Residential Underwriter

Banesco USA• Miami, FL, US, FL

10d

About The Position

The Residential Underwriter evaluates, analyzes, and assesses consumer mortgage loan applications to determine creditworthiness and approve loans in accordance with Banesco USA’s residential lending guidelines. This newly created position operates in a manual underwriting environment and supports the Residential Lending Credit unit and Sales team by making sound credit decisions, reviewing appraisals, structuring residential portfolio loans, and managing stakeholder relationships to support a smooth, compliant, and efficient lending process. The role manually underwrites domestic, foreign national, and niche residential portfolio loans without relying on automated underwriting systems. It uses Encompass Loan Origination System to review and structure wholesale and retail lending scenarios, and requires strong knowledge of residential credit guidelines and applicable federal and state banking regulations.

Requirements

High school diploma or equivalent experience required.
At least two years of direct experience in residential mortgage underwriting.
At least two consecutive years of tenure with a previous employer.
Strong working knowledge of wholesale lending platforms, pipelines, and residential credit guidelines.
Advanced computer skills, including proficiency in Encompass Loan Origination System and Microsoft Office, including Word and Excel.
Positive attitude and a coachable, collaborative, team-player mindset.
Strong working knowledge of related state and federal banking compliance regulations.
Strong verbal and written communication skills, including the ability to communicate at all organizational levels and manage expectations with the Sales team.
Fluency in English and Spanish, including speaking, understanding, reading, and writing both languages.
Strong attention to detail, accuracy, and analytical skills.
Ability to multitask and demonstrate strong organization, time-management, and prioritization skills to meet strict deadlines.
Ability to understand and comprehend instructions, procedures, and policies and ensure compliance with the Bank’s policies and procedures.

Nice To Haves

Bachelor’s degree in Finance, Business, or a related field.

Responsibilities

Review and manually analyze complete residential credit packages, including borrower credit profiles, income documentation, complex personal and business tax returns, and asset statements, to assess willingness and ability to repay.
Review property appraisals and serve as a subject matter expert on appraisal evaluations, collateral risk, and complex property scenarios.
Manually underwrite and approve residential portfolio loans, including domestic, foreign national, and niche products, without relying on automated underwriting systems.
Use Encompass Loan Origination System to navigate loan files, apply underwriting guidelines, and structure wholesale and retail lending scenarios.
Collaborate with and manage relationships with the Sales team, Loan Officers, Processors, and Credit Leadership, providing solutions for complex loan scenarios.
Render credit decisions, including approval, counteroffer, suspension, or denial, and document underwriting conditions and approvals within regulatory timelines.
Ensure compliance with federal and state banking regulations, including ATR/QM, TRID, HMDA, ECOA, and Florida Homestead requirements.
Communicate with the Sales team to explain credit guidelines and help maintain pipeline momentum.
Complete assigned annual training.
Perform other functions and duties as assigned.