Mortgage Loan Underwriter
About The Position
The Mortgage Loan Underwriter analyzes and interprets mortgage loan credit and appraisal documents to determine whether loans comply with applicable guidelines, including those from Fannie Mae, the Federal Housing Administration, the Veterans Administration, Kentucky Housing Corporation, Rural Housing, private investors, portfolio lending, regulators, and Qualified Mortgage underwriting standards. The position assists mortgage lending staff with questions about loan acceptability, keeps staff informed about investor guideline changes, and helps with training as needed. The role performs detailed file analysis and risk assessment, verifies information, investigates and resolves discrepancies, and makes loan acceptance or denial decisions. It also reviews files recommended for denial to assess whether approval may be possible and helps mortgage personnel interpret product guidelines, required documents, and changes to approval conditions. The position may be performed from home after a training period, with required attendance at the Louisville office once a month. Hours of operation are Monday through Friday, 8:00 a.m. to 5:00 p.m., totaling 40 hours per week; hours may vary during high-volume periods.
Requirements
- High school diploma or GED.
- 1–2 years of experience approving or denying mortgage loan files based on department and investor guidelines.
- Proven knowledge and experience with FHA, VA, and conventional loan processing.
- FHA Direct Endorsement (DE) authority.
- Strong knowledge of underwriting guidelines and ability to interpret them accurately.
- Knowledge of various Automatic Underwriting Systems.
- Detail-oriented, assertive, and able to communicate verbally effectively.
- Strong problem-solving skills.
- Ability to work well with others and perform in a fast-paced, high-pressure environment.
Responsibilities
- Analyze mortgage loan credit and appraisal documents for conformity with applicable investor, agency, regulatory, and Qualified Mortgage guidelines.
- Perform in-depth loan file analysis and risk assessment, verify information, investigate omissions and discrepancies, and research and resolve discrepancies.
- Interpret FHA, VA, FNMA, and other applicable guidelines and decide whether to accept or deny loans; remain accountable for decision accuracy.
- Analyze mortgage files recommended for denial to determine whether an approval decision may be possible.
- Assist mortgage loan personnel with interpreting product guidelines, required loan documents, and changes to approval conditions.
- Keep mortgage staff informed of investor guideline changes.
- Assist with staff training as necessary.
- Comply with departmental and Bank policies and investor guidelines, and support regulatory compliance and the Bank’s mission, vision, and philosophy.
Benefits
- 401(k) with company match of up to 6%.
- ESOP employer match.
- Medical insurance.
- Dental insurance.
- Vision insurance.
- Cancer/disease insurance.
- Accident insurance.
- Flexible Spending Accounts.
- Flexible Savings Accounts.
- Health Savings Accounts.
- Bank-paid life/AD&D insurance.
- Voluntary life/AD&D insurance.
- Bank-paid short-term and long-term disability insurance.
- Employee Stock Purchase Plan.
- Employee Assistance Program.
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What This Job Offers
Job Type
Full-time
Education Level
High school or GED
