Mortgage Loan Underwriter

Central Bank • Sioux Falls, SD

7d

About The Position

The Mortgage Loan Underwriter (MLU) is responsible for analyzing, evaluating, and recommending approval or denial of mortgage loan applications in accordance with conventional lending guidelines, secondary market standards, and Bank policies. The underwriter ensures accuracy, compliance, and consistency in loan decisioning.

Requirements

• Bachelor’s degree required or equivalent work experience
• Minimum of two (2) years of experience in similar job duties

Nice To Haves

• Underwriting Certification strongly desired.
• Direct Endorsement (DE) designation preferred

Responsibilities

• Evaluate mortgage loan applications for completeness, accuracy, and compliance.
• Analyze borrower credit reports, income documentation, tax returns, assets, employment and other borrower documentation to determine repayment ability and creditworthiness.
• Validate and assess Automated Underwriting System (AUS) findings for accuracy, completeness and compliance.
• Ensure all documentation required by AUS findings is present and sufficient
• Assess collateral by reviewing property appraisals and valuations.
• Ensure loans meet investor, secondary market, and Bank policy requirements.
• Verify documentation accuracy and regulatory compliance prior to loan closing.
• Identify red flags, inconsistencies, or potential fraud.
• Issue conditional approvals, suspensions, or denials with clear documentation.
• Communicate underwriting decisions in writing and verbally to loan officers and processors and closers.
• Provide guidance to processing and sales teams on structuring loan files.
• Partner with loan officers to create competitive and compliant loan packages.
• Work with processing and closing teams to ensure all loan conditions are satisfied.
• Respond to audits, quality control reviews, and regulatory examinations.
• Independently approve or deny FHA and VA loans under DE 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 comply with ongoing training and recertification requirements.
• Perform other related duties and responsibilities as assigned by management.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level