Underwriter Residential and Consumer Lending

First Commerce Bank; New Jersey; On-site; USD 80,000 - 110,000; Full time

Job summary

First Commerce Bank is seeking an experienced Underwriter Residential and Consumer Lending in Lakewood, NJ. This role reviews loan files for adherence to FNMA/FHLMC and bank guidelines, underwriting consumer products including Home Equities and personal loans, with a focus on accuracy and compliance.

The candidate will recommend decisions to the Loan Committee, resolve documentation issues with investors, and ensure timely submission of files to secondary market investors.

Qualifications

• High School Diploma or equivalent required.
• 5–7 years of progressive experience in residential underwriting.
• Knowledge of FNMA/FHLMC underwriting guidelines and Dodd-Frank regulations.
• Ability to learn guidelines for secondary market investors and portfolio loans.

Responsibilities

• Recommend portfolio underwriting decisions to Chief Residential Loan Officer and/or Loan Committees.
• Examine loan documentation for accuracy and completeness.
• Resolve mortgage application issues with investors and vendors.
• Establish and clear approval conditions, review AUS findings, present files to investors and senior management.
• Ensure adherence to compliance, investor and federal regulations (Dodd-Frank) and bank policies.
• Prepare and submit files to secondary market investors if applicable.

Skills

English proficiency

Time management

MS Office

Bank products knowledge

Multitasking

Analytical skills

Origination systems Encompass 360

Education

High School Diploma or equivalent

Residential underwriting 5–7 years

Tools

Encompass 360

Job description

Basic Qualifications

Education/Training: High School Diploma or equivalent. Minimum of five to seven years of progressive experience in residential underwriting. Current knowledge of FNMA/FHLMC underwriting guidelines, Dodd-Frank regulations and ability to learn and understand guidelines for secondary market investors, portfolio loans, etc.

Basic Qualifications

Education/Training: High School Diploma or equivalent. Minimum of five to seven years of progressive experience in residential underwriting. Current knowledge of FNMA/FHLMC underwriting guidelines, Dodd-Frank regulations and ability to learn and understand guidelines for secondary market investors, portfolio loans, etc.

Skills: Proficient in English, written, verbal and interpersonal communication skills. Strong time management skills, proficient PC skills including Microsoft office. Through knowledge of bank products and services. Ability to manage multiple tasks in a fast-paced, changing environment with professionalism and courtesy. Excellent analytical, reasoning and organizational skills. Knowledge of Origination Systems including Encompass 360.

General Responsibilities: The Underwriter Residential and Consumer Lending will review loan files for adherence to FNMA, FHLMC, investor, private mortgage insurance and Bank Loan Policy underwriting guidelines. The position will underwrite the Banks consumer loan products including Home Equities and personal loans, secured and unsecured.

Essential Duties And Responsibilities

• Recommending portfolio underwriting decisions to Chief Residential Loan Officer and/or Loan Committees.
• Examines loan documentation for accuracy and completeness.
• Aiding in resolution of mortgage application issues with investors, outside sources and software vendors.
• Establishing and clearing approval conditions, reviewing AUS findings and presenting files to Investors and FCB Senior Management/Loan Committee.
• Assure adherence to compliance, investor, federal regulations (including Dodd-Frank) and Bank policies.
• Prepares and submits files to secondary market investor if applicable

Essential Duties And Responsibilities

• Recommending portfolio underwriting decisions to Chief Residential Loan Officer and/or Loan Committees.
• Examines loan documentation for accuracy and completeness.
• Aiding in resolution of mortgage application issues with investors, outside sources and software vendors.
• Establishing and clearing approval conditions, reviewing AUS findings and presenting files to Investors and FCB Senior Management/Loan Committee.
• Assure adherence to compliance, investor, federal regulations (including Dodd-Frank) and Bank policies.
• Prepares and submits files to secondary market investor if applicable

Job Location

All levels

1700 Avenue of the States

Suite 301

Lakewood, NJ