6+ years of experience preferred in mortgage underwriting
Bachelor's degree with 2+ years of related experience or equivalent combination
FHA DE designation required; VA LAP designation preferred
Strong understanding of regulatory and legal guidelines
Proficient in evaluating credit history and loan documentation
Responsibilities
Underwrite various loan types including FHA, VA, and portfolio loans
Ensure appraisals meet investor and bank standards
Review employment, income, and asset documentation for accuracy
Assess credit history to meet investor requirements
Identify potential fraud or misrepresentation in loan documents
Evaluate loan conditions against establishment and government standards
Communicate approval requirements and file status to relevant parties
Benefits
Opportunity for professional growth in a dynamic environment
Access to ongoing training and development programs
Collaborative team culture with a focus on excellence
Flexible work arrangements may be available
Supportive management that values employee input
Full Job Description
JOB FUNCTION / SUMMARY:
The Senior Mortgage Underwriter approves or denies mortgage loans; reviews mortgage loan applications for completeness to ensure that it meets the guidelines for loan product requested and ensures file complies with regulatory and legal guidelines.
ESSENTIAL DUTIES & RESPONSIBILITIES:
Underwrites conventional Federal Housing Authority (FHA), Veterans Affairs (VA), Rural Housing Development (RD), and portfolio loans.
Ensures that appraisals meet investor and bank requirements and that the value conclusion is reasonable and well supported.
Reviews all employment, income, and asset documentation to ensure that it is accurate and satisfies investor requirements.
Reviews credit history and scores to ensure the borrower's credit meets the investor requirements.
Reviews all documents and information for potential fraud or misrepresentation and for regulatory compliance.
Reviews and evaluates information on mortgage loan documents to determine if buyer, property, and loan conditions meet establishment and government standards.
Evaluates acceptability of loan to corporations that buy real estate loans on secondary mortgage markets, where existing mortgages are bought and sold by investors.
Approves or rejects loan application, or requests additional information.
Records loan rejections, specifying investor and institution guidelines and basis for declining application, such as insufficient cash reserves.
Determines terms and acceptability of risk of prospective business.
Sets prices for prospective mortgage loan applicants.
Approves or rejects loan application, or requests additional information.
Assembles documents in loan files, including acceptance or denial, and returns files to originating mortgage loan office. Maintains database on new and existing business.
Manages and utilizes systems to ensure they accurately reflect the loan request and information (current loan origination system and other investor conduit systems, etc.).
Communicates and coordinates necessary approval requirements and files status with appropriate persons (originator, processor, closers, Realtors, builders, etc.).
Participates in implementing second review committee for denied loans.
Bachelor's degree and 2+ years related experience and/or equivalent combination of education and experience
Certificates, Licenses, Registrations:
An FHA DE designation is required and a VA LAP designation is preferred.
ESSENTIAL MENTAL & PHYSICAL REQUIREMENTS:
Ability to travel if required to perform the essential job functions.
Ability to work under stress and meet deadlines.
Ability to operate related equipment to perform the essential job functions.
Ability to read and interpret a document if required to perform the essential job functions.
Ability to lift/move/carry approximately 10 pounds if required to perform the essential job functions. If the employee is unable to lift/move/carry this weight and can be accommodated without causing the department/division an "undue hardship" then the employee must be accommodated; hence omitting lifting/moving/carrying as a physical requirement.
About Hancock Whitney Corporation
Hancock Whitney Corporation is a bank holding company headquartered in Gulfport, Mississippi. It operates 237 branches in Mississippi, Alabama, Florida, Louisiana, and Texas. The bank offers a range of services, including personal and business banking, wealth management, and insurance. Hancock Whitney Corporation was founded in 1899 as Hancock Bank and has grown through a series of mergers and acquisitions. The bank has a strong commitment to community involvement and has been recognized for its philanthropic efforts.
