What are the responsibilities and job description for the Consumer Real Estate Underwriter position at Somerset Trust Company?
Description
Summary
Render credit decisions on consumer loans, primarily real estate loans. Gather and verify supporting documentation according to guidelines and regulatory requirements. Correspond and provide guidance to the consumer real estate originators regarding loans in process.
Essential Duties and Responsibilities
• Underwrite consumer real estate loans, verifying income and property taxes.
• Request and review title searches on properties.
• Understanding and keeping up to date on all regulatory guidelines associated with real estate lending.
• Complete cash flows for all consumer loan requests.
• Be proficient in using all loan systems including the ability of testing of new processes or products.
• Provide assistance to consumer real estate originators for loan application processing.
• Attend CREO meetings on a regular basis and work closely with the Consumer Lending Lead Officer to train and mentor CREO's.
• Ensure compliance with regulatory standards and underwriting guidelines.
• Maintain a thorough understanding of credit and ability to review tax and loan documents.
• Review appraisal/full in-house evaluation/tax assessment evaluation for value of collateral.
• Spend 12 hours minimum a year with consumer real estate originators meeting with customers to learn and keep updated on the origination process of consumer real estate lending.
• Complete a final underwrite and clear to close prior to sending over to Consumer Real Estate Loan Processor.
• Participate in the Consumer Loan Review Group to approve loan exceptions.
• Review monthly reports and report to management when needed.
• Maintain current knowledge of and adhere to the BSA policy.
• Assist and guide Consumer Real Estate Loan Processors with questions for unusual requests.
• Understand and support all BSA/AML responsibilities as applicable to the position as well as consistently, accurately, and timely carry out these responsibilities in compliance with the Bank's internal policies
• Perform other related work and duties as assigned
Education and/or Experience
Consumer real estate lending experience is helpful but not necessary. Bachelors or Associate's degree or equivalent is a plus; or equivalent combination of education and experience. Good understanding of financial institution products and services are essential.
TECHNICAL SKILLS
Ability to operate a personal computer and job-related software. (Web-based systems, Word, Excel, Core Operating System DNA). Must be willing to learn new systems and not have any issues with emerging technology.
LANGUAGE SKILLS
Ability to read and interpret documents such as procedure manuals. Ability to write business correspondence, and policies using proper grammar and accurate spelling.
MATHEMATICAL SKILLS
Ability to calculate figures and amounts such as discounts and interest, etc.
REASONING ABILITY
Ability to apply common sense understanding to carry out instructions furnished in written, oral, or diagram form. Ability to deal with problems involving several concrete variables in standardized situations.
PHYSCIAL DEMANDS
WORK ENVIRONMENT
• The noise level in the work environment is usually moderate.
BENEFITS AND ADDITIONAL INFORMATION
• Bank wide bonus, 401(k), ESOP, Medical, Dental & Vision insurance, Health Savings Account, Life Insurance, Paid Holidays, PTO, and Paid Volunteer Time.
• Work Schedule is Monday through Friday
• Full-time 37.5 - 40 hours per week
• Flex Schedule Information
This job description is not designed as a comprehensive list of activities, duties, and/or responsibilities and may change at any time with or without notice. The duties and qualifications stated within this job description are representative of the knowledge, skill, and/or ability required for this position.
Somerset Trust Company is an Equal Opportunity Employer, including disability and protected veteran status. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions of this position.
Summary
Render credit decisions on consumer loans, primarily real estate loans. Gather and verify supporting documentation according to guidelines and regulatory requirements. Correspond and provide guidance to the consumer real estate originators regarding loans in process.
Essential Duties and Responsibilities
• Underwrite consumer real estate loans, verifying income and property taxes.
• Request and review title searches on properties.
• Understanding and keeping up to date on all regulatory guidelines associated with real estate lending.
• Complete cash flows for all consumer loan requests.
• Be proficient in using all loan systems including the ability of testing of new processes or products.
• Provide assistance to consumer real estate originators for loan application processing.
• Attend CREO meetings on a regular basis and work closely with the Consumer Lending Lead Officer to train and mentor CREO's.
• Ensure compliance with regulatory standards and underwriting guidelines.
• Maintain a thorough understanding of credit and ability to review tax and loan documents.
• Review appraisal/full in-house evaluation/tax assessment evaluation for value of collateral.
• Spend 12 hours minimum a year with consumer real estate originators meeting with customers to learn and keep updated on the origination process of consumer real estate lending.
• Complete a final underwrite and clear to close prior to sending over to Consumer Real Estate Loan Processor.
• Participate in the Consumer Loan Review Group to approve loan exceptions.
• Review monthly reports and report to management when needed.
• Maintain current knowledge of and adhere to the BSA policy.
• Assist and guide Consumer Real Estate Loan Processors with questions for unusual requests.
• Understand and support all BSA/AML responsibilities as applicable to the position as well as consistently, accurately, and timely carry out these responsibilities in compliance with the Bank's internal policies
• Perform other related work and duties as assigned
Education and/or Experience
Consumer real estate lending experience is helpful but not necessary. Bachelors or Associate's degree or equivalent is a plus; or equivalent combination of education and experience. Good understanding of financial institution products and services are essential.
TECHNICAL SKILLS
Ability to operate a personal computer and job-related software. (Web-based systems, Word, Excel, Core Operating System DNA). Must be willing to learn new systems and not have any issues with emerging technology.
LANGUAGE SKILLS
Ability to read and interpret documents such as procedure manuals. Ability to write business correspondence, and policies using proper grammar and accurate spelling.
MATHEMATICAL SKILLS
Ability to calculate figures and amounts such as discounts and interest, etc.
REASONING ABILITY
Ability to apply common sense understanding to carry out instructions furnished in written, oral, or diagram form. Ability to deal with problems involving several concrete variables in standardized situations.
PHYSCIAL DEMANDS
- While performing the duties of this job, the employee is required to use hands and fingers to operate office equipment, telephones, etc.
- The employee must occasionally lift and/or move up to 25 pounds
- Specific vision abilities required by this job include close vision, and ability to adjust focus
WORK ENVIRONMENT
• The noise level in the work environment is usually moderate.
BENEFITS AND ADDITIONAL INFORMATION
• Bank wide bonus, 401(k), ESOP, Medical, Dental & Vision insurance, Health Savings Account, Life Insurance, Paid Holidays, PTO, and Paid Volunteer Time.
• Work Schedule is Monday through Friday
• Full-time 37.5 - 40 hours per week
• Flex Schedule Information
This job description is not designed as a comprehensive list of activities, duties, and/or responsibilities and may change at any time with or without notice. The duties and qualifications stated within this job description are representative of the knowledge, skill, and/or ability required for this position.
Somerset Trust Company is an Equal Opportunity Employer, including disability and protected veteran status. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions of this position.