What are the responsibilities and job description for the Loan Underwriter - Residential position at Tioga State Bank, N.A?
GENERAL SUMMARY
Responsible for analyzing mortgage loan applications and utilizing lending authority to make credit decisions. Coordinates the loan process for assigned files to ensure all necessary steps are completed properly for closings. Provides guidance to Mortgage Originators regarding mortgage lending.
ESSENTIAL FUNCTIONS/MAJOR DUTIES
- Maintains extensive knowledge of all aspects of conforming and non-conforming residential mortgage lending, including programs sponsored by US Department of HUD, Rural Development Agency, VA, FannieMae and FreddieMac.
- Packages, sells and services secondary market residential mortgages.
- Maintains an accurate awareness of the credit quality of the portfolio(s) and the inherent credit risk.
- Coordinates the loan process for assigned files to ensure all necessary steps are completed properly for closings. Includes directing property appraisals, coordinating necessary documents with attorney and/or title insurance company.
- Analyzes application packages and makes recommendations for approval or rejection of loans within the Bank’s lending policy for consumer credit including credit card, ready credit, installment loans, time notes, small business lending and real estate secured loans including Home Equity Line of Credits.
- Utilizes assigned lending authority and works with Chief Credit Officer for credits over approval limit.
- Oversees the process to keep in contact with loan customers throughout the entire loan process, providing updates to ensure customer service.
- Informs Mortgage Loan Originator of credit decisions with tact and sensitivity. Provides other options if unable to grant requested credit amount and or/product.
- Provides guidance, training and assistance with new procedures and processes to the Loan Operations staff.
- Provides guidance and training for mortgage and consumer lending for all loan officers.
- Serves as an expert in the Bank’s Private Mortgage Insurance (PMI).
DUTIES SUPPORTING ESSENTIAL FUNCTIONS
- Maintains and increases working knowledge of all applicable secondary market (i.e. Fannie Mae) guidelines including job knowledge of automated underwriting systems and software.
- Maintains a thorough knowledge of the features and benefits of all bank retail lending products and services.
- Maintains a working knowledge of bank operating policies and procedures that impact retail lending.
- Stays informed of policies, procedures and regulatory updates and changes impacting the lending function.
- Ensures adherence to consumer and mortgage loan underwriting policies.
- Complies with operating policies and procedures established for the retail lending function.
- Maintains a working knowledge of all applicable software and computer systems.
- Promotes a positive team environment.
- Participates, as necessary, to ensure that the department’s responsibilities are met.
- May assist and/or prepare Onboard installment and real estate mortgage loan documents including preliminary papers, commitment letters and closing documents.
- Reviews files for closings; may be required to attend loan closings with customers.
- May provide direct service to loan customers as appropriate.
- Maintains confidentiality while conducting all assigned tasks.
- Promotes and creates operating efficiencies.
- Performs other duties as assigned.
SCOPE OF POSITION
General Scope:
The nature of the work that is performed involves recurring work with occasional variations from the norm. The incumbent operates from specific and well-known procedures. The incumbent performs duties with minimum supervision.
Contacts:
Contacts are normally made with others both inside and outside the bank. Contacts contain some discussion about confidential/sensitive matters.
MINIMUM QUALIFICATIONS
Job Specific Knowledge, Skills & Abilities:
- Thorough knowledge of the features and benefits of all bank retail lending products and services.
- Working knowledge of bank operating policies and procedures that impact lending.
- Considerable knowledge of all federal and state lending regulations
- Broad knowledge of loan documentation and collateral policies and regulations.
- Ability to interpret and apply laws, policies and procedures.
- Ability to communicate effectively with all contacts; ability to read, write and speak English effectively.
- Ability to perform basic math (add, subtract, multiply, divide, simple analysis).
- Ability to view and analyze problems from different angles, and to identify and solve issues.
- Ability to establish work priorities and remain flexible; ability to efficiently respond in an effective manner to a variety of demands in fast-paced environment. Ability to adapt effectively to change.
- Demonstrated organizational skills, attention to detail, multi-tasking and accuracy skills.
- Strong customer service and interpersonal skills.
- Ability to maintain use of discretion.
- Proficient computer skills including spreadsheet analysis.
- Demonstrated independent judgment and decision-making abilities.
Education and/or Experience:
- High school diploma or equivalent required.
- Minimum four (4) years experience in related positions normally required.
- Associates degree in a related field of study normally required
- Bachelors degree in a related field of study preferred.
Working Conditions:
- Subject to frequent interruptions.
- Travel between all Bank office locations.
- Additional travel for training, seminars, etc.
- Extensive time spent viewing a computer screen
- Subject to prolonged periods of time in a seated position
- Subject to extended hours; some evening meetings
Veterans / Disability
Salary : $30 - $38