What are the responsibilities and job description for the Mortgage Loan Underwriter (Full Time) - Lubbock position at PROSPERITY BANK?
How to apply: Please apply through Prosperity Bank's Career Center at https://www.prosperitybankusa.com/Careers and to find more job opportunities with our company.
- A pre-employment credit check will be run on all qualified applicants.
To review and underwrite consumer purpose real estate secured loans either to be held in the Portfolio or sold on the Secondary Market:
- Identifies, analyzes, and evaluates loan risks and compensating factors
- Approves, conditions and denies loan applications
- Determines eligibility and problem solves to provide customers with alternative solutions
- Ensures that loans are approved within the terms of the Bank’s standards and procedures, regulatory underwriting guideline
- For loans sold on the Secondary Market, ensure loans are underwritten to agency and investor guidelines and ensure salability.
ESSENTIAL FUNCTIONS AND BASIC DUTIES
1. Assumes responsibility for accurately evaluating the credit worthiness of potential borrowers.
- Underwrites Pre-Approval requests, Approval requests, Final Approval requests and reviews and clears conditions.
- Evaluates the adequacy of the applicant’s income and probability that the customer will be able to meet expected financial obligations.
- Reviews borrower’s credit reports. Reviews the manner which obligations have been met and financial affairs managed.
- Completes all underwriting functions in accordance with various program requirements. Understands Bank’s Loan Policy and Underwriting Guidelines to identify exceptions.
- Stays informed regarding Bank’s Loan Policy, Underwriting Guideline, Agency/Investor Guideline changes in lending standards and related legal requirements.
- Maintains a high level of confidentiality.
- Demonstrates an exceptional service level.
- Assists Team Lead, Supervisor and Department Manager in developing and meeting short and long-term goals.
2. Assumes responsibility for establishing and maintaining effective communication and coordination with Bank personnel and with management.
- Assists and supports Bank personnel as needed. Answers questions of loan personnel regarding policies and procedures.
- Attends and participates in meetings and committees as required.
- Keeps Team Lead, Supervisor and Consumer Credit Underwriting Manager informed of area activities and of any significant problems.
- Completes and maintains required reports, records and training.
- Reports technical problems to appropriate personnel for investigation and to prevent reoccurrence of problems.
3. Assumes responsibility for related duties as required or assigned.
- Maintains and updates knowledge of underwriting requirements and policies.
- Stays informed of modifications and updates in software applications.
- Completes annual compliance testing and training on time.
- Performs other duties, tasks and special projects as required, assigned, or directed with or without accommodation.
- Keeps work area clean, secure, and well maintained.
- Provides suggestions for improvements in underwriting policies and procedures.
EDUCATION/CERTIFICATION:
Associate degree in business or a related field, or an equivalent combination of training and work experience.
REQUIRED KNOWLEDGE:
Strong knowledge of credit reports and determination of credit worthiness while maximizing productivity and minimizing credit risk. Properly review 3rd party credit and collateral data.
Working knowledge of consumer real estate loans and collateral documentation.
Working knowledge of regulatory requirements.
EXPERIENCE REQUIRED:
1-5 years’ experience credit underwriting, loan review, mortgage or related experience.
SKILLS/ABILITIES:
Excellent communication skills.
Sound credit judgment.
Good organizational skills and attentive to detail.
Able to operate required computer applications, typewriter, 10-key, and other basic business machines.
* A pre-employment credit check will be performed on all qualified applicants.*
Monday - Friday 8:00 am to 5:00 pm
40 hours per week