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Please see below for additional information regarding the Mortgage Underwriter position and submit your online application!
Position Summary:
Under the direction of the Mortgage Loan Underwriting Supervisor, the Mortgage Loan Underwriter approves or denies mortgage loans by performing the following duties.
Essential Job Responsibilities:
- Performs final review of mortgage loan credit, income, asset and property documents to determine acceptability of documents provided and proper execution of any corresponding calculations.
- Analyzes credit history, income capacity, adequacy of assets and collateral eligibility and value to determine acceptability of risk for manual underwriting or validation of data entry for automated underwriting.
- Assures compliance of loans with guidelines of insuring/guaranteeing entities (FHA, VA, RHS, PMI companies and NDHFA) as well as secondary mortgage market investors (private mortgage companies, FNMA and FHLMC).
- Approves or rejects loan applications or requests additional information.
- Approves loans within specified limits and conducts approval process and set-up.
- Records loan rejections, specifying investor and institution guidelines and basis for declining application, such as insufficient cash reserves.
- Reviews documents in loan files, including acceptance or denial and returns scanned information to originating mortgage loan office.
- Assists loan department with training, responds to request for information and assists with other loan duties as needed.
- Maintains proper correspondence and legal files.
- Explains, promotes, cross-sells or refers bank, insurance and trust products or services.
- Reviews emails and branch messages to remain current on policy or procedural changes and new product offerings.
- Attends periodic training to remain current on trends and developments and participates in an exchange of ideas and problems.
- Assists with various projects and assignments as needed.
- Comply with federal, state, and company policies, procedures, internal controls, and regulations.
Qualifications:
Bachelor's degree (B. A.) from four-year college or university; or three plus years of related experience in the mortgage evaluation process; or equivalent combination of education and experience.