What are the responsibilities and job description for the Mortgage Underwriting Specialist position at West Michigan Community Bank?
SUMMARY
Performs a wide ranges of duties related to the underwriting of residential mortgages. Renders an underwriting decision and subsequent clearing conditions to ensure credit guidelines are met. Proactive in communicating the decision to the Loan Originator, as well as a resource to Residential Mortgage personnel on any underwriting questions. Assists in training new hires. Functions as escalation point for decisions requiring higher authority or unique problem solving to make the loan work.
ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Other duties may be assigned.
Utilize systems in place, including automated underwriting to underwrite files in a timely manner.
Underwrite conventional and portfolio loans, in addition to assisting in FHA/VA loans, until such delegation is provided.
Manage expected service levels related to decision and condition clearing.
Update information on processing and underwriting systems to verify, add, delete or waive conditions.
Contact Loan Originators with the decision on the loan immediately after underwriting the file.
Provide feedback to other staff and loan officers.
Demonstrate leadership skills as a team player by providing superior customer service, being flexible and approachable.
Responsible for appropriate section of HMDA worksheet.
Review exception report to ensure completion of all tasks.
Maintain knowledge of WMCB policies and procedure, in addition to private investors, government investors and portfolio Credit policy and Guidelines.
Maintains a working knowledge of new governmental regulations and real estate laws, in addition to all company products, systems, operational procedures and policies. Stays up-to-date with any policy changes within the company.
Adherence to all applicable compliance regulations. Works in conjunction with senior management to ensure proper knowledge of all relative compliance topics, monitor activities and report issues. Follow directions from management and Chief Compliance Officer for resolution of issues.
Responds to and resolves systems problems and questions from users throughout the department for all loan systems. Maintains user passwords for mortgage related vendors.
Participates in the design of user modifications, enhancements and new technologies. Addresses system testing if new product developments and system releases. May serve as vendor manager for all systems related vendors.
Manages report system to generate all weekly, monthly, quarterly and annual reports for the retail lending area. Works with management to develop new reports as needed.
Participates in New Products Implementation Committee and other department committees as needed. Assist with developing and maintaining system, processing and other mortgage related manuals.
Essential Skills to Perform the Job
Knowledge of conventional and government underwriting guidelines
Knowledge of the complete mortgage lending process
High degree of attention to detail
Knowledge of federal lending regulations governing real estate lending
Knowledge of financial analysis techniques
Demonstrated leadership skills
Proven computer skills
Demonstrated organizational skills
Demonstrated teamwork and customer service skills
Ability to make decisions in a time sensitive manner
This position may require SAFE Act registration at the time of employment through the Nationwide Mortgage Licensing System (NMLS). The NMLS web site (mortgage.nationwidelicensingsystem.org) provides the MU4R questions and registration required for the employment in this position.
EDUCATION and/or EXPERIENCE
Bachelor's degree (B. A.) from four-year college or university; or three to five years related experience and/or training; or equivalent combination of education and experience.
West Michigan Community Bank is an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, protected veteran status, status as a qualified individual with disability, sexual orientation, gender identity or any other characteristic protected by law.
Job Type: Full-time
Benefits:
- 401(k)
- 401(k) matching
- Dental insurance
- Employee assistance program
- Health insurance
- Life insurance
- Paid time off
- Tuition reimbursement
- Vision insurance
Work Location: In person