Senior Mortgage Underwriter

Bankers•Madison, WI

3d•Onsite

About The Position

Bankers' Bank is seeking a Senior Mortgage Underwriter at our Madison, WI office. This role is responsible for reviewing underwriting documents from correspondent banks to determine the viability of loans presented for final decision. The Senior Mortgage Underwriter will independently interpret and discuss results from automated underwriting systems with customer banks and provide direction to internal staff. This position will also assist in the mentorship and training of Underwriting and Processing/Closing staff, and provide back-up to Mortgage Operations leadership as needed.

Requirements

3+ years of automated underwriting systems such as Desktop Underwriter, Desktop Originator, Loan Product Advisor, Guaranteed Underwriting System or related experience.
3+ years of underwriting mortgage loans, including appraisal review, per secondary market, government, and private investor guidelines.
Demonstrated knowledge of FNMA and Rural Development/USDA underwriting guidelines.
Demonstrated ability to interpret and evaluated various mortgage insurance programs.
Demonstrated ability to respond to internal and investor audit demands.

Nice To Haves

Certified Lender Appraisal Program (LAPP) or Veteran Affairs (VA) Underwriter
Actively underwriting VA loans and issuing Notice of Value (NOV) within guidelines
Encompass loan origination system experience

Responsibilities

Complete preliminary underwriting related to conventional, portfolio, USDA/RD and VA loan requests to determine required documents to meet secondary market and regulatory standards within designated timeframe using appropriate automated underwriting systems.
Input data into automated underwriting systems and translate required documentation to customer banks.
Responsible for review and decisioning of individual mortgage loan requests using conventional, portfolio and government lending requirements for requests up to 100% loan to value (LTV).
Review and decisioning of partner bank employee mortgage loan requests.
Review credit reports, income/employment documentation, asset documentation, offer to purchase, personal and business tax returns (to include S-Corp, Partnership, Schedule C, E, F income sources), appraisals, title work, pre-close credit reports and other applicable loan documentation.
Review, analyze, underwrite and approve complex individual consumer requests, including USDA/RD, VA, Jumbo and bank portfolio loan requests using applicable investor lending requirements.
Determine and document loan conditions and communicate requirements and/or decisions.
Identify, recommend and/or negotiate alternative loan requirements, funding and/or loan-structuring solutions.
Examine transactions to ensure accuracy and completeness, agency guidelines.
Underwrite the decision for at least two (2) new files per day.
Review incoming documentation on suspended loans within 48 hours of receipt.
Provide timely and cooperative response to internal audit requests.
Available to answer customer inquiries as well as internal bank employee questions and available for department customer inquiry phone rotation.
Monitor underwriting and pre-qualification inboxes at least two days per week.
Assist leadership with daily workflow management and report distribution and attend in person department meetings as requested.
Assist leadership with audit responses to GSE's, private investors and mortgage insurance companies.
Participate in receipt of and response to inbound bank customer service calls.
Monitor and follow-up with customer banks when loans are pended for underwriting information.
Assist as back-up to other areas of the department.
Acts as a training resource for Associate Underwriters and Underwriters, Processors and Closers through various collaboration channels; in person, email & via phone.
Responsible for providing guidance and direction of daily workflow to leadership.
Assists leadership with daily workflow management and report distribution.