Working at MIT offers opportunities, an environment, a culture - and benefits - that just aren't found together anywhere else. If you're curious, motivated, want to be part of a unique community, and help shape the future - then take a look at this opportunity.
Information on MIT's COVID-19 vaccination requirement can be found at the bottom of this posting.
MORTGAGE LOAN UNDERWRITER , MIT Federal Credit Union (MITFCU) , to make quality mortgage loan decisions according to MITFCU mortgage policies/practices/procedures. Will stay abreast of mortgage guidelines and regulations and make sound credit decisions within lending authority within MITFCU policy and mortgage insurance companies and secondary market guidelines. Duties include reviewing, examining, and underwriting loans to ensure soundness, business value, and compliance with MITFCU and investor guidelines; assessing loan attributes and documentation for soundness and accuracy; reviewing and evaluating data to determine loan viability and identifying risk issues and potential fraud, misrepresentation, and red flags; determining and documenting loan conditions and communicating requirements/decisions; assisting with identifying, recommending, and/or negotiating alternative loan requirements, funding, and/or loan structure solutions; coaching processors, junior underwriters, and loan originators on technical underwriting issues, problems, and/or questions; exercising discretion and independent judgment in addressing critical business matters; responding to quality control and audit reports; prioritizing loan caseload to meet various deadlines for lock expirations, doc expirations, mortgage contingency dates, closing dates, or investors' guideline changes; and identifying and making recommendations to mortgage processor and mortgage originator regarding process improvements, quality service, and increased efficiencies within the processing unit.
Job Requirements REQUIRED : bachelor's degree in business, banking, finance, accounting, or related field; at least three years' experience as a loan underwriter; familiarity with loan origination and/or processing; familiarity with all regulatory guidelines to ensure compliance; working knowledge of and ability to implement TRID, HOEPA, ECOA, HMDA, RESPA, Flood, FNMA, FHLMC, BSA, OFAC, and other investor policies/ procedures; ability to maintain confidentiality; excellent communication skills; ability to multitask and organize priorities; meticulous attention to detail; and high-level computer literacy. Job #19994-8
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