Senior Residential Mortgage Underwriter

Position Overview:

Under minimal oversight, evaluate financial data and underwrite residential mortgage loan applications.

Key Responsibilities:

Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

• Examine financial data for new residential loan applications and modifications, adhering to established exposure limits of $2,000,000.00, or with dual approvals, up to $2,500,000.
• Assess loan structures to ensure compliance with acceptable credit standards and confirm that all loans align with credit policies while effectively managing exceptions.
• Resolve outstanding conditions on approved loan applications.
• Thoroughly complete historical trend analyses and perform moderately complex self-employed borrower evaluations, including S-Corps, C-Corps, and Partnership returns, as well as financially intricate borrowers owning multiple entities.
• Evaluate collateral quality and values based on residential appraisal reports.
• Maintain comprehensive knowledge of banking policies and relevant lending regulations.
• Continuously enhance understanding of the residential mortgage sector and housing market trends and risks that may influence the Residential Mortgage portfolio.
• Possess and uphold knowledge of underwriting standards for all programs and products offered by the organization by tracking agency and investor updates.
• Assist in mentoring other Underwriters regarding changes in underwriting standards and regulatory updates.
• Ensure compliance with Fair Credit, CRA, and Reg B regulations.
• Demonstrate a thorough understanding of underwriting to agency guidelines (FNMA, FHLMC, and FHLB) and the organization's Residential Loan Policy guidelines.
• Exhibit knowledge of and proficiency in underwriting government loan program guidelines (FHA, VA, and USDA) as well as Construction-Permanent programs.
• Act as a reviewer for Underwriters submitting test cases for their DE or SAR designations.
• Conduct underwriting for HELOC and other relevant consumer products.
• Meet minimum production standards for underwriters while ensuring quality and service level expectations are achieved.
• Deliver on organizational metrics and KPIs to guarantee timely and high-quality underwriting outcomes:
  1. Days assigned to when underwriting is finalized;
  2. Quality of work assessed by the number of findings identified by Mortgage Operations Officer, pre and post-funding QC, and investor audits.
• Perform additional duties and/or projects as assigned.

Required Qualifications:

• High school diploma or equivalent required; Bachelor's degree from an accredited institution preferred.
• Five or more years of experience in the mortgage industry.
• Possesses FHA Direct Endorsement (DE) and VA Staff Appraisal Review (SAR) designations, along with demonstrated proficiency in underwriting USDA, Construction/Permanent, and Conventional loans.
• Solid understanding of residential loan underwriting and processing.
• Comprehensive knowledge of accounting, financial analysis techniques, and spreadsheet applications.
• In-depth understanding of credit concepts, loan documentation, banking services, and operations.
• Strong analytical skills with detailed knowledge of lending structures and cash flow analysis.
• Familiarity with principles of residential mortgage lending laws, banking policies, services, and products.
• Excellent organizational skills.
• Outstanding customer service abilities, along with strong verbal and written communication skills.
• Proficient in presentation, negotiation, and consensus-building.
• Proficiency in Microsoft Outlook, Word, and Excel.
• Strong understanding of core systems and Loan Origination System (LOS).
• Exceptional analytical skills and attention to detail.
• Able to work independently or collaboratively in a team setting.

Work Environment:

This role operates in a professional office environment, routinely utilizing standard office equipment such as computers, monitors, phones, printers, and filing systems.

Physical Requirements:

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this position.

While performing the duties of this job, the employee is regularly required to talk or hear. Specific vision requirements include close vision, distance vision, and the ability to focus. Although primarily sedentary, the employee may frequently need to stand, walk, use hands to handle objects, reach with hands and arms, and occasionally lift or move up to 25 pounds.

EEO Statement:

The organization supports a diverse workforce and is an Equal Opportunity Employer. It is the policy of the organization to provide equal employment opportunities without regard to race, ethnicity, color, religion, sex, national origin, age, disability, marital status, covered veteran status, sexual orientation, gender identity, genetic information, or any other protected characteristic applicable under law.

This job description reflects management's assignment of essential functions and position responsibilities. Nothing in this job description restricts management's rights to assign or reassign duties and responsibilities to this job at any time.

---