Residential Mortgage Underwriter III

Bangor Savings Bank • Portsmouth, NH

138d

About The Position

The Underwriter position at Bangor Savings Bank involves working under the direction of the Underwriting Manager(s) to underwrite residential mortgage and consumer applications according to secondary market/investor requirements, bank policies, and all relevant regulations. The role requires a detailed review and analysis of documentation to assess the overall risk profile and make informed credit decisions. The position is divided into three levels: Underwriter I, Underwriter II, and Underwriter III, each with increasing responsibilities and requirements. Underwriters are expected to maintain knowledge of loan product guidelines, communicate effectively with lending officers, and ensure compliance with agency and regulatory requirements.

Requirements

• High school diploma or equivalent for Underwriter I.
• 2-3 years of mortgage documentation/regulatory experience for Underwriter I.
• 3-5 years of residential and/or consumer lending underwriting experience for Underwriter II.
• Minimum of 5 years of residential lending underwriting experience for Underwriter III.
• DE or SAR/LAPP certifications preferred for Underwriter III.
• Ability to work independently and strong analytical skills.
• Experience with Encompass Loan Origination System or ACTion is a plus.
• Proficiency with Microsoft Office products such as Word and Excel.
• Excellent direct customer service skills.

Nice To Haves

• College diploma preferred for Underwriter III.
• Experience underwriting FHA, VA, USDA, Construction, non-Conforming portfolio Jumbo Programs, and state housing.

Responsibilities

• Perform a detailed review of residential mortgage and consumer loan applications and documentation.
• Analyze documentation including credit reports, income and asset documentation, and collateral.
• Register applicable loans with Federal Housing Administration or Veteran Administration.
• Communicate and document loan files with any missing information and questionable findings.
• Make consumer credit decisions within set limits and communicate results to the Lending Officer.
• Prepare mortgage and consumer files with all needed documentation and services.
• Complete all required initial regulatory documentation and electronically send to customers.
• Document discrepancies and missing information for the underwriting team.
• Run, read, and interpret fraud results to clear conditions or alert underwriters of issues.
• Process Consumer Employee Benefit Loans approved through Human Resources.
• Approve or reject loans within prescribed authority for Underwriter II.
• Prepare presentations for Senior Management for loans exceeding lending authority.
• Mentor new underwriters and conduct reviews of their work for Underwriter III.
• Lead team projects and initiatives as a subject matter expert.

Benefits

• Internal and external training opportunities.
• Tuition reimbursement.
• Holistic health and wellness programs.
• Pay, rewards, recognition, and incentive programs.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Education Level: High school or GED
• Number of Employees: 501-1,000 employees