Mortgage & Consumer Underwriter

Central Bank•Sioux Falls, SD

About The Position

The Consumer & Mortgage Loan Underwriter is responsible for evaluating, underwriting, and approving residential mortgage and consumer loan applications in accordance with Bank policy, regulatory requirements, and sound credit practices. This role exercises independent credit judgment to assess borrower risk, structure loans appropriately, and ensure lending decisions align with the Bank’s risk appetite. The position provides flexible underwriting support across retail lending functions, enhancing efficiency and consistency across both mortgage and consumer loan products.

Requirements

Bachelor’s degree preferred or equivalent work experience
Minimum of 4–5 years of experience in similar or related job duties
Relevant certifications encouraged, DE designation preferred
Experience with mortgage underwriting guidelines (FNMA, FHLMC, FHA, etc.) preferred
Consumer underwriting experience required

Nice To Haves

DE designation preferred

Responsibilities

Analyze borrower financial profiles including income, assets, liabilities, and credit history
Evaluate repayment capacity, collateral (if applicable), and overall credit risk exposure
Apply sound credit judgment to determine appropriate loan structure, terms, and conditions
Approve or decline loans within delegated authority and escalate exceptions as needed
Ensure all credit decisions are well-supported, documented, and aligned with Bank policy
Underwrite residential mortgage loans in accordance with investor, secondary market, and Bank guidelines
Validate Automated Underwriting System (AUS) findings for accuracy and completeness
Review income calculations, tax returns, assets, and collateral documentation
Assess property appraisals and valuations for adequacy and risk
Issue clear underwriting decisions, conditions, and stipulations
Partner with processors to resolve conditions and ensure files meet clear-to-close requirements
Underwrite consumer loan products including installment, secured, unsecured, credit cards and other retail products
Evaluate borrower capacity, creditworthiness, and collateral (if applicable)
Structure loan terms and conditions within policy guidelines
Ensure consistency in underwriting standards across consumer loan products
Support efficient processing and decisioning of consumer loan requests
Review and clear underwriting conditions to ensure all requirements are satisfied prior to closing or funding
Manage pipeline across mortgage and consumer loan files, prioritizing based on deadlines and complexity
Maintain consistent turnaround times aligned with service expectations
Provide guidance on documentation requirements and condition resolution
Ensure all underwriting activities comply with regulatory requirements, investor guidelines, and internal policies
Maintain consistency in credit decisions and adherence to fair lending standards
Identify potential risks, inconsistencies, or fraud indicators and take appropriate action
Support audits, quality control reviews, and regulatory examinations
Communicate underwriting decisions, conditions, and rationale clearly to processors and lending staff
Partner across teams to support efficient loan flow and consistent credit practices
Provide guidance on structuring loans within policy guidelines
Identify opportunities to improve underwriting workflows, efficiency, and consistency
Independently approve or deny FHA and VA loans under Direct Endorsement authority
Apply HUD and VA guidelines when reviewing borrower qualifications, property standards, and credit risk
Serve as a subject matter expert for FHA/VA underwriting within the Bank
Maintain DE certification and complete ongoing training and recertification requirements
Perform other related duties and responsibilities as assigned by management.
Assist with training new lenders and staff on consumer and mortgage loan processes, systems, and underwriting expectations