Retail Loan Underwriter

Retail Underwriter

DEPARTMENT: Lending NORMAL WORK SCHEDULE:

REPORTS TO: Credit Administration Manager NORMAL WORK DAYS:

SUPERVISES: None

CLASSIFICATION: Nonexempt EXPECTED HOURS PER WEEK: 40

LAST REVISED: February 2018

POSITION SUMMARY: Performs the underwriting of mortgage, and consumer loans. Reviews data and information to support the credit and structure of the credit to minimize risks. Performs any functions, within scope of expertise, to provide a high level of service and responsiveness to support internal and external customers’ needs. Ensures compliance with loan policy and appropriate regulations.

PRIMARY RESPONSIBILITIES AND ACCOUNTABILITIES:

1. Performs mortgage and consumer underwriting analysis to determine the borrower’s ability to repay debt for portfolio and secondary market loans. Identifies products available to accommodate request for financing.

2. Reviews loan documentation to ensure accuracy, completeness and compliance; reviews financial statements, credit reports, application ratios (e.g. debt ratio, loan to value), and all supporting documentation to verify it meets the Bank’s, investors and private mortgage insurers guidelines and policies and federal and state regulatory requirements.

3. Identifies transaction components that indicate a potential risk for fraud and performs sufficient investigative work to resolve any issues that are identified.

4. Orders and reviews required documentation, such as title work, flood, appraisals and other documents, as necessary.

5. Reviews files to ensure all regulatory and investor standards have been met and are properly documented in the file.

6. Issues and clears any outstanding loan conditions as needed to remain fully compliant throughout the entire loan process.

7. Monitors and completes annual reviews and ongoing monitoring of construction loans in a timely manner.

8. Reviews, updates and amends loan presentations on all portfolio residential mortgage loans in a timely manner using standard format, as required per Bank’s loan policy guidelines. Ensures proper loan approval is obtained and verifies any exceptions to policy are approved and documented prior to loan closing.

9. Remains highly informed on current Bank, regulatory and secondary market standards and guidelines, including those of investors and mortgage insurance providers. Interprets and communicates standards and guidelines to mortgage bankers in an effective manner.

10. Makes an active contribution to the annual updates made to the Bank’s loan policy, as it pertains to mortgage and consumer lending, based on trends that need to be addressed or areas that need further clarification.

11. Cross trains other team members for back-up support as needed.

12. Supports the sales culture of the Bank by seeking opportunity to promote Bank products and services.

SECONDARY RESPONSIBILITIES AND ACCOUNTABILITIES:

· Performs other duties as may be assigned.

COMPETENCIES:

· Customer Orientation – Effective performers stay close to customers and consumers. They view the organization through the eyes of the customer and go out of their way to anticipate and meet customer needs. They continually seek information and understanding regarding market trends.

· Results Orientation – Effective performers maintain appropriate focus on outcomes and accomplishments. They are motivated by achievement, and persist until the goal in reached. They convey a sense of urgency to make things happen. They respect the need to balance short- and long-term goals. They are driven be a need for closure.

· Integrity – Effective performers think and act ethically and honestly. They apply ethical standards of behavior to daily work activities. They take responsibility for their actions and foster a work environment where integrity is rewarded.

· Initiative – Effective performers are proactive and take action without being prompted. They don’t want to be told what to do or when to do it. They see a need, take responsibility, and act on it. They make things happen.

· Team Player – Effective performers are team oriented. They identify with the larger organizational team and their role within it. They share resources, respond to requests from other parts of the organization and support larger legitimate organizational agendas as more important than local or personal goals.

TEAM/COMMITTEE ASSIGNMENTS:

· NA

ROLE QUALIFICATIONS:

Education

· High School Diploma or Equivalent

Experience

· A minimum of 3 years related experience preferred

· Thorough understanding of processing, underwriting and closing procedures

Other Skills and Abilities

· Oral/Written communication skills

· Maintain confidentiality of customer information

· Problem-solving and decision-making skills

PERFORMANCE MEASURES:

· Quality, accuracy, and volume of loans

· Reliability, friendliness, thoroughness and timeliness of loan services provided to customers

· Adherence to Bank policy and Federal and State Regulatory requirements

· Participation in training and appropriate professional developments

· Appropriate attendance record and punctuality

· Professional work place appearance and conduct

· Meets or exceeds annual goals as pre-established by supervisor that are aligned with the strategic plan

WORKING CONDITIONS:

Work is performed largely within the Bank. Prolonged and frequent mental and visual concentration required. Work hours are generally during normal business hours. Unscheduled evening and weekend work may be needed to meet the needs of customers and employees. Occasional travel between offices may be required. Must be able to lift and move up to 20 pounds of office supplies and equipment. Some bending, turning, and twisting required.

GENERAL NOTICE:

This position description describes the general nature and level of work performed by the employee assigned to this position and should not be interpreted as all inclusive. It does not state or imply that these are the only duties and responsibilities assigned to the position. The employee may be required to perform other job-related duties. All requirements are subject to change and to possible modification to reasonably accommodate individuals with a disability.
This position description does not constitute an employment agreement between the Bank and employee and is subject to change by the employer as the needs of the Bank and requirements of the position change.

Job Type: Full-time

Benefits:

• 401(k)
• 401(k) matching
• Dental insurance
• Health insurance
• Health savings account
• Life insurance
• Paid time off
• Retirement plan
• Tuition reimbursement
• Vision insurance

Work Location: In person