Website FBT Mortgage
JOB SUMMARY: Assists in providing quality loans for the bank and investors by underwriting and evaluating residential mortgage applications originated by mortgage loan officers. Recommends approval of customer applications for residential loans to be sold to investors.
ESSENTIAL JOB FUNCTIONS:
• Receives loan files originated by the financial institution and reviews files for all necessary forms and information according to government agency, investor/MI underwriting guidelines;
• Analyzes applicant’s financial status, credit and property evaluation to determine feasibility of granting loan;
• Makes an underwriting decision for each loan;
• Confers with Loan Officer and processors to aid in resolving mortgage application problems;
• Communicates with investors, MI companies, government agencies, financial institution mortgage loan officers and customers of the financial institution to underwrite files properly;
• Keeps informed of current underwriting practices and assists in updating the financial institution’s underwriting policies;
• Responsible for audits of loan files prior to and after funding is obtained;
• Prepares records and reports as requested regarding loan file activity.
• Other duties as assigned.
This description is intended to outline the principal duties, responsibilities, and accountabilities of the position, but may not cover all tasks or functions for which the person holding the position will be held accountable.
REQUIRED EDUCATION, EXPERIENCE AND SKILLS:
• LEVEL I – Minimum 1 – 5 years’ experience
• LEVEL II – 5+ years’ experience in underwriting, ability to underwrite more complex loans; must have DE (FHA) and LAPP (VA), as well as experience underwriting USDA/RD
• Knowledge of basic lending and underwriting policies and procedures, including guidelines issued by FNMA, FHLMC and FHA;
• Designated loan underwriter preferred;
• Three to five years previous lending experience, including at least three years actual underwriting experience;
• Knowledge of all federal and state regulations regarding lending and related departments,
• Knowledge of current lending rates on various loan options;
• Skill in assessing quality of loans purchased and originated by the financial institution;
• Superior analytical thinking and mathematical skills;
• Excellent internal and external customer service skills;
• Good verbal and written communication skills;
• Ability to work with little supervision, self starter with excellent follow up skills;
• Ability to prioritize, multi task and meet deadlines;
• Proficient computer skills;
• Professional in manner and appearance.
Physical Demands- While performing the duties of this job, the employee is regularly required to stand; walk; sit; use of hands and fingers to feel or handle equipment and files; reach with hands and arms and talk and hear. The employee is occasionally required to climb or balance and stoop, kneel, crouch or crawl. The employee must regularly lift and/or move up to 2.5 pounds. The employee occasionally lifts and/or moves up to 10 pounds. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Work Environment- The work environment of the Mortgage Loan Underwriter is in an office or cubicle due the nature of the position. The general area is medium to low noise level. All areas are air conditioned or heated. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
LEVEL I – Minimum 1 – 5 years’ experience
LEVEL II – 5+ years’ experience in underwriting, ability to underwrite more complex loans; must have DE (FHA) and LAPP (VA), as well as experience underwriting USDA/RD.