Junior Mortgage Underwriter/Senior Processor

Devon Bank; Chicago (IL); On-site; USD 60,000 - 80,000; Full time

Benefits offered by this job

Health insurance

Dental and Vision

Life Insurance

401(k) with employer match

Voluntary benefits

Job summary

Devon Bank in Chicago is seeking a Junior Mortgage Underwriter/Senior Processor to underwrite 1-4 family residential loans and manage a loan pipeline. You will work closely with branch staff to ensure timely closings and compliance with investor guidelines.

The role requires strong knowledge of mortgage guidelines, proficiency with Encompass, and excellent organizational and time-management skills, with a history in underwriting or processing.

Qualifications

• Five+ years of mortgage experience with underwriting.
• Experience with Encompass operating system.
• Strong organizational and time-management abilities.
• Thorough knowledge of residential mortgage guidelines and regulatory requirements.

Responsibilities

• Underwrite residential 1-4 family mortgage loans per bank policies and investor guidelines.
• Collaborate with branch staff and operations to maintain loan quality and timeliness.
• Review income, assets, and debts on 1003; ensure accuracy and compliance.
• Clear conditions within required time frames and coordinate with loan officers as needed.
• Verify appraisals, title work, and third-party services for compliance.
• Maintain accurate file organization and status logs in Encompass.
• Monitor regulatory compliance throughout the processing cycle.
• Communicate effectively with customers to provide updates and set expectations.

Skills

Mortgage underwriting

Time management

Organizational skills

Regulatory knowledge

Tools

Encompass

Job description

At Devon Bank, we don’t just accept diversity— we celebrate it, we support it, and we thrive on it for the benefit of our employees, our customers and our community. We provide a welcoming and accepting culture that comes from our desire to make diversity, respect and service a priority.

We are searching for a Junior Mortgage Underwriter/Senior Processor to add to our team. If you have a desire to succeed and help customers, then Devon Bank is the place for you! In addition to a rewarding career in banking, we also provide a competitive salary and comprehensive benefits package.

In this role, you will be responsible for underwriting residential 1- 4 family mortgage loans in accordance with the bank’s policies and procedures and all applicable agency and investor guidelines. In addition to providing underwriting, you will also carry a pipeline of loans in which you will act as the processor.

Junior Underwriter Responsibilities

• Complete thorough review of file and adherence to product/investor guidelines.
• Identify risk factors and formulate sound underwriting conclusions that adhere to investor requirements.
• Review of signatures and early disclosure compliance; ensure we are in compliance with all applicable agency regulatory requirements
• Verification of loan officer calculations, and making corrections to income, assets, and debts on the 1003 as files are reviewed
• Review and clearing of conditions within time frames.
• Review of property valuation/appraisals to ensure compliance with investor and regulatory guidelines
• Review of title work, Power of Attorney and Trusts
• Responsible for ensuring final AUS, 1003 and 1008 match underwriting conditions
• Assist and support operations and branch staff as needed (research of guidelines, calculating income, etc.)
• Timely review of all agency feedback/QC requests.
• Daily interaction with branch staff.

Senior Processor Responsibilities

• Ensure a great customer experience, with great communication through the process
• Assembling the processing/underwriting file in accordance with the company’s standards and SLAs
• Complete welcome calls and own the customer engagement throughout the fulfillment process
• Complete opening process and validate initial submission requirements are met
• Verification of loan officer calculations, and making updates to income, assets, debts on the 1003/LP/DU as needed throughout the process
• Submit change of circumstance requests according to company standards for valid changesOrder appraisal, title, flood and other 3rd party services as needed
• Validate all documentation obtain for the file to ensure it meets the company’s standards and supports the application presented
• Properly organize and file documentation in Encompass
• Maintaining status and appropriate conversation logs in Encompass
• Monitor file throughout the process to make sure we are in compliance following all applicable agency regulatory requirements
• Submit complete files to underwriting with great communication
• Obtain and clear conditions, with assistance from loan officer when needed

Requirements

• Five or more years of mortgage as a Sr Processor combined with underwriting experience
• Encompass operating system
• Good organizational and time management skills
• Thorough knowledge of residential mortgage guidelines, products, and regulatory requirements

Pay Range And Benefits

We are committed to providing pay and benefits that help employees stay healthy, supported, and prepared for the future.

Some Of These Include

• UnitedHealthcare (UHC) Medical coverage
• Dental and Vision coverage through Guardian
• Employer-paid Life Insurance, plus Short- and Long-Term Disability
• 401(k) with employer match
• Voluntary, employee-paid options such as legal coverage, accident insurance, pet insurance & more

The pay range for this job is $60,000 - $80,000 annually based on experience.

EOE AA - Devon Bank is proud to be an Equal Employment Opportunity and affirming action employer. We do not discriminate based upon race, religion, color, national origin, gender (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity, gender expression, age, status as a protected veteran, status as an individual with a disability, or other applicable legally protected characteristics.

If you need assistance or an accommodation due to a disability, you may contact us at [e-mail] or you may call us at (773) - 465-2500.

Job Type: Full-time