Underwriter

LED FastStart•Lake Charles, LA

18d•Onsite

About The Position

First Federal Bank of Louisiana is seeking a Mortgage Underwriter for its Secondary Market/Underwriting Department at the Main Office in Lake Charles, Louisiana. In conjunction with loan officers, the position approves or denies mortgage loans by evaluating mortgage applications. The underwriter reviews loan applications and supporting materials against applicable agency, secondary-market, special-program, and bank guidelines; evaluates appraisals and documentation; and handles required approvals and pre-closing reviews. The role requires an associate degree or equivalent from a two-year college or technical school in a business-related field, plus at least two years of related loan underwriting or processing experience with a financial institution. Employees must complete compliance training assigned to their position in a timely manner and in accordance with bank policy. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Requirements

Associate degree or equivalent from a two-year college or technical school in a business-related field.
At least two years of related loan underwriting or processing experience with a financial institution.
Ability to perform each essential duty satisfactorily.

Responsibilities

Review real estate applications under Fannie Mae (FNMA), FHA, VA, Rural Housing (RH), Private Mortgage Insurance (PMI), Secondary Market, Special Programs, and Bank guidelines to determine applicants’ creditworthiness.
Review appraisals for completeness, consistency, and accuracy when determining property valuation; enter data in appropriate systems or databases when necessary and required by regulation.
Prepare exception sheets, evaluation analyses, loan submission sheets, and other required materials.
Review documentation as it is received and clear underwriting exceptions or conditions.
Suspend incomplete loan files and request additional information from Loan Officers when appropriate.
Submit documentation for Private Mortgage Insurance (PMI) approval.
Submit documentation to USDA Rural Housing and loan information for RH approval.
Review borrowers’ tax transcripts on all secondary market loans.
Research all persons involved in secondary market loan transactions for GSA and Limited Denials through FHA Connection.
Order Certificates of Eligibility for veterans on VA loans using the VA Online Portal.
Obtain VA Loan Guarantees for VA loans using the VA Online Portal.
Review documentation before loan closing, including re-verification of employment and income ten days before closing.
Review denied loan files to confirm the decisions made.
Complete position-assigned compliance training in a timely manner and in accordance with Bank policy.