Underwriter

First Federal Bank of Louisiana•Lake Charles, LA

16d•Onsite

About The Position

First Federal Bank of Louisiana is currently seeking a Mortgage Underwriter in their Secondary Market/Underwriting Department, located at their Main Office in Lake Charles, Louisiana. About Us First Federal Bank of Louisiana is a full-service, locally owned community bank that has helped build the communities we serve for over 75 years. With over one billion dollars in assets and 16 offices currently serving multiple parishes across Southwest and Central Louisiana, we are proud to offer our customers comprehensive retail and commercial products as well as investment services to meet all of their financial needs. Empowering people and places to realize and attain their dreams is what our community-first banking is all about, and that’s what our team strives to do in the communities we serve each and every day. Visit Position Summary In conjunction with loan officers, approves or denies mortgage loans through the evaluation of mortgage applications.

Requirements

Associate's degree or equivalent from a two (2) year college or technical school in a business-related field
Minimum of two (2) years related loan underwriting or processing experience with a financial institution

Responsibilities

Reviews real estate applications according to FannieMae (FNMA), FHA, VA, Rural Housing (RH), Private Mortgage Insurance (PMI), Secondary Market, Special Programs and Bank guidelines, to determine credit worthiness of loan applicants
Reviews appraisals for completeness, consistency and accuracy in arriving at a valuation; enters data in appropriate systems/databases, if necessary and as required by regulation
Prepares exception sheets, evaluation analysis, loan submission sheets, etc., as required
Reviews all documentation as it is received; clears underwriting exceptions and/or conditions
Suspends loan files that are incomplete; requests additional information from Loan Officers when appropriate
Submits documentation for Private Mortgage Insurance (PMI) approval
Submits documentation to USDA Rural Housing (RH) and loan information for RH approval
Reviews tax transcripts for borrowers on all secondary market loans
Researches all persons involved with the transaction for GSA and Limited Denials through FHA Connection on all secondary market loans
Orders Certificate of Eligibility for veterans on all VA loans using the VA Online Portal
Obtains VA Loan Guarantee on all VA loans using the VA Online Portal
Reviews documentation prior to loan closing including, but not limited to, re-verification of employment/income ten (10) days prior to loan closing
Reviews denied loan files in an effort to confirm the decisions made
Compliance training is assigned to all Bank personnel based on their position with the Bank. Employees are required to complete all assigned training timely and in accordance with Bank policy.