What are the responsibilities and job description for the Loan Underwriter position at First Federal Savings of Lorain?
REPORTS TO: Assistant Vice President of Lending - Underwriting
LOCATION: TBD
DATE: April 18, 2025
JOB DESCRIPTION
Analyze and evaluate 1-4 family residential mortgage loan, Visa and consumer loan requests as
well as the supporting documentation to assess a borrower’s creditworthiness, willingness and
ability to repay while ensuring compliance with Federal, company and secondary market
compliance and guidelines.
Responsibilities / Essential Functions:
- Perform mortgage credit analysis, with or without the assistance of an automated
debt.
- Review application packages to ensure loans meet company standards for sale to investors
- Examine overall loan documentation to ensure accuracy and completeness. Run, review and
- Review and specify loan conditions as necessary.
- Recommend approval, denial or counter offer of credit applications and provide written and
processing and loan originators to provide updates, clarification on outstanding conditions
and deficiencies identified on loans, and assist in interpreting underwriting guidelines.
- Manage team and individual pipelines on a daily basis by completing new underwriting
- Ensure AUS, 1003 and 1008 align and match underwriting conditions.
- Assist in providing training for, and mentoring of, newly hired team members.
- Maintain confidentiality of all loan application information.
- Keep abreast of regulatory changes that affect the underwriting process.
- Assist Management with audit and examination responses.
- Complete all assigned compliance training in a timely manner.
- Participate in ongoing training programs as required.
- Assist with the preparation of lending reports.
- Assist in critiquing of loan policies during the annual review process.
- Attend and participate in loan committee meetings.
- Compliance with all government regulations including the Bank Secrecy Act and related
Competencies:
- Knowledge of Secondary Market documentation and general guidelines and standards.
- Strong decision making, analytical and investigative abilities with attention to detail and
- Good working knowledge of the mortgage loan process; from application to closing.
- Maintain a working knowledge of secondary
- Good analytical, organizational and communication skills.
- Computer skills including word processing and spreadsheets.
- Ethical Practice – Being in accordance with the rules or standards for right conduct or
Bank; moral uprightness; honesty.
- Integrity –
accountability for actions;
o Job based: Ensuring accurate data throughout the organization.
- Communication –
of mediums to audiences of all sizes and backgrounds. Ensures that the delivered
message is clear and understood by the listener.
o Listening: Understands the information provided by others. Listens actively and to
others’ views and concerns. Seeks further information to clarify ambiguity.
- Teamwork – Positively, respectfully and openly participates in the collaborative effort of a
supportive environment. Provide mutual support; be open minded to others’ suggestions
and contributions.
Required Education and Experience:
- Degree in business, banking, finance or a related field.
- Minimum of two (2) years of underwriting experience; four (4) years without a degree.
- Knowledge of state and federal regulations is required as well as a solid understanding of:
Regulation Z.
- Experience with automated underwriting systems.
- Proficient in Microsoft Office Suite (Word, Excel, Outlook) and the ability to learn and use
Position Type:
This is a full-time position. Business hours of operation and scheduled workday may include
Saturday. Must be willing to adjust work hours based on loan volume, including working
overtime as needed.
Travel:
- As required
Physical Demands:
The physical demands described here are representative of those that must be met by an
employee to successfully perform the essential functions of this job.
While performing the duties of this job, the employee is occasionally required to stand; walk;
sot; use hands to finger, handle, or feel objects, tools or controls; reach with hands and arms;
climb stairs; talk to hear. The employee must occasionally lift or move office products and
supplies up to 20 pounds.
Other Duties:
Please note this job description is not designed to cover or contain a comprehensive listing of
activities, duties or responsibilities that are required of the employee for this job. Duties,
responsibilities and activities may change at any time with or without notice.
AAP/EEO Statement:
First Federal Savings of Lorain is an Equal Opportunity Employer Disabled/Vet
