Dynamic Mortgage Underwriter – Secondary Market Expert

First Federal Bank of LA; Lake Charles (LA); On-site; USD 55,000 - 75,000; Full time

Job summary

First Federal Bank of Louisiana is seeking a Mortgage Underwriter in its Secondary Market/Underwriting Department at the Main Office in Lake Charles, Louisiana. The role involves reviewing mortgage applications, appraisals, and related documents to determine creditworthiness.

In conjunction with loan officers, you will approve or deny loans, clear conditions, and ensure compliance with FNMA, FHA, VA, RH, PMI, and bank guidelines.

Qualifications

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

Responsibilities

• Reviews real estate applications according to FNMA, FHA, VA, RH, 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 systems/databases as required.
• 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 or 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.
• Orders Certificate of Eligibility for veterans on all VA loans using the VA Online Portal; obtains VA Loan Guarantee on all VA loans.

Skills

Loan underwriting experience

Education

Associate's degree or equivalent in business-related field

Job description

First Federal Bank of Louisiana is seeking a Mortgage Underwriter in its Secondary Market/Underwriting Department at the Main Office in Lake Charles, Louisiana. The role involves reviewing mortgage applications, appraisals, and related documents to determine creditworthiness.

In conjunction with loan officers, you will approve or deny loans, clear conditions, and ensure compliance with FNMA, FHA, VA, RH, PMI, and bank guidelines.