Job Description

The Mortgage Loan Underwriter is responsible for evaluating and underwriting residential mortgage loan applications in accordance with the Bank’s established policies and procedures. This role independently assesses borrower risk, renders underwriting decisions within delegated lending authority and ensures loan files are complete, accurate, and well documented to support safe and responsible lending.

Responsibilities

• Review and evaluate residential mortgage loan applications to determine eligibility, appropriate funding sources and applicable loan programs.
• Perform comprehensive analyses of borrower income for all borrower types, including review of complex tax returns and financial statements, completion of required income calculation worksheets, and evaluation of multiple and varied sources of funds.
• Establish borrower creditworthiness through analysis of credit, capacity and collateral.
• Review loan packages for accuracy and completeness, and request additional documentation or clarification as needed.
• Partner with Mortgage Loan Originators (“MLOs”) and loan processors to resolve documentation issues, clarify underwriting conditions, and facilitate timely underwriting decisions, escalating matters to a supervisor when necessary.
• Evaluate risk related to borrowers, collateral and transaction structure.
• Provide final underwriting approval for mortgage loans including leaseholds, construction loans, non-owner-occupied properties, condominiums, mortgage insurance secured loans, and other higher risk loans.
• Ensure all loans meet internal policies, regulatory requirements, agency guidelines and investor standards.
• Maintain current knowledge of agency, regulatory and investor underwriting guidelines.
• Thoroughly interpret and apply underwriting standards to ensure compliance with all applicable requirements.

Qualifications

• High school diploma or equivalent required; bachelor's degree preferred.
• Minimum of three years of experience in the mortgage industry required.
• Experience underwriting conventional loan products preferred.
• Strong working knowledge of real estate documentation, underwriting policies, compliance standards and procedures.
• Working knowledge of federal and state regulations and requirements.
• Proficiency with mortgage loan processing and underwriting systems, such as Encompass, Desktop Originator and Loan Prospector; experience with all three applications preferred.
• Proficiency in Microsoft Office applications.
• Strong analytical skills and meticulous attention to detail.
• Excellent written and verbal communication skills.

WORKING CONDITIONS:

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Regular attendance and punctuality are essential functions of every job. Reasonable accommodations may be made to enable qualified individuals with disabilities to perform essential functions.

Perform routine and typical tasks of an office such as typing, taking notes, reading/reviewing, computer work, filing, copying, answering phones, etc. that may require employee to view, stand, stoop, kneel, or crouch and lift.

The successful candidate will be required to prove on the first day of work that they are legally authorized to work in the U.S. The Bank will not sponsor a candidate for a visa or for work authorization.

COMPENSATION: $75,000 TO $105,000