Title: Mortgage Underwriter
Job City/State/Zip: Pittsford, NYÂ 14534Â
Facility: Five Star Bank
Assignment Type: Regular
Position Type: Full Time Position
Pay Rate: $31,993.00 - $54,388.00Â per year
Posted On: 5/14/2008 9:39:33 AM
Job Ref. #: Tobey Village - FT
Function:
The residential mortgage underwriter is primarily responsible for making
prudent lending decisions on first mortgage loan applications and second
mortgage (home equity) loan applications.
Work Performed
Essential Functions:
1. Analyzes applications for real estate loans. Renders a prudent
lending decision based on:
a. secondary market criteria
b. bank policies
c. prudent lending practices that are reasonable and customary in the
industry. Documents all files reviewed with appropriate credit risk
analysis and decision justification. For loans above lending authority
or exceptions to bank policy, prepares the file for presentation to the
Retail Loan administrator and/or Loan Committee considerations. Assures
reasonable examination for the absence of fraud.
2. Is a source for lenders, providing assistance in evaluating or
documenting applicants with special needs or in unusual situations. Is
available to assist in interpreting bank policies and procedures.
3. Provides training and guidance for the credit analyst and the
processing staff. May be asked to develop special training particularly
when regulatory or investor requirements change.
4. Participates in educational and professional activities to further
technical knowledge and expertise, especially in the areas of credit
quality, quality control, appraisal, regulatory compliance, secondary
marketing and fraud detection.
5. Monitors appraisers and other vendor relationships with the bank for
quality service, as requested by management.
6. Sets and clears conditions of the commitment. Clears conditions
requiring underwriter security (on the origination system).
7. May be required to conduct property inspections.
8. Coordinates the mortgage quality control program with its established
vendor.
9. Responds to investor requests for information resulting from their
periodic file reviews.
Non-Essential Functions:
10. Performs other duties as assigned or directed.
Basic Qualifications:
- Bachelor’s degree in business/finance or equivalent experience in a
lending environment
4 years of increasingly responsible experience in retail lending with
emphasis on residential lending
High level of interpersonal skills in dealing with bank staff, customers
and outside vendors
Excellent verbal and written communication skills
Must be organized an able to prioritize work load
Working knowledge of skilled construction trades
Working knowledge of real estate law as it related to loan origination
and closing
Completion of Mortgage Bankers Assoc. courses in appraisal review and
residential underwriting
Thorough knowledge of all bank loan products
Will be required to complete/achieve CORE competencies of position as
set forth on the employee development outline.
Additional Requirements:
Background Check Required: YesÂ
Skills Test Required: Other
Years of Work Experience: 4
Sponsor candidates who are not authorized to work in US: NoÂ
Tags: Banking, mortgage jobs, underwriter job, underwriting
