What are the responsibilities and job description for the Mortgage Underwriter III position at First Interstate Bank?
This position can be located at our Sioux Falls, SD and Billings, MT Downtown Tower branch.
What's Important to You
We know your career is just one aspect of a meaningful, complex, and demanding life. That's why we designed our compensation and benefits package to provide employees and their families with as much choice as possible.
- Generous Paid Time Off (PTO) in addition to paid federal holidays.
- Student debt employer repayment program.
- 401(k) retirement plan with a 6% match.
- The health and happiness of the places we call home matter to us. Learn a little more about what we do for the communities we serve and why we want YOU to be a part of it.
We encourage you to apply. Reach for what you want and tell us why your work ethic and willingness to learn make you a natural fit for #TeamFirstInterstate.
SUMMARY
The Mortgage Underwriter III underwrites and evaluates Conventional, FHA, VA and RD residential mortgage loan applications to provide quality loans for First Interstate Bank, secondary market investors, and credit risk. This position will review and evaluate loan files and makes decisions on the files consistent to First Interstate Bank's lending policies and all appropriate program guidelines.
ESSENTIAL DUTIES AND RESPONSIBILITIES
- Examines residential mortgage loan applications for accuracy and completeness.
- Ensures that all agency, investor, and or private insurer's guidelines and overlays are strictly enforced.
- Reviews automated underwriting findings and loan files for adherence to requirements.
- Determines whether credit, income and source of funds are stable and adequate for repayment and meet all applicable guidelines.
- Evaluates property to determine adequacy of collateral and adherence to all agency and/or investor requirements.
- Reviews title information for accuracy and adherence with all agency and/or investor requirements.
- Approves or rejects loans based on findings and file documentation.
- Ensures compliance with government regulations and bank policies.
- Maintains current underwriting knowledge for all agency, investor and private insurers.
- Supports the goals of the Community Reinvestment Act (CRA) in the development and implementation of new lending programs.
- Assists in development of consistent underwriting, quality control, and compliance testing procedures throughout the banks' mortgage lending operations.
- Participates in community involvement activities.
MANAGEMENT RESPONSIBILITIES
- Trains Real Estate staff.
QUALIFICATIONS
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
KNOWLEDGE, SKILLS AND ABILITIES
- Accurate keyboarding and 10-key skills.
- Computer experience with Windows software.
- Ability to set priorities and work in an organized manner.
- Ability to perform multiple tasks with great attention to detail.
- Ability to work with the public on a daily basis.
- Ability to work under pressure with limited supervision.
- Ability to meet and deal with the public and co-workers in a friendly, professional manner.
- Ability to read, analyze, and interpret general business periodicals, professional journals, technical procedures, or governmental regulations.
- Ability to effectively present information and respond to questions from groups of managers, clients, customers, and the general public.
- Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, percentages, area, circumference, and volume.
- Ability to apply concepts of basic algebra and geometry.
- Ability to define problems, collect data, establish facts, and draw valid conclusions.
- Ability to interpret an extensive variety of technical instructions in mathematical or diagram form and deal with several abstract and concrete variables.
- As a condition of employment, any successful job applicant will be required to pass a pre-employment screening against the Limited Denial of Participation (LDP), GSA Excluded Party List System (EPLS), and Freddie Mac Exclusionary List.
EDUCATION AND/OR EXPERIENCE
- High School Diploma or General Education Degree (GED) required
- 4-6 years real estate underwriting experience required
LICENSES AND CERTIFICATIONS
- Valid Driver's License required
PHYSICAL DEMANDS AND WORKING ENVIRONMENT
The physical demands and work environment are representative of those that must be met or encountered to successfully perform the essential functions of the job. In compliance with the Americans with Disabilities Act, the company provides reasonable accommodation to qualified individuals with disabilities and encourages both prospective and current employees to discuss potential accommodations with the employer.
- Dexterity of hands/fingers to operate computer keyboard and mouse - Frequently
- Lifting - Occasionally (up to 10 lbs)
- Sitting - Frequently
- Overtime - Subject to business need
- Noise Level - Moderate
- Typical Work Hours - M-F (8-5)
- Regular and Predictable Attendance - Required
Our company is an equal opportunity employer. Employment here is based solely upon an individual's merit and qualifications directly related to the position. We do not discriminate on the basis of race, color, religion, national origin, ancestry, pregnancy status, sex, age, marital status, disability, medical condition, or any other characteristics protected by law. We make all reasonable accommodations to meet the obligations set forth under the Americans with Disabilities Act (ADA) and state disability laws.
