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Jobs at Municipal Credit Union


Location: New York, NY

Department: Mortgage Operations

Type: Full Time

Min. Experience: Experienced


•     Reviews the mortgage file after additional documentation has been received and underwrites the loan by reconciling income, appraisal value, credit history, or other discrepancies; determining the terms and conditions of the loan, and completing the work sheets for the file. 

•     Cross‑sells Credit Union services. 

•     Explains various accounts and certificates, interest and compounding rates, and other matters. 

•    Informs the member of the outcome of the preliminary financial analysis and, if acceptable,   indicates that the loan will require further processing before it can be approved or, if unacceptable   (below  established  criteria), explains the  alternatives, if any, to restructure  the loan and meet the lending criteria. 

•     Calculates truth‑in‑lending annual percentage rate, completes forms and sends to member. 

•     Forwards approved reports, employment certification, or appraisal reports. 

•     Interviews customers applying for residential mortgage loans, explaining the different financing and mortgage programs and their requirements available through the Credit Union and obtains pertinent financial and loan information from the member. 

•     Analyzes the member's financial posture to determine if it meets minimum loan criteria established by the Credit Union. 

•     Counsels mortgage loan delinquent customers, seeking solutions to financial problems. 

•     Underwrites appraisal request, citing problems and disputes values if necessary. 

•     Recommends exemptions on policy/procedures when applicable. 

•     Acts as a liaison between main office and branches regarding loan applications. 

•     Issues commitment papers, review surveys, title insurance, employment verifications, and so on. 

•     Has lending authority up to $417,000. 

•     Reconciles the closing statement and explains figures and charges to appropriate party. 

•     Requests additional documents, such as insurance papers and power of attorney as needed.

•     Reviews  funds  for  down payment and closing costs, issues receipts, explains  all  legal        documents to all parties, obtains  necessary  signatures,  and  distributes  all  closing          proceeds.

•     Review all denials with management. 

•     Reviews Title Searches for Homeowner's Equity Loans. 

•     Performs related duties as assigned.

•     Overtime as required.



•     College degree preferred. 

•     Minimum 3 years underwriting experience. 

•     A high level of interpersonal skills to conduct productive interview sessions with loan           applicants and to resolve any problems or discrepancies in data. 

•     A thorough understanding of the requirements and features of the loan program offered by     the Credit Union to provide related information to applicants. 

•     The analytical ability necessary to conduct a preliminary analysis of an applicant’s financial   posture and recommend alternatives in situations where the initial analysis revealed an          insufficient financial posture. 

•     Familiarity with Fanny Mae and Secondary Market Underwriting Experience. 

•     Knowledge of Market‑ must keep abreast of housing and economic trends to ensure safe and sound lending judgment. 

•     Complete knowledge and up keep of appraisal reports. 

•     Review of appraisals entails extensive analysis of ready data. 

•     Utilize judgment in loan decision determining when to recommend exceptions.

•     Proficiency in Microsoft for Windows Applications.



Municipal Credit Union (MCU) is an Equal Opportunity Employer.


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