Senior Mortgage Underwriter

Hancock Whitney Bank•New Orleans, LA

About The Position

The Senior Mortgage Underwriter approves or denies mortgage loans and reviews applications for completeness, product-guideline compliance, and adherence to regulatory and legal requirements. The role underwrites conventional, FHA, VA, Rural Housing Development, and portfolio loans; evaluates borrower, property, and loan information; and determines the terms and risk acceptability of prospective business. The underwriter also communicates approval requirements and file status, maintains accurate loan records and systems, and supports a second-review process for denied loans. No supervisory responsibilities are assigned.

Requirements

A bachelor's degree and 2+ years of related experience, or an equivalent combination of education and experience.
FHA DE designation required.
Ability to travel if required to perform essential job functions.
Ability to work under stress and meet deadlines.
Ability to operate related equipment, and to read and interpret documents, as required to perform essential job functions.
Ability to lift, move, or carry approximately 10 pounds if required to perform essential job functions, subject to accommodation.

Nice To Haves

6+ years of experience preferred.
VA LAP designation preferred.

Responsibilities

Underwrite conventional, FHA, VA, Rural Housing Development, and portfolio loans.
Ensure appraisals meet investor and bank requirements and that value conclusions are reasonable and well supported.
Review employment, income, and asset documentation for accuracy and compliance with investor requirements.
Review credit history and scores to determine whether borrower credit meets investor requirements.
Review documents and information for potential fraud, misrepresentation, and regulatory compliance.
Evaluate mortgage loan documents to determine whether the buyer, property, and loan conditions meet institutional and government standards.
Evaluate whether loans are acceptable to corporations that purchase real estate loans on secondary mortgage markets.
Approve or reject loan applications or request additional information.
Record loan rejections, including the applicable investor and institutional guidelines and the basis for declining an application.
Determine terms and assess the acceptability of risk for prospective business.
Set prices for prospective mortgage loan applicants.
Assemble loan-file documents, including acceptance or denial, and return files to the originating mortgage loan office.
Maintain a database of new and existing business.
Manage and use systems to ensure they accurately reflect loan requests and information, including the current loan origination system and investor conduit systems.
Communicate and coordinate approval requirements and file status with originators, processors, closers, Realtors, builders, and other appropriate parties.
Participate in implementing a second-review committee for denied loans.