• Represent AHFC at home and trade shows.
• Develop, implement, and maintain statewide outreach to advocate and promote AHFC’s various lending programs.
• Performs other duties as required.

Mortgage Underwriter II (in addition to the above):

• Represents the Corporation at various education seminars.
• Reviews recommendations, reports and correspondence and assists with program development, as requested.
• Trains personnel in various aspects of underwriting, as required.
• Special projects could include assisting in maintaining AHFC mortgage guides, web page and forms, assisting in preparing and reviewing seller/servicer memos; assisting in the reviewing of new or revised loan programs, maintaining file logs, and/or being a point of contact for software and other applications, maintaining specific logs and databases.
• Performs other duties and special projects as required.

Knowledge, Skills, and Abilities

Knowledge of: Mortgage lending, especially credit, appraisal, and purchase underwriting; Alaska property values and trends; statutes, regulations, and rules related to AHFC; secondary market investor/insurer requirements; departmental policies on handling loans.

Skills and abilities: Advanced user of Microsoft applications with experience working with desktop and web publishing programs such as Adobe Acrobat. Ability to: Handle routine duties with little or no supervision. Work independently and possess excellent written and verbal communication skills.

Minimum qualifications:

Mortgage Underwriter I: A bachelor’s degree from an accredited college in business, finance, banking, economics, or a closely related field, and two or more years of mortgage lending experience. 

Mortgage Underwriter II: A bachelor’s degree from an accredited college in business, finance, banking, economics, or a closely related field, and four or more years of mortgage lending experience.

Experience for both positions must include a combination of the following on a year-to-year basis:

1. Mortgage underwriting
2. Mortgage loan applicant interviewing
3. Recommending mortgage loan programs
4. Mortgage loan processing and recommending action on loans
5. Mortgage loan closing
6. Mortgage loan servicing
7. Mortgage loan auditing

Substitution:  Appropriate work experience (in the above categories) may be substituted for the required education on a year-for-year basis.