Secondary Market Loan Processor​/Underwriter

Classification: Non-Exempt/Hourly

Job Type: Full-Time

Location: Collinsville Loan Processing

717 Vandalia St., Collinsville, IL 62234

Reports To: Secondary Market Supervisor

ABOUT US:

FCB Banks has been family owned and managed for more than three generations. Our original banks opened in New Baden and Albers in 1901 and customers quickly associated FCB with quality service, competitive rates, and personal customer care. These qualities became the pillars of our business when First Collinsville Bank opened in 1990 and we began expanding throughout the area. We streamlined and simplified banking operations and officially changed our name to FCB Banks in 2017.

Today we have seventeen locations in sixteen wonderful towns serving customers in Illinois and Missouri. We pride ourselves on being locally owned and operated as well as a valued part of the community. Since 1901 our goal at FCB Banks has always been to provide exceptional service to our valued customers.

JOB SUMMARY:

The Secondary Market Loan Processor/Underwriter is responsible for the comprehensive processing and underwriting of mortgage loans to ensure compliance with agency guidelines, investor requirements, federal regulations, and internal credit standards. This role supports secondary market operations by ensuring loan quality, loan salability, and accurate documentation ahead of investor delivery. The Secondary Market Loan Processor/Underwriter exercises independent judgment on loan decisions and provides guidance to operational staff regarding processing and underwriting requirements.

ESSENTIAL

JOB DUTIES:

• Processing and Underwriting Functions:
  • Process and/or underwrite and render credit decisions on mortgage loans in accordance with secondary market investor guidelines.
  • Review and analyze borrower credit reports, income documentation, asset statements, tax returns, property appraisals, and other required documents.
  • Evaluate AUS findings (DU/LP) and apply applicable documentation requirements and overlays.
  • Perform manual underwriting when required, demonstrating full knowledge of compensating factors and risk layering.
  • Issue clear, concise loan conditions and ensure proper documentation is maintained to support all credit decisions.
• Secondary Market Support:
  • Confirm that processed and underwritten loans meet investor salability requirements prior to file delivery.
  • Assist with clearing underwriting-related conditions required by investors post-closing.
  • Support secondary market staff with guideline interpretation, investor overlays, and loan file quality reviews.
  • Participate in resolving investor purchase suspensions or conditions.
• Compliance & File Quality:
  • Ensure processing and/or underwriting practices adhere to ATR/QM requirements, TRID, RESPA, ECOA, HMDA, and internal policies.
  • Review QC findings, assist with responses, and identify corrective action steps when necessary.
  • Verify the accuracy and completeness of loan files to support audit readiness and investor acceptance.
• Operational Support:
  • Collaborate with processing and closing staff to address documentation deficiencies and facilitate timely loan movement through the pipeline.
  • Provide guidance on complex loan scenarios, documentation standards, and guideline interpretation.
  • Communicate professionally and effectively with loan officers and operational teams regarding processing and/or underwriting decisions and requirements.
• Leadership & Knowledge:
  • Assist with training or mentoring of junior secondary loan teammates as needed.
  • Participate in workflow improvement discussions and contribute to process refinement.
  • Maintain up-to-date knowledge of changes to agency guidelines, investor requirements, and regulatory standards.
• Performs other tasks or functions as assigned by bank management.

TECHNICAL SKILLS NEEDED:

• Demonstrated competency in processing and/or underwriting loans using DU/LP
• Strong understanding of agency guidelines, credit risk principles, and collateral evaluation
• Proficiency in analyzing income for varying employment types, including self-employed borrowers
• Excellent communication skills - verbal, written and listening.
• High quality writing skills - uses accurate word usage, grammar,…