Retail Lending Underwriter; Level

Underwriting Position

Pay Range: $73,981 - $101,895 (Annually)

Function:
Working under the direction and guidelines established by the Underwriting Manager(s), underwrites residential mortgage and consumer applications to secondary market/investor requirements, Bank policy and procedures as well as all mortgage and consumer regulations. Reviews and analyzes all relevant data and documentation to determine overall risk profile in order to make solid credit decisions.

Underwriter I Accountabilities:

• Perform a detailed review of the residential mortgage and consumer loan application and documentation as submitted to determine services, disclosures and actions needed to prepare for the processing and underwriting.
• The detailed review will entail analyzing all documentation, notes, product descriptions, loan profile including but not limited to credit reports, income and asset documentation, HMDA information, collateral, fraud prevention tools and other applicable documentation as required.
• Register applicable loans with Federal Housing Administration or Veteran Administration.
• Assign credit, income and property documents in the proper folder.
• Responsible for effectively communicating and documenting the loan files with any missing information and questionable findings.
• Make Consumer Credit Decisions within set limits and communicate results to the Lending Officer.
• Develop and maintain knowledge of multiple loan product guidelines.
• Serves as a subject matter expert and back-up for mortgage and consumer analysts and administrative functions in Operations.

Underwriter II In addition to the Accountabilities detailed in an Underwriter I the following will be included for an Underwriter II:

• Perform underwriting of Conventional and Portfolio loans including a detailed review of the residential mortgage and consumer loan application and documentation as submitted to ensure loans meet underwriting guidelines.
• The detailed review will entail analyzing all documentation including but not limited to credit reports, income and asset documentation, collateral, HMDA information, fraud prevention tools and other applicable documentation as required to render a loan decision ensuring completeness, accuracy and compliance.
• Responsible for effectively communicating all lending decisions to appropriate parties.
• Develop and maintain knowledge of multiple loan product guidelines for quick and accurate answers.
• Provide technical experience and quality assurance on loan approvals.
• Rework loans to offer new terms, identifying any additional conditions as needed to insure a viable credit decision.

Underwriter III In addition to the Accountabilities detailed in an Underwriter II the following will be included for an Underwriter III:

• Perform underwriting of Construction, Jumbo, FHA, VA, USDA and/or State Housing including a detailed review of the residential mortgage loan application and documentation as submitted to ensure loans meet underwriting guidelines.
• The detailed review will entail analyzing all documentation including but not limited to credit reports, income and asset documentation, collateral, fraud prevention tools and other applicable documentation as required to render a loan decision ensuring completeness, accuracy and compliance.
• Accurately qualify borrowers with complex income structures:
  Partnerships, S-Corps, C-Corps, Capital Gains, Dividend/Interest, Rental income, etc.
• Works to assist Mortgage/Consumer Operations Leadership to document and implement new processes.
• Responsible for the training of new underwriters as well as conducting reviews of their work to recommend loan authority.
• Mentor Loan Officers in delivering excellence in the loan experience.

Competencies:

• Adaptability/Flexibility – Adapts to change, is open to new ideas, takes on new challenges, handles pressure, adjusts plans to meet changing needs
• Initiative – Takes independent action, operates as a pro-active self starter, acts on opportunities, practices self development
• Integrity/Ethics – Deals with others in a straightforward, honest manner, is accountable for actions, maintains confidentiality, supports company values, conveys news good or bad
• Interpersonal…