What are the responsibilities and job description for the Senior Mortgage Underwriter position at Broadway Bank?
Work Days: Monday - Friday | Hours of Operation: 8:00am - 5:00pm
Why Broadway Bank:
We are one of the largest independently owned banks in Texas with offerings in personal and private banking, wealth management, business banking and mortgage lending.
Position Overview:
The Senior Mortgage Underwriter plays a pivotal role in maintaining the integrity and quality of residential mortgage loan operations at the institution. This position ensures that all mortgage loans comply with internal policies, underwriting guidelines, and federal/state regulations such as ECOA/Fair Lending, HOEPA, RESPA, HCML/HPML and HMDA. The Senior Mortgage Underwriter is instrumental in upholding the bank’s standards for loan approvals and risk management.
Essential Functions:
- Conduct comprehensive evaluations of residential mortgage loan applications to ensure adherence to ECOA/Fair Lending, HOEPA, RESPA, HCML/HPML, and HMDA regulations.
- Review and validate that mortgage loan documentation aligns with federal disclosure requirements and bank policies.
- Ensure consistent application of underwriting criteria across all residential mortgage decisions, identifying and documenting any policy exceptions.
- Act as the Bank’s Chief Review Appraiser, performing detailed quality control reviews of residential loan appraisals.
- Field and resolve underwriting inquiries from auditors or regulatory examiners, demonstrating comprehensive knowledge of underwriting practices.
- Collaborate with the Mortgage Department Manager in the annual evaluation and revision of underwriting guidelines to reflect current best practices and regulatory requirements.
- Lead in the training and mentoring of staff on underwriting procedures, guidelines, and appraisal reviews.
- Performs a quality control review for underwriting processes to minimize risk and ensure loan quality.
- Monitor changes in federal and state mortgage lending laws and regulations, adjusting underwriting practices accordingly to maintain compliance.
- Prepare and submit reports related to loan decisions, policy exceptions, and compliance issues as required.
- This position may require travel within the Bank’s geographic area.
Experience & Education:
- Minimum of 6-7 years in mortgage lending, including at least 3 years of underwriting or processing experience. Experience as a Designated Underwriter is preferred.
- High School diploma or equivalent required; a 4-year college degree is preferred.
Skills & Qualifications:
- Strong analytical and decision-making skills.
- In-depth knowledge of federal and state mortgage lending regulations.
- Proficiency in using mortgage loan processing software.
- Excellent communication skills, both verbal and written.
- Mathematical aptitude and strong attention to detail.
- Ability to mentor and train staff.
- Ability to work independently and manage multiple priorities.
- Strong problem-solving skills and capacity to adapt to changing regulations.
- Demonstrated integrity and ethical standards in handling confidential information.
Other Requirements:
- Willingness to undertake continuous professional development and training.
- Flexibility to adapt to evolving industry practices and regulatory landscapes.
- Requires the ability to lift, carry, push, pull weights or otherwise move objects weighing as much as10 lbs. on a regular basis and/or for extended periods of time during the workday.
- Occasional overtime or extended hours may be required.
We’re a culture that offers resources to benefit your overall health and well-being:
- Career Development and Mentorship Programs
- Generous paid time off, minimum 4 weeks
- Employee recognition, awards, and events
- Free vision insurance
- Retirement matching
- Tuition reimbursement
