What are the responsibilities and job description for the Mortgage Underwriter position at Southern First Bank?
ESSENTIAL RESPONSIBILITIES
- Receive loan files originated by the financial institution and reviews files for all necessary forms and information according to FNMA and FHLMC underwriting guidelines.
- Analyze applicant’s financial status, credit and property evaluation to determine feasibility of granting loan.
- Submit applications to credit analyst for verification and recommendation.
- Make an underwriting decision for each loan.
- Confer with bank executives to aid in resolving mortgage application problems.
- Communicate with outside mortgage firms, financial institution mortgage loan officers and clients of the financial institution to underwrite files properly.
- Keep informed of current underwriting practices and assists in updating the financial institution’s underwriting policies.
- Analyze potential loan markets to develop prospects for loan.
- Responsible for audits of loan files prior to and after funding is obtained.
- Work with appropriate areas within the bank in obtaining funding for loan files.
- Prepare records and reports as requested regarding loan file activity.
- Complete other duties as assigned.
ESSENTIAL SKILLS, EDUCATION AND EXPERIENCE
- High school diploma with previous banking and/or financial experience.
- Bachelor’s degree in finance or accounting is preferable.
- Knowledge of basic lending and underwriting policies and procedures, including guidelines issued by FNMA and FHLMC.
- Minimum of five years previous lending experience, including at least three years actual underwriting experience.
- Must have DE and LAPP certifications.
- Knowledge of all federal and state regulations regarding lending and related departments.
- Skill in assessing quality of loans originated and purchased by the financial institution.
- Superior analytical thinking and mathematical skills.
- Accurate typing, spelling and grammar skills.
- Good written and oral communication skills.
- Good organizational skills.
- Interpersonal skills to represent the Bank in a positive way in dealing with clients and other team members
- Ability to adjust to change and a willingness to be a team player
- Maintain regular consistent and professional attendance, punctuality and personal appearance
- Ability to work independently and take initiative to exercise judgment and make decisions within scope of authority
- Ability to think and act quickly and to follow procedures
- Must have own transportation
- Must be able to sit for long periods of time as position involves majority of time spent at desk and computer
- Strong working knowledge of industry guidelines and financial institution products and services.
- Be able to work within the time frames of rate locks and at times less than 30 day closing requirement on sales contracts.
- Knowledgeable on applicable computer software systems to include work processing, databases, and spreadsheets.
- Thoroughly knowledgeable of mortgage products and services offered.
WORK CONDITIONS
- Must be able to sit at a desk and computer for long periods of time.
- Minimal travel required.