Mortgage Loan Underwriter, South Bend, IN

1st Source•South Bend, IN

1d•Onsite

About The Position

Responsible for underwriting residential loans ensuring compliance with lender and investor guidelines. Examines loan documentation for accuracy, completeness and overall credit risk. Works with loan originator or production staff to secure all required documents.

Requirements

Two (2)-three (3) years minimum front-line underwriting experience.
Ability to understand and calculate a wide variety of income and asset holdings, including analyzing tax returns and other complex financial documentation.
Ability to communicate effectively, both verbally and written.
Detail oriented with excellent organizational skills.
Good PC skills --proficiency in Microsoft Word and Excel essential.
Strong quantitative and analytical skills.

Nice To Haves

Five (5) years in mortgage lending preferred.
Self-motivated, ability to work in a fast-paced, high volume environment, while practicing sound lending judgment.
Readily embraces change.
Bachelors’ Degree preferred.
FHA Direct Endorsement Certification and VA LAPP preferred but not required depending on the degree of conforming underwriting experience.

Responsibilities

Underwrites FHA, VA, USDA and Conventional loan applications ensuring adherence to company, agency and investor guidelines.
Underwrites the collateral to include contract and appraisal review for FHA and VA loan applications.
Analyzes mortgage loan files to include income and asset documentation, credit reports, and required disclosures to ensure compliance with applicable Federal and state regulations, and company policies.
Ensures all required documentation has been received and completed properly.
Approves loans according to investor and Bank guidelines up to investor conforming limits and makes recommendations for loan approval by Senior Management when limits are exceeded.
Determines the outstanding conditions needed prior to closing, reviews the conditions and clears the loan to close.
Provides support to Loan Officers, Processors and Closers throughout the process of the loan.
Ensures timely response and follow-up to Quality Control (QC), internal and post-closing audits, and investor audits or requests.
Keeps up to date on investor and regulatory guidelines, policies, procedures and changes that affect mortgage underwriting.
Responsible for the completion of all compliance training related to the position.
Must understand all applicable laws and regulations that apply to the position and complies with the requirements.
Performs all other duties as assigned.