Residential Mortgage Underwriter at Franklin Savings Bank

Franklin Savings Bank is looking to add to our amazing Residential team, where we have an opening for a Residential Mortgage Underwriter.

This position is responsible for underwriting residential mortgage applications while providing a thorough analysis of all documentation and evaluating risks to make loan eligibility decisions, as well as providing departmental support by using knowledge of underwriting guidelines. This position reviews, interprets and adheres to bank policy as well as state and federal regulations and delivers consistent, high-quality service through courteous, professional, and confidential exchanges with all internal and external customers.

Key Responsibilities:

• Review and evaluate residential mortgage loans for secondary market (FHLMC), government agencies (MSHA, RD) and various portfolio products including construction loans by performing the following:
• Verify and analyze loan applications and other necessary documentation required for approval while ensuring that the Bank is adhering to Bank, Secondary Market, Governmental and/or Regulatory policies and procedures
• Analyzing income and asset documentation for qualifying and determining ability to repay for borrowers, including for those who are self-employed
• Review and approve all third party documentation such as credit reports, flood certifications, appraisal and title reports, etc.
• Make decisions based on calculated risk while documenting reasoning for all loan approvals and/or denials
• Prepares presentations for Management or committees for loans that exceed the approving parties lending authority
• Communicates lending decisions through the preparation of commitment letters and/or adverse action notifications
• Review loan files for completeness, identify missing documentation and generate and maintain underwriting conditions to track documents needed for final approval
• Ability to read, interpret and comply with AUS findings
• Obtain, review and update locked in contracts for secondary market loans
• Updating the bank’s loan origination system according to regulatory compliance and bank policy
• Maintain knowledge of and adhere to secondary market guidelines including FHLMC, first time homebuyer programs as well as various insurer guidelines
• Review regulation changes and assist in implementing those changes into the bank’s loan and underwriting process

Qualifications:

• In depth knowledge of the mortgage industry including fair lending, regulatory compliance and bank policy pertaining to mortgage lending
• Encompass LOS experience preferred
• Excellent organizational skills and attention to detail
• Interacts harmoniously and effectively with others, working collectively to achieve bank goals while fostering excellent teamwork
• Effective problem-solving skills
• Highly motivated and excels in a fast-paced environment
• Adaptable to a flexible, fast-changing industry
• Strong written and verbal communication skills
• Ensure timely review and effective follow up to meet and exceed customer’s expectations
• Bachelor’s degree, or equivalent experience

Location:

• This position sits in the Farmington, Maine office. 3/2 Hybrid arrangement will be considered.

Why Join Our Team?

At Franklin Savings Bank, we value our employees as our greatest asset and are committed to their growth and well-being. We are proud of our culture, where we are dedicated to providing our employees an environment of caring, comradery, and fun!

In addition, we prioritize our commitment to our communities in which we live and work. We sponsor over 100 events each year and in 2023 we donated more than $500,000 to local non-profits!

Embrace the opportunity to grow with a team where your contributions are truly valued. Apply today at www.franklinsavings.bank/careers and include your cover letter, resume, and three professional references. This position will remain open until the right candidate is found.

Franklin Savings Bank is an Equal Opportunity Employer. All persons shall have the opportunity to obtain employment without discrimination because of race, color, religion, national origin, citizenship, sex, age, disability, handicap, sexual orientation, gender identity, veteran status, military status, or other impermissible criteria.

Job Type: Full-time

Benefits:

• 401(k)
• Dental insurance
• Health insurance
• Paid time off
• Parental leave
• Vision insurance

Schedule:

• Day shift
• Monday to Friday
• Weekends as needed

Work Location: In person