Senior Mortgage Underwriter

Bankers' Bank; Madison (WI); On-site; USD 90,000 - 120,000; Full time

Job summary

Bankers' Bank in Madison, WI is seeking a Senior Mortgage Underwriter to review underwriting documents and determine loan viability for final decision. The role involves interpreting results from DU, LP Advisor, and GUS with customer banks and guiding internal staff.

The position supports mentorship of Underwriting and Processing staff and serves as back-up to Mortgage Operations leadership in Madison, WI.

Qualifications

• Bachelor's degree in accounting, finance, banking, business or related field.
• 3+ years of automated underwriting systems experience.
• 3+ years underwriting mortgage loans.
• Knowledge of FNMA and Rural Development/USDA underwriting guidelines.
• Preferred: LAPP or VA Underwriter certification and NOV experience with guidelines, Encompass experience.

Responsibilities

• Review underwriting documents to determine loan viability for final decision.
• Interpret results from DU, LP Advisor, and GUS with customer banks and provide direction to staff.
• Underwrite loans up to 100% LTV and review government, portfolio, and conventional lending.
• Review credit reports, income, assets, appraisals, title work, and tax returns.
• Provide mentorship and back-up to Mortgage Operations leadership and assist in training staff.
• Support audit responses and collaborate with internal and investor stakeholders.

Skills

Underwriting

Education

Bachelor's degree in accounting, finance, banking, business or related field

Equivalent combination of experience/education

Tools

Desktop Underwriter

Desktop Originator

Loan Product Advisor

Guaranteed Underwriting System

Encompass loan origination system

Job description

Bankers' Bank is a fast-growing, state-chartered financial institution with over $1.5 billion in assets dedicated to supporting community banks for more than 45 years. We deliver a full suite of correspondent banking and financial solutions, including leasing, commercial lending, bank holding company financing, payments, mortgage, investment and risk management services. Bankers' Bank has offices in Madison, WI, Des Moines, IA, Chicago, IL, Columbus, OH and Indianapolis, IN.

We are seeking a Senior Mortgage Underwriter at our Madison, WI office who is responsible for reviewing underwriting documents from correspondent banks to determine viability of loans presented for final decision. Will independently interpret and discuss results of Desktop Underwriter, Loan Prospector Advisor, and Guaranteed Underwriting System with customer banks and provide direction to internal staff. Will assist in mentorship/training of Underwriting and Processing/Closing staff. Provide back-up to Mortgage Operations leadership, as needed.

Underwriting (80%):

• Complete preliminary underwriting related to conventional, portfolio, USDA/RD and VA loan requests to determine required documents to meet secondary market and regulatory standards within designated timeframe using appropriate automated underwriting systems.
• Input data into automated underwriting systems and translate required documentation to customer banks.
• Responsible for review and decisioning of individual mortgage loan requests using conventional, portfolio and government lending requirements for requests up to 100% loan to value (LTV). Review and decisioning of partner bank employee mortgage loan requests.
• Review credit reports, income/employment documentation, asset documentation, offer to purchase, personal and business tax returns (to include S-Corp, Partnership, Schedule C, E, F income sources), appraisals, title work, pre-close credit reports and other applicable loan documentation.
• Review, analyze, underwrite and approve complex individual consumer requests, including USDA/RD, VA, Jumbo and bank portfolio loan requests using applicable investor lending requirements.
• Determining and documenting loan conditions and communicating requirements and/or decisions.
• Identify, recommend and/or negotiate alternative loan requirements, funding and/or loan-structuring solutions.
• Examine transactions to ensure accuracy and completeness, agency guidelines.
• Underwrite the decision for at least two (2) new files per day.
• Review incoming documentation on suspended loans within 48 hours of receipt.
• Provide timely and cooperative response to internal audit requests.

Administrative & Customer Service (15%):

• Available to answer customer inquiries as well as internal bank employee questions and available for department customer inquiry phone rotation.
• Monitor underwriting and pre-qualification inboxes at least two days per week.
• Assists leadership with daily workflow management and report distribution and attend in person department meetings as requested.
• Assists leadership with audit responses to GSE's, private investors and mortgage insurance companies.
• Participate in receipt of and response to inbound bank customer service calls.
• Monitor and follow-up with customer banks when loans are pended for underwriting information.
• Assist as back-up to other areas of the department.

Leadership/Mentoring (5%):

• Acts as a training resource for Associate Underwriters and Underwriters, Processors and Closers through various collaboration channels; in person, email & via phone.
• Responsible for providing guidance and direction of daily workflow to leadership.
• Assists leadership with daily workflow management and report distribution.

Ideal candidate will possess a bachelor's degree in accounting, finance, banking, business or other related field or equivalent combination of experience/education sufficient to perform the position functions of the job. 3+ years of automated underwriting systems such as Desktop Underwriter, Desktop Originator, Loan Product Advisor, Guaranteed Underwriting System or related experience. 3+ years of underwriting mortgage loans, including appraisal review, per secondary market, government, and private investor guidelines. Demonstrated knowledge of FNMA and Rural Development/USDA underwriting guidelines, demonstrated ability to interpret and evaluated various mortgage insurance programs, and demonstrated ability to respond to internal and investor audit demands. Preferred qualifications include Certified Lender Appraisal Program (LAPP) or Veteran Affairs (VA) Underwriter, actively underwriting VA loans and issuing Notice of Value (NOV) within guidelines, and Encompass loan origination system experience, preferred.