The Residential Underwriter is responsible for credit decisions on incoming applicants consistent with internal and insurer policies, underwriting mortgage commitments, and verifying supporting documentation as submitted by Mortgage Loan Officers. Independently interprets underwriting guidelines and keeps necessary parties informed relative to changes and updates. Responds to inquiries to provide guidance and clarification. Reviews and underwrites loan applications to include: Conforming, Non-Conforming, Investor loans, and portfolio loans in accordance with guidelines and compliance standards. Reporting to the Senior Underwriter.
Essential Duties and Responsibilities:
• Underwrites individual mortgage products within company, investor and industry
• Mitigates Bank risk by conducting a thorough and prudent review of each loan
• Reviews financial statements, income documents, tax transcripts, credit report
and applicable ratios (i.e. DTI and LTV) to make an accurate and valid
• Determine borrower’s credit worthiness and ability to repay loan as agreed for
• Ensures loan related documents are consistent and uphold to company, investor
and industry guidelines.
• Evaluates and examines transactions to judge accuracy and completeness.
Investigates loan requests using fraud detection techniques.
• Executing an appraisal analysis to determine that acceptable collateral standards
are met, while completing the necessary research to determine federal, state and
• Accurately underwrite loans and review conditions received based upon the
criteria required for the submitted product type, while meeting established
productivity and turnaround time goals.
• Clear all conditions of loan and prepare file for closing department.
• Maintains a thorough knowledge of the Bank’s loan products and procedures.
• Communicates professionally and effectively with Loan Officers and Processors.
• Comply with all applicable laws, regulations and company policies as stated in
Bank’s Code of Conduct.
• Perform any other related duties as required or assigned.
• Associate’s degree or equivalent degree/certification in business or related field.
• Three to Five years of current underwriting experience.
• Background in financial institution operating policies and procedures, banking
regulations (state and federal); Knowledge of HMDA, RESPA, TIL, Fair Lending,
CRA, ECOA, Reg O and all Lending related Regulations required.
• Working knowledge of residential loan operations, systems afamiliarity with
Encompass preferred and documentation.
• Must be detail oriented, computer literate; possess strong organizational and
interpersonal skills, as well as verbal and written communication skills.
• Ability to interact within all levels of the Bank.
• Must be a team player. Employee must be able to relate to other people beyond
giving and receiving instructions: (a) can get along with co-workers or peers
without exhibiting behavioral extremes; (b) perform work activities requiring
negotiating, instructing, supervising, persuading or speaking with others; and
(c) respond appropriately to criticism from a supervisor.
• Ability to effectively communicate information and respond to questions in person
and small group situations with customers, vendors, and employees of the
Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions and expectations.
General Office environment. Light to moderate lifting of files and/or boxes when necessary.
These functions are subject to change and will be updated when necessary.