Mortgage Loan Underwriter presso Wayne Bank

POSITION SUMMARY:

Performs a wide range of duties related to the underwriting of residential first and second mortgage loans. Renders underwriting decisions and subsequent clearing conditions to ensure credit quality and guidelines are met.  Proactive in communicating the decisions to the Loan Originators, as well as serving as a resource to residential mortgage team on underwriting questions.  Handles complex underwriting decisions requiring senior knowledge and/or unique problem-solving abilities.

Responsible and accountable for risk by openly exchanging ideas and opinions, elevating concerns, and following policies and procedures as defined.  Accountable for always doing the right thing for customers and colleagues and ensuring the actions and behaviors drive a positive customer experience.   While operating within the bank’s risk appetite, achieve results by consistently identifying, assessing, managing, monitoring, and reporting risks of all types.

 ESSENTIAL FUNCTIONS:

• Utilize all systems in place, including loan origination system and automated underwriting system, to underwrite files in a timely manner.
• Underwrite residential mortgage loans, portfolio loans, construction, term home equity and home equity line of credit (HELOC), within assigned lending authority to applicable guidelines of insuring and guaranteeing agencies, second market investors, and/or Wayne Bank credit policies.
• Underwrite multiple loan types and/or loans with highly complex income and loan scenarios using Desktop Underwriting (DU) findings or manual underwriting processes.
• Examine documentation provided by borrowers and third-party verification sources for validity and compliance with DU findings and/or manual underwriting standards.
• Review property appraisals to ensure collateral acceptability in accordance with corporate, agency and investor standards.
• Review fraud reports and condition loans appropriately for resolution of issues.
• Manage expected service levels related to decision and condition clearing.
• Update information on processing and underwriting systems to verify, add, delete, or waive conditions.
• Prepare necessary documents for files that need a loan exception, for approval, as needed.
• Send loan exception documents (application, credit report/disclosure and loan approval with all supporting documents) to assigned staff to report to Wayne Bank Board of Directors.
• Issue loan approvals, reviews and clear underwriting conditions.
• Issue Notice of Incompleteness (NOI), when needed.
• Contact Loan Originator(s) and Loan Processor(s) with the decision on the loan immediately after underwriting the file.
• Issue loan denials and forward for final review.
• Respond promptly to questions from Mortgage Loan Originators, Mortgage Processors, Closers and others regarding underwriting decisions and/or conditions and/or general policy and scenario questions.
• Perform second review of denied loans.
• Export adverse action files to Director.
• Post QC files after closed loan have been exported to Director.
• Mange construction loan inspections and disbursements
• Perform other duties and responsibilities which uphold the mission and vision of Wayne Bank.

 EDUCATION AND EXPERIENCE: 

• Bachelor’s degree or a combination of education and mortgage experience would be preferred.   
• 3+ years Mortgage Underwriting experience desired
• Previous banking experience with an emphasis on mortgage loan processing, operations, origination, closing and/or servicing is preferred
• Thorough knowledge of DU
• Experience with Encompass or MortgageBot preferred.
• Proficient with Microsoft Office suite including Excel, Word and Outlook.
• Demonstrated experience in analyzing complex loan requests
• In-depth knowledge of, and practical experience with, mortgage lending guidelines
• Knowledge of the complete mortgage lending process

COMPETENCIES

• Interpersonal Relationships – Maintains stable performance and emotional control when faced with opposition and pressure from others and/or stressful conditions.
• Communication – Asks questions as necessary for clarification purposes; keeps other accurately informed; handles all communication in a timely manner; keeps communication confidential; communicates good and bad news in a professional manner; explains decisions and considers additional information presented by Mortgage Loan Originators or others.
• Attention to Detail – Provides accurate and consistent paperwork, is thorough in accomplishing tasks, monitors and checks work or information.
• Collaboration – Develops cooperation and teamwork while participating in a group of people, working toward the same solution to benefit all involved parties.
• Planning and Organization – Organizes time and resources efficiently; manages multiple tasks; meets deadlines consistently.
• Customer Centric – Considers the impact of internal and external customers when carrying out one’s own job tasks.  Demonstrates appropriate sense of urgency and responds to situations requiring special attention or action to meet customers’ needs.
• Reliability – Completes all assigned tasks on time and with minimal supervision; is punctual, present for work and accessible; fulfills commitments made to co-workers and supervisors; informs appropriate individuals when assigned tasks will not be completed in agreed upon time frame.

PHYSICAL DEMANDS/WORK ENVIRONMENT REQUIREMENTS:                                                                                                              

The physical demands and work environment of this position are typical of an interior/office work environment with limited physical effort required and no or very limited exposure to physical risk.

• Sufficient clarity of speech and hearing or other communication capabilities, with or without reasonable accommodation, permits the employee to communicate effectively.
• Sufficient vision or other powers of observations, with or without reasonable accommodation, which permits close vision, distance vision, color vision, peripheral vision, depth perception, and the ability to focus.
• Sufficient manual dexterity with or without reasonable accommodation, which permits the employee to operate a personal computer and related office equipment.
• Sufficient personal mobility and physical reflexes, with or without reasonable accommodation, which permits the employee to function in the context of the position to include but not be limited to: lifting and carrying up to 50 pounds, moving, stooping, bending, reaching, pushing, pulling; repetitive motion; prolonged standing and/or sitting; and the capability to travel independently. 
• Environmental conditions include those risks normally associated with the context of an office environment and exposure to weather conditions when/if traveling on business and/or attending outdoor community events. The office noise level is usually minimal. 

The above statements are intended to describe the general nature and level of work being performed by the incumbent assigned to this classification. They are not intended to be construed as an exhaustive list of all responsibilities, duties and/or skills required of all personnel so classified. Duties, responsibilities, and activities may change or new ones may be assigned at any time with or without notice.  Wayne Bank promotes an equal employment opportunity workplace which includes the consideration of a reasonable accommodation of otherwise qualified disabled applicants and employees. This job description does not create an employment contract, implied or otherwise, other than the employment-at-will relationship.

EQUAL OPPORTUNITY EMPLOYER