Retail Lending Underwriter III

Job Description Summary
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.

• 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.

• Ensure loans meet applicable agency, Bank and regulatory requirements as it relates to documentation and disclosures.
• Prepares the mortgage and consumer file with all needed documentation and services from internal systems and income/asset vendor providers.
• Completes all required initial regulatory documentation and electronically sends to the customer(s).
• Completes clerical work for the underwriting department including but not limited to pre-qualification denials, withdrawn, reporting, etc.
• Document any discrepancies, missing information, etc. for the underwriting team preventing duplication of review and/or errors.
• Proficient at running, reading and interpreting fraud results in order to clear the conditions or alert the underwriter of the issues.
• Complete all required inputs to Encompass and ACTion as well as any ancillary systems.
• Review all documents to ensure they are needed and park in the appropriate area.
• Process Consumer Employee Benefit Loans that are approved through our Human Resources Department.
• Keep informed of current and acceptable practices via All Regs and Investor bulletins and websites.
• Consistently meet or exceed established minimum productivity and quality goals.
• Works with management in creating efficiencies, developing new ideas and making the department more effective.

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.

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

• Approve or reject loans within prescribed authority. Prepares presentations for Senior Management and Management Loan Committee for loans that exceed the approving parties lending authority; and prepares and recommends exceptions to Senior Management, as necessary.
• Ensure loans meet applicable agency, Bank and regulatory requirements.
• Analyze borrower’s credit profile, collateral and capacity to repay the proposed obligation and accurately calculate borrower’s income and debt-to-income ratios.
• Document lending decisions and complete required screens in the loan origination system that include accurate completion of the underwriting documents as well as adding and/or creating applicable conditions on the loan approval.
• Proficient at running, reading and interpreting automated underwriting decision results from Loan Prospector, Desktop Underwriter and ACTion.
• Review and sign off on submitted conditions where appropriate.
• Communicate loan…