POSITION SUMMARY:

Under limited direction, examines, analyzes and evaluates mortgage loan applications, corresponding documents, records and other relevant data to determine loan quality and conformity with internal lending specifications and government regulations.  This includes an analysis of debt and loan-to-value ratios, credit scores, property values and other data.  Works closely with lending personnel and customers to assist in qualifying loans during the approval process.  Approves or rejects residential loan applications within limits of authority and clearly communicates the reasons for decisions to lending personnel and customers.

ACCOUNTABILITIES:  ***

Service                                                 85%

• Performs full review of mortgage loans in accordance with underwriting guidelines ensuring secondary market salability, investor salability, or recommending in-house portfolio financing.  This review includes:
  
  
  
  
  1. Compute debt-to-income ratios
  
  
  2. Compute loan-to-value ratios
  
  
  3. Complete credit approval checklist, URAR appraisal review
  
  
  4. Updates application
  
  
  5. Update transmittal summary
  
  
  
  


• Underwrites loan requests as the files are received. 


• Underwrites loan to conform with regulatory guidelines and loan product guidelines.


• Prepares appropriate documentation pertaining to lending decisions.
  
  
  
  1. Commitment letter
  
  
  2. Counteroffer letter
  
  
  3. Adverse action notification
  
  
  4. Loan approval
  
  
  5. Report of loan made
  
  
  
  


• Discusses lending decisions with originator and/or customer.


• Reviews and recommends the approval of loans with loan amounts exceeding lending authority.


• Determines and assigns the Private Mortgage insurance Company to a file requiring private mortgage insurance and ensures that file meets the company’s guidelines and coverage is sufficient to meet the minimum of the bank’s requirement for coverage.


• Remains current on FHLMC, PMI, Investor, FMHA, USDA, FHA, VA requirements and industry trends.


• Reviews and responds to management regarding quality control exceptions on a monthly basis.


• Answers and resolves routine and non-routine inquiries and problems regarding applications and underwriting procedures from production personnel, originators, and customers.


• Underwrites more complex files (i.e., self-employed borrowers, high LTV, investment properties).


• Interprets and converts to policy all investor/secondary market/PMI guideline changes.


• Analyzes financial information and references for the approval of builders, appraisers and condo/PUD projects.


• Assists in research for preparation of manuals, memos, comparison charts, and other projects as assigned by supervisor.


• Assists in loan closings with review of commitment conditions prior to closing.


• Notifies customers with derogatory credit of the appropriate credit bureau to contact for assistance.


• Becomes an approved Delegated Underwriter for Private Mortgage Insurance.


• Registers annually with the National Registry Service providing the required information and authorization to bank management to complete fingerprinting and a background check, according to the requirements of the SAFE Act for all Mortgage Loan Originators (MLO).  Complies with the spirit and intent of this regulation by providing the resulting identifying number on all bank correspondence, loan documents, and communications with mortgage loan applicants.


• Assumes additional responsibilities as directed.

Sales:                                                       10%

• Expands bank’s customer base, increases the bank’s visibility and enhances new business opportunities by prospecting potential customers, participating in the officer call program, fostering business relationships with realtors, and participating in community affairs.


• Cross-sells bank products by answering inquiries; informing customers of new services and product promotions; ascertaining customers’ needs; directing customers to a branch representative.

Other Duties:                                        5%

• Maintains customer confidence and protects bank operations by keeping information confidential.


• Contributes to team effort, working with other bank officers, to accomplish related results related to the goals of the bank.

• Participates in civic and community activities to generate visibility and contact for the bank.

• Maintains professional and technical knowledge by attending educational workshops, reviewing professional publications, establishing personal networks, and participating in professional societies.


• Attends mandatory compliance and security sessions.  Monitors daily work for adherence to compliance and security regulations, policies/procedures, and promptly corrects any deficiencies.

***  % is based on average of all positions; some %’s may vary dependent upon the location

COMPETENCIES:

Judgment/Decision Making

• Considers the relative costs and benefits of potential actions to choose the most appropriate one.

Critical Thinking

• Uses logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.

Compliance/Banking Regulations

• Uses relevant information and individual judgment to determine whether events or processes comply with laws, regulations or standards.

Analyzing Data or Information

• Identifies the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.

Verbal/Written Communication Skills

• Provides information to customers outside the organization, supervisors, co-workers, and subordinates clearly and concisely in writing, by telephone or through e-mail.

Documenting/Recording/Processing Information

• Enters, transcribes, records, stores or maintains information in written or electronic/magnetic form.

Obtain/Process Information

• Obtains information from relevant sources and compiles, codes, categorizes, calculates, tabulates, audits or verifies information or data.

Interpretation of Information to Others

• Translates or explains what information means and how it can be used.