Mortgage Underwriter

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 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 www.ffbla.bank to learn more. Member FDIC, Equal Housing Lender.

Position Summary

In conjunction with loan officers, approves or denies mortgage loans through the evaluation of mortgage applications.

Essential Duties & Responsibilities include, but are not limited to, the following:

• 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.

Minimum Qualifications

• 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

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are a basic summary of the knowledge, skill, and/or ability required. The full job description is attached as a pdf to this job posting. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Other Duties & Responsibilities

This job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities and activities may change at any time with or without notice.

Equal Opportunity Employer

The employment policy of First Federal Bank and its subsidiaries is to provide an equal employment opportunity for all employees and job applicants without regard to race, color, religion, sex, national origin, age, individuals with disabilities, protected veteran status, sexual orientation, gender identity, genetic information, or any other legally protected characteristics or activities in accordance with applicable laws.