Retail Lending Underwriter III

Bangor Savings Bank•Portsmouth, NH

28d•Onsite

About The Position

This role involves underwriting residential mortgage and consumer applications according to secondary market/investor requirements, Bank policy, and all relevant regulations. The underwriter analyzes data and documentation to assess risk and make sound credit decisions. This position requires a deep understanding of various loan products, including Construction, Jumbo, FHA, VA, USDA, and State Housing loans, and the ability to qualify borrowers with complex income structures. The Underwriter III also plays a key role in training new underwriters, mentoring loan officers, and serving as a subject matter expert for system and process changes. They will also act as the primary reviewer for denials and disagreements on underwriting decisions.

Requirements

College diploma preferred
Minimum of 5 years of residential lending underwriting experience
DE or SAR/LAPP certifications are preferred
Experience underwriting FHA, VA, USDA, Construction, non-Conforming portfolio Jumbo Programs and state housing
Ability to work independently
Strong analytical skills
Detail oriented
Experience with Encompass Loan Origination System or ACTion a plus
Proficiency with Microsoft Office products such as Word and Excel
Strong communications skills, verbal and written
Ability to handle complex problems
Ability to make risk based lending decisions supported with relevant data and research
Excellent direct customer service skills

Nice To Haves

DE or SAR/LAPP certifications

Responsibilities

Perform underwriting of Construction, Jumbo, FHA, VA, USDA and/or State Housing loans, including a detailed review of residential mortgage loan applications and documentation to ensure compliance with underwriting guidelines.
Analyze all documentation, including credit reports, income and asset documentation, collateral, and fraud prevention tools, to render loan decisions ensuring completeness, accuracy, and compliance.
Accurately qualify borrowers with complex income structures such as Partnerships, S-Corps, C-Corps, Capital Gains, Dividend/Interest, and Rental income.
Assist Mortgage/Consumer Operations Leadership in documenting and implementing new processes.
Responsible for the training of new underwriters and conducting reviews of their work to recommend loan authority.
Mentor Loan Officers in delivering excellence in the loan experience.
Responsible for the continued development of underwriting by mentoring and coaching through unique loan situations and errors identified.
Work directly with investors, agencies, and guarantors to resolve questions, complex issues, and suggest alternatives to common underwriting approaches.
Lead team projects and initiatives, and serve as the subject matter expert on testing of system and process changes.
Serve as the “one-up” for reviewing denials and disagreements on underwriting decisions.
Assist in ensuring that the Bank is in compliance with local, state, and federal regulations.
Interact harmoniously and effectively with others, focusing on the attainment of bank goals and objectives through a commitment to teamwork.
Conform to acceptable punctuality/attendance standards.
Perform additional duties as requested.