Retail Underwriting Specialist

BANK FIRST•Manitowoc, WI

11d•Onsite

About The Position

The Retail Underwriter is responsible for evaluating, reviewing, and approving retail loan applications to ensure compliance with internal policies and investor guidelines. This role requires a strong understanding of credit risk assessment, regulatory requirements, and documentation standards. The underwriter will collaborate with loan officers, processors, and other internal stakeholders to deliver accurate and timely lending decisions.

Requirements

2+ years of experience in consumer or retail loan underwriting.
Strong knowledge of credit analysis, lending regulations, and underwriting procedures.
Proficiency in loan origination and underwriting systems.
High attention to detail with strong analytical and decision-making skills.
Excellent communication and interpersonal skills.
Ability to manage multiple priorities in a fast-paced environment.

Nice To Haves

Bachelor’s degree in finance, business, or a related field preferred; equivalent work experience may be considered.

Responsibilities

Ensure consistent application of fair lending practices in all underwriting decisions.
Review and approve in-house policy monitoring cases, exceptions, loan modifications, and pre-qualification/pre-approval requests.
Validate in-house rates using the risk rating sheet; obtain necessary approvals for deviations and maintain tracking documentation.
Process Fannie Mae rate and loan commitments; set and publish daily interest rates.
Calculate borrower income and assess creditworthiness per investor and internal guidelines.
Evaluate retail appraisals and address discrepancies with the appraisal reviewer.
Underwrite retail mortgage and consumer loans for both portfolio and secondary markets.
Monitor loan pipeline and software alerts daily to ensure timely processing.
Review loan files for completeness and compliance with Fannie Mae and internal policies.
Run and reconcile final Desktop Underwriter (DU) and Early Check reports; ensure data integrity.
Identify and communicate closing conditions to Loan Officers for all retail loans.
Review active Fannie Mae loans for timely PMI cancellation.
Support pre-close and post-close QC audits; review and resolve audit findings.
Maintain Fannie Mae Quality Assurance submissions and documentation.
Assist with condo loan applications and manage project eligibility through the Fannie Mae portal.
Respond to Loan Officer inquiries by referencing internal policies or consulting Fannie Mae directly.
Stay current on Fannie Mae announcements; communicate product or guideline changes to Loan Officers.
Submit PMI requests, ensure accurate data entry, and retrieve insurance certificates.
Perform additional as assigned.