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Residential Mortgage Underwriter
Bangor Savings Bank | Maine, ME
Residential Mortgage Underwriter
Underwrites residential mortgage secondary market and portfolio applications. Interprets relevant data and makes recommendation for approval/denial.
Assists in ensuring that the Bank is in compliance with secondary market standards and all regulatory requirements. Timely completes those Risk Management and Performance Measurement tasks assigned by Management.
- Underwrites residential mortgage, secondary market and portfolio loan applications. Primarily responsible for performing the following:
- Evaluating loan applications and other supporting documentation to ensure that the Bank is adhering to Bank, Secondary Market, and/or Regulatory policies and procedure guidelines;
- Analyzing income documentation, (including tax returns, paystubs, award letters, etc) to determine repayment ability and that the borrowers are within the income guidelines as set forth;
- Review and approve all required third party documentation (appraisals, credit reports, flood certifications, etc) to ensure compliance with the necessary secondary market guidelines;
- Prepares presentations for Senior Management and Management Loan Committee for loans that exceed the approving parties lending authority; and
- Prepares secondary market exception forms for senior management, if necessary.
- Communicates lending decisions through the preparation of commitment letters and/or required adverse action notifications.
- Assumes responsibility for ensuring that the Bank is in compliance with secondary market standards and all regulatory requirements
- Decisions conventional and portfolio pre-approvals and communicates the decisions to the borrowers and lenders via pre-approval letter or adverse action notice
- Responsible for staying current on secondary market guidelines
- Works with management in creating efficiencies and making the department more effective.
Compliance and Control:
- Assists in ensuring that the Bank is in compliance with local, state and federal regulations
- Interacts harmoniously and effectively with others, focusing upon the attainment of bank goals and objectives through a commitment to teamwork.
- Conforms to acceptable punctuality/attendance standards as expressed in the Employee Handbook.
- Performs additional duties as requested.
- Adaptability/Flexibility - Adapts to change, is open to new ideas, takes on new challenges, handles pressure, adjusts plans to meet changing needs
- Initiative - Takes independent action, operates as a pro-active self starter, acts on opportunities, practices self development
- Integrity/Ethics - Deals with others in a straightforward, honest manner, is accountable for actions, maintains confidentiality, supports company values, conveys news good or bad
- Interpersonal Skills - Has good listening skills,
- Vision/Values - Supports company mission/values through daily actions and decisions, communicates the Bank's vision, mission and values to others, incorporates vision when planning
Knowledge/Skills & Experience Requirements:
- High school diploma or equivalent
- College, business, banking, or professional training helpful
- Two years of lending/underwriting experience or equivalent
- Ability to handle complex problems
- Ability to work independently
- Proficiency with Microsoft Office products such as Word and Excel
- Excellent customer service skills
- Strong communications skills, verbal and written
Physical Demands/Conditions Requirements:
- General office environment.
- Moderate lifting (to 35 lbs.) required. Moderate reaching, walking, sitting and standing required.
- General office equipment.
External and internal applications, as well as position incumbents who become disabled, must be able to perform the essential functions (as listed) either unaided or with the assistance of a reasonable accommodation to be determined by management on an individual basis.