Mortgage Underwriter

Who We Are

First Fed is a local community bank on an exciting growth trajectory with 18 locations including 12 full-service branches in Western Washington. First Fed was recognized by the Puget Sound Business Journal as a Best Workplace for the last 3 years and a Top Corporate Philanthropist in 2023. By popular vote, First Fed received 2023 awards for Best Bank in The Best of the Northwest, Best Banker in Readers’ Choice by Cascadia Daily News, and Peninsula Daily News named us Best Bank on the Olympic Peninsula. We also received a Best-In-State bank award from Forbes in 2021.  

For over 100 years First Fed has served our customers and communities throughout the PNW. We’ve donated over $9 million to non-profit organizations in the past 8 years through our foundations, sponsorships, direct donations, and matched employee donations. Our amazing team has volunteered over 25,000 hours in the past 5 years – many by using our benefit of 3 paid volunteer days per year!  

We welcome applicants from all backgrounds – our diversity makes us stronger. Join our award-winning team!  

Our Values

Optimism:  We are positive and decisive. We believe the future will be better than the past. Our attitude demonstrates persistence which leads to success.

Initiative:  We are self-starters and find innovative solutions. We are courageous, entrepreneurial, and passionate. We take action for good.

Respect:  We include individuals from diverse backgrounds and with different perspectives. We are committed to honoring and serving others.

Growth:  We learn and adapt so we can continually improve. We believe in personal growth through grit and determination.

Ownership:  We are invested in our endeavors. We are accountable and take responsibility for our actions and decisions.

Position Purpose:

Analyze documentation related to mortgage loan request to safeguard the bank’s assets.

Essential Functions:

• Review loan files to determine accuracy of income, assets, credit, pricing, and product parameters. 
• Examine overall loan documentation to ensure accuracy and completeness. 
• Ensure loans meet portfolio or investor guidelines.
• Decision loans within signing authority
• Review and approve appraisal reports and assess company risk in accordance with guidelines. 
• Establish a working knowledge of lending programs and underwriting guidelines, including secondary marketing requirements. 
• Collaborate with other departments to provide top tier customer service.
• Develop and maintain a working knowledge of First Federal lending policies, procedures, and systems.

Qualifications/Requirements: 

• High school diploma or certified equivalency required; Associate degree with accounting, finance or real estate coursework preferred.
• Strong problem-solving skills.
• Ability to use independent judgment in credit and property analysis of potential loans.
• Ability to work independently and multi-task in a fast-paced environment where deadlines must be met.
• Must be self-motivated and a self-starter.
• Active learner with demonstrated ability to seek out resources and address own learning needs effectively.

Roles: 

• Mortgage Loan Underwriter – Responsible for the review and analysis of applications for government FHA, VA, and conventional residential mortgage loans, with an authority level of $667,000. Typically requires a minimum of 2 years of underwriting experience.
• Senior Mortgage Loan Underwriter – Provides the team with senior level mentorship, and expert level execution in the review and analysis of mortgage loans, with an authority level of $750,000. Typically requires a minimum of 5 years of underwriting experience. 

Physical Requirements: 

The work requires the ability to operate office machines and equipment, such as personal computers, printers, copying machines and telephones. The work requires the ability to communicate clearly with customers, coworkers, and others in person and on telephones. Work activities involve combinations of sitting/standing for extended periods.

Pay Range

• The pay range for the Mortgage Underwriter position is $29.09 - $49.46
• The typical hiring range the Mortgage Underwriter is  $29.09 – $33.30

• The pay range for the Senior Mortgage Underwriter position is $72,026.24- $122,444.61
• The typical hiring range the Senior Mortgage Underwriter is $72,026.24  – $82,650.11

• The incentive plan for this position is the Mortgage Support Incentive plan. It is paid out quarterly based on the volume of loans closed, split among the underwriters.
• Employees will be eligible for our benefits package including medical, dental, and vision insurance, paid time off, retirement plans (401k with company match and Employee Stock Ownership Plan), gym membership reimbursement, discounts on our banking products, and more!  Additional information on our benefits package can be viewed at https://www.ourfirstfed.com/careers 

Salary : $72,026 - $122,445