POSITION SUMMARY:- Perform in-depth underwriting review of mortgage loan files for compliance with applicable State and Federal laws and adherence to specific lender guidelines to support mortgage productions and quality control.
- Ensure familiarity and compliance with the Bank's policies and procedures and governing laws and regulations.
ESSENTIAL FUNCTIONS:Review: (60%)- Examine loan documentation for accuracy and completeness.
- Analyze all required information and underwrite all portfolio and secondary market mortgage loan files for preliminary and final approval.
- Communicate corporate and investor guidelines and respond to customers, loan processors, and loan consultants in a timely and professional manner.
Knowledge: (25%)- Handle underwriting, quality control plans and reviews, data delivery and appraisal reviews.
- Underwrite residential mortgage loans in compliance with federal, state regulations and laws and secondary market guidelines.
- Maintain a sound knowledge of all regulatory compliance requirements, secondary market activity, practices, and business/industry practices as they impact underwriting quality and origination activity.
General (15%)- Familiarize and comply with all applicable Bank's policies and procedures as well as governing laws and regulations
- Performing all assigned duties under Bank's compliance programs and related laws & regulations.
- Successfully completing all mandatory training on related Bank's and BSA compliances as well as other laws and regulations as assigned in a timely manner.
OTHER RESPONSIBILITIES:- Train new Underwriter as well as other team members, such as Processors and Closer.
- Train and advise MLO in restricting their loan submission, to enhance the credit quality of the bank's portfolio.
- Perform timely response to all Audit and Examination findings.
- Perform other duties as assigned.
EDUCATION, EXPERIENCE AND SKILLS REQUIRED:- Bachelor's degree in Finance, Business Administration, Accounting, or other relevant Business fields is preferred.
- 3-5+ years of mortgage industry experience including underwriting.
- Mortgage underwriting experience in retail environment for conforming & conventional loan. (FHMA)
- Familiar with Desktop Underwriting and Condo Project Approval.
- Working knowledge of credit, finance, lending procedures and legal and audit regulations.
- Analytic, quantitative, interpersonal, verbal and written communication, and PC skills.
- Must be a demonstrated team player.
PHYSICAL DEMANDS:- Minimum mobility to work in an office setting; sit for prolonged period of times; operate office equipment including use of a computer keyboard; and reach with hands and arms. Employees are occasionally required to walk and stand and lift and move records and documents weighing 30 pounds or less.
COMMUNICATION DEMANDS:- Attention to detail, strong organizational, communication, interpersonal, self-motivated, and analytical skills, ability to interact with all levels of management and staff.
WORK ENVIRONMENT:- Standard office environment. Noise level in work environment is usually average. Hear in the normal audio range with or without correction. Specific vision abilities required by this job include close vision and the ability to adjust focus.
CompensationThe base pay range for this position is USD $70,000.00/Yr. - USD $95,000.00/Yr plus full benefits. Exact offer will be determined based on job-related knowledge, skills, experience, and location.
