Residential Underwriter

Residential Loan Underwriter

Department/Location: Loan Department / TBD

Employee Reports to: Residential Loan Manager

FLSA: Hourly; Non-Exempt position

Status: Full-Time 80 Hours

Rate of Pay: Grade 24 / $33.33 to $49.02 an hour

Summary/Objective: This position is responsible for evaluating and analyzing residential loan applications to ensure compliance with company policies and regulatory requirements. The Residential Loan Underwriter reviews borrower creditworthiness, income, assets, and collateral to determine the level of risk. The underwriter works closely with loan officers, processors, and other team members to deliver timely, accurate decisions while maintaining excellent customer service standards. This position may have limited loan approval authority.

Essential Job Functions:

• Analyzes loan files regarding applicant’s financial status, creditworthiness and property appraisals to determine feasibility of granting loan/approves or makes recommendations for approval or denial and submits to loan committee.
• Searches clients’ employment and financial histories thoroughly to determine accuracy of all documentation.
• Inquire about any additional information needed to determine loan risk.
• Provides quality control of loan files verify accuracy and completion of all required loan documentation using compliance and underwriting guidelines.
• Answers inquiries regarding loan processing or underwriting information with Loan Processors, Loan Officers, Loan Closers, Loan Servicing and Quality Control.
• Maintain and stay up to date on knowledge of all applicable regulations, bank policies, secondary market guidelines, and industry changes
• Other related tasks as assigned.

Requirements:

• High school diploma or equivalent.
• Minimum 2 years’ experience in residential lending
• Experience working with secondary market guidelines and portfolio lending.
• Intermediate proficiency using Microsoft Office Suite Products.
• Experience working with automated loan processing and underwriting systems.

Knowledge, Skills & Abilities:

• Knowledge and understanding of loan applications, products and services.
• Ability to communicate and listen effectively.
• Possess problem solving and creative thinking abilities.
• Ability to maintain confidentiality.
• Able to work under deadlines and fluctuating workloads.
• Ability and knowledge to detect red flags may point to fraud.
• Extensive knowledge of applicable secondary market and portfolio lending guidelines and policies.
• Excellent organizational skills and time management ability

Physical Demands: To successfully perform the essential duties of this position, an individual must be able to meet the physical demands listed below. While some absences may be protected by federal, state and/or local laws, regular attendance is an essential function of the job. Reasonable accommodation may be provided to assist individuals with disabilities to perform essential job functions.

Work Environment: The duties of the job are performed on premises and in an office setting.

What We Offer: Based on eligibility, Timberland Bank offers a comprehensive benefits package including medical, dental, vision, 401k, vacation/paid sick leave and other great benefits with employee only. Timberland Bank is a family-friendly employer. Our employees enjoy competitive compensation and an excellent benefits package including:

• Medical, Vision and Dental Insurance
• Paid vacation and holidays
• Paid Birthday Day Off
• Bi-weekly pay periods
• Paid sick leave
• 401k and employee stock ownership plans
• Paid training and advancement opportunities
• Numerous employees only banking benefits

Disclaimer: This job description is intended to describe the general nature and level of work being performed by employees assigned to this classification. They are not intended to be construed, as an exhaustive list of all responsibilities, duties, and skills required of personnel so classified.