Mortgage Loan Underwriter

Stock Yards Bank & Trust; Louisville (KY); Hybrid; USD 60,000 - 80,000; Full time

Job summary

Stock Yards Bank & Trust is seeking a Mortgage Loan Underwriter. You will analyze mortgage loan documents, interpret investor guidelines (FHA/VA/FNMA) and assist staff with underwriting decisions. The role supports compliance and updates on guideline changes.

The position requires 1–2 years of experience in mortgage underwriting and DE authority for FHA is preferred. Hybrid work with monthly attendance at the Louisville office is expected.

Qualifications

• Education: High school/GED.
• Experience: 1–2 years approving or denying mortgage loan files per guidelines.
• DE authority for FHA is required or must be held.

Responsibilities

• Analyze and interpret loan documents to ensure compliance with bank and investor policies.
• Interpret guidelines (FHA, VA, FNMA, etc.) and decide loan acceptance or denial.
• Research and provide in-depth file analysis for denial or possible approval decisions.
• Assist mortgage staff with interpretation of product guidelines and approval conditions changes.
• Provide staff updates on investor guideline changes.

Skills

FHA processing

VA processing

Conventional loan processing

Underwriting guidelines

Automatic Underwriting Systems

Attention to detail

Verbal communication

Problem solving

Fast-paced environment

Education

High school/GED education

Tools

DE authority (Direct Endorsement)

Automatic Underwriting Systems

Job description

Job Title: Mortgage Loan Underwriter

FLSA Status: Exempt

Department: Mortgage

Hours of Operation: Monday - Friday 8:00am – 5:00pm, 40 hours a week; Hours may vary during high volume periods

General Job Summary

Analyze and interpret mortgage loan credit and appraisal documents for conformity to specific guidelines set forth by Fannie Mae, Federal Housing Administration, Veterans’ Administration, Kentucky Housing Corporation, Rural Housing, Private Investors, Portfolio lending and Regulatory, including Qualified Mortgage Underwriting guidelines. Assist the mortgage lending staff in obtaining answers to questions regarding the acceptability of the mortgage loan. Assist Supervisor in keeping the mortgage staff updated with investor guideline changes. Assist in staff training as necessary.

Organizational Duties and Responsibilities

• Supports the mission, vision and philosophy of the Bank. Complies willingly with all organizational policies and procedures.
• Supports all functions that maintain compliance with regulatory agencies.
• Comply with Departmental and Bank policies when performing the review of mortgage loans.
• Comply with Investor guidelines.

Essential Duties and Responsibilities

• Perform in-depth file analysis and risk assessment by reviewing and interpreting all loan documents, verifying accuracy of information, investigating omissions and discrepancies, researching and resolving all discrepancies to ensure compliance with bank and investor policies
• Accurately interpret various guidelines (FHA, VA, FNMA, etc.) and make decisions of loan acceptance or denial. Accountable for accuracy of those decisions
• Research and provide in-depth file analysis of mortgage loans submitted as recommendations for denial in order to render a possible approval decision
• Assist the mortgage loan personnel with interpretation of product guidelines, required loan documents and approval conditions changes
• Provide staff awareness of guideline changes from investors

Working Conditions

Work from home after training period– Required to be in Louisville office once a month

Minimum Job Requirements

Education: High school/GED education

Experience: 1-2 years experience approving or denying mortgage loan files based upon interpretation of department and investor guidelines

Specific Skills

• Proven knowledge and experience with FHA, VA, and conventional loan processing
• Must have DE (Direct Endorsement) authority for FHA
• Strong knowledge of underwriting guidelines and ability to accurately interpret those guidelines
• Knowledge of various Automatic Underwriting Systems
• Must be detailed oriented
• Must be assertive and have good verbal communication skills
• Must have strong problem-solving skills
• Must be able to work well with others and have ability to perform in a fast-paced and high-pressure environment

Physical requirements

The physical demands described here are representative of those that must be met by an employee in order to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

• Primarily sedentary work performed in an office environment
• Ability to sit for extended periods of time while working at a computer
• Frequent use of hands and fingers to operate a computer, keyboard, mouse, and other office equipment
• Ability to speak clearly and hear well enough to communicate with clients, team members, and vendors via phone, video, and in person
• Visual acuity sufficient to read computer screens, printed documents, and financial data
• Occasional standing, walking, bending, or reaching
• Ability to lift and carry up to 10–15 pounds occasionally (e.g., files, office supplies)