Underwriter - December 16, 2011
Underwriter will be responsible for the daily underwriting processes related to secured and unsecured consumer loans, as well as conventional, jumbo, FHA, and VA mortgages. Consumer decisions are typically on large or unsecured credits with underwriting exceptions and riskier credit decisions which fall outside the submitting lenders' approval authority. Perform credit approval and decline reviews within assigned approval limits and bank credit quality, production, and yield guidelines. Make independent credit approval decisions without use of a scored credit system on more complex consumer transactions requiring non-standard structuring or exceptions to established guidelines
Essential Duties
• Responsible for reviewing, approving, declining, or restructuring all types of secured/unsecured consumer or mortgage loan requests based on independent credit underwriting. Review collateral and issue appraisal conditions on all loans.
• Partner with Branch Managers, Private Bankers, and Personal Bankers to structure loan transactions which minimize risk and meet the bank’s credit quality goals, as well as the customer’s needs and ability to repay, while ensuring appropriate pricing to meet ROE and production goals
• Responsible for participating in the post-closing insuring and guaranty process for government loans.
• Assist lenders in the completion of more complex consumer transactions and tax analysis for self employed consumers.
• Develop and conduct necessary analysis, underwriting, and product training for consumer lenders. Promote the potential cross-sell of additional products and services by identifying needs and opportunities on submitted applications.
• Responsible for directing the ACE program. Perform and report on follow-up audits of selected random samples of files after certification.
• Responsible for ensuring all regulatory guidelines are followed through application and approval or decline of all processed loans. Provide thorough second reviews of declined and withdrawn loans ensuring compliance with the bank’s Fair Lending Policy. Prepare ECOA notices.
• Responsible for acting as a resource for regulatory questions from employees. Update department policies and procedures based on applicable laws and regulations. Conduct assessments for Compliance or internal audit departments.
Education
High School Diploma or GED required.
Bachelor's Degree in Business, Finance, Accounting, or other related area preferred.
FHA Chums designation required.
VA LAPP appraisal reviewer designation required.
Skills and Knowledge:
3 - 5 years of FHA, VA, or conventional mortgage origination/lending or consumer lending/underwriting experience required.
• Advanced knowledge of mortgage/consumer lending documentation and related compliance/regulatory laws. Knowledge of investor-specific requirements.
• Knowledge of bank consumer loan products, policies, services, and rates.
• Possess excellent written and verbal communication skills.
• Proven analytical skills for making sound credit decisions and completing complex tax analysis. Strong organizational, time management and customer service skills required.
• Ability to produce accurate, timely results in a stressful, deadline driven and goal oriented environment with minimal supervision.
• Experience with FHLMC Loan Prospector/FNMA Desktop Underwriter and BISYS preferred. Proficient in word processing and spreadsheet software (Word and Excel preferred).
Office Environment – no specific or unusual physical demands.
No recruiters, agencies, third-party agents, or consultants, please- only direct applications from candidates. All other inquiries must be directed to the Human Resources Department at (509) 458-2711. |
