Residential Mortgage Underwriter III

Overview

Invest In You! Tri City National Bank is not just a bank; it's your community banking partner, deeply committed to prioritizing customers, building strong relationships, and fostering a sense of belonging. Our team-oriented environment offers exceptional opportunities for personal and professional growth, celebrating success, and providing excellent benefits along the way. We believe in unparalleled customer service and the right banking solutions to help fulfill financial dreams and contribute to community growth.

The Residential Mortgage Underwriter III is responsible for independently reviewing and analyzing mortgage loan applications to assess borrower creditworthiness and overall risk. This role evaluates supporting documentation, determines required loan conditions, and issues underwriting decisions in compliance with investor guidelines, regulatory requirements, and company policies and procedures. The Underwriter III is expected to provide superior client service, meet established service level agreements, and consistently deliver accurate, high-quality work in support of the organization's financial objectives.

Compensation: $70,000 - $80,000 per year depending on experience.

This position is located in office, at our operation center located in West Allis, WI.

• Review and underwrite mortgage loan applications of all income types, ensuring complete documentation and compliance with agency, investor, and portfolio requirements.
• Independently assess borrower creditworthiness, financial capacity, and overall loan risk, including complex lending scenarios.
• Underwrite construction, bridge, purchase, rate/term refinance, cash-out refinance, home equity loan, and HELOC transactions.
• Issue underwriting decisions and clearly communicate approval conditions, documentation requirements, and deficiencies.
• Approve property evaluations and full appraisals within delegated authority.
• Apply FHLMC and portfolio underwriting guidelines accurately while maintaining knowledge of Fannie Mae and FHA requirements.
• Serve as a Team Lead by conducting second reviews and providing training and guidance to junior underwriters.
• Partner with Processing and other departments to facilitate efficient loan workflow, resolve outstanding conditions, and support organizational objectives.
• Communicate underwriting decisions and rationale clearly to loan officers and other stakeholders.
• Ensure loan files meet regulatory, compliance, and company policy requirements while maintaining accuracy and quality standards.

Decision & Approval Authority

• Underwriter will have decision approval authority for rate/term refinances, cash-out refinances, HE loans, HELOCS, purchase, bridge loan and construction loan transactions.
• Underwriter has decision approval for FHLMC and Portfolio loans.
• Underwriter has approval authority with limits approved by Senior management.

• Proficient in using Mortgage Bot, Loan Prospector, Data Verify, Loan Beam, FIS, income calculators, and other underwriting tools to analyze loan data and support credit decisions.
• Analyze credit reports to evaluate credit history, payment patterns, liabilities, and derogatory information.
• Review and analyze income, asset, and financial documentation, including accurately calculating and validating all income types.
• Review property-related documentation, including property taxes, homeowners insurance, and title insurance policies, identifying liens, judgments, and title issues as applicable.
• Maintain a strong working knowledge of underwriting guidelines and effectively research requirements within the FHLMC Seller/Servicer Guide and TCNB Retail Loan Underwriting Matrix.
• Review initial mortgage loan disclosures to ensure compliance with regulatory…