Residential Underwriter

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Residential Full-Time Exempt Miami, FL, US

2 days ago Requisition

Summary of Position

The Residential Underwriter is responsible for evaluating, analyzing, and assessing consumer mortgage loan applications to determine creditworthiness and approve loans in accordance with Banesco USA’s residential lending guidelines. Operating in a manual underwriting environment, this newly created role requires a "complex solutions solver" who can think outside the box to structure residential portfolio loans. The Underwriter plays a critical role in supporting the Residential Lending Credit unit and the Sales team, rendering sound credit decisions, conducting thorough appraisal reviews, and proactively managing internal stakeholder relationships to ensure a smooth, compliant, and efficient lending process.

Essential Functions and Duties

• Review and manually analyze complete residential credit packages, including borrower credit profiles, income documentation, complex personal/business tax returns, and asset statements to evaluate the willingness and ability to repay.
• Perform comprehensive reviews of property appraisals and act as a subject matter expert for appraisal evaluations, collateral risk, and complex property scenarios.
• Manually underwrite and approve residential portfolio loans including domestic, foreign national, and niche products without reliance on automated underwriting systems (AUS).
• Utilize the Encompass Loan Origination System (LOS) to confidently navigate loan files, apply underwriting guidelines, and structure wholesale and retail lending scenarios.
• Collaborate closely and manage relationships with primary stakeholders, including the Sales team, Loan Officers, Processors, and Credit Leadership, offering out-of-the-box solutions to complex loan scenarios.
• Render sound credit decisions (approval, counteroffer, suspension, or denial) and clearly document underwriting conditions and approvals within regulatory timelines.
• Ensure complete compliance with federal and state banking regulations, including ATR/QM, TRID, HMDA, ECOA, and Florida Homestead requirements.
• Maintain open lines of communication with the sales team to educate them on credit guidelines and help pipeline momentum.
• Responsible for completing annual training program assigned.
• Performs other functions and/or duties as assigned.

Qualifications Requirements

• Education:
  
  High School Diploma or equivalent experience required. (Bachelor’s degree in Finance, Business, or related field is a plus).
• Experience:
  
  Minimum of two (2) years of direct experience in residential mortgage underwriting.
• Must demonstrate solid job stability, requiring a minimum of two (2) consecutive years of tenure with a previous employer.
• Strong working knowledge of wholesale lending platforms, pipelines, and residential credit guidelines.
• Advanced computer skills including but not limited to proficiency in Encompass Loan Origination System (LOS) and Microsoft Office (Word, Excel, etc.).
• A positive attitude with a highly coachable, collaborative, and team-player mindset.
• Strong working knowledge of related State and Federal banking compliance regulations.
• Strong verbal and written communication skills, ability to communicate at all levels of the organization and manage expectations with the Sales team.
• Must be bilingual in both English and Spanish. Ability to fluently speak, understand, read and write both languages.
• Strong attention to detail, accuracy, and analytical skills to serve as a complex problem solver.
• Ability to multi-task, with strong organization, time-management, and prioritizing skills…