This is a fully remote position, and must be located in one of First Interstate Bank's six state footprint, including Idaho, Montana, Oregon, South Dakota, Washington and Wyoming.
The Underwriting Team Lead position is a producing supervisor position. This position is responsible for high quality, compliant loan production while providing leadership and guidance to assigned Home Loans Underwriting teams. Strong communication and partnership with our bank management and lending partners at each branch in the respective markets is critical. This role shall support the Underwriting Manager in providing direction regarding workflow standardization, identifying possible process and procedural gaps as well as training opportunities for all residential real estate underwriting staff. Success in this position is demonstrated by building a cohesive underwriting team with the ability to produce quality loans while meeting agreed upon Service Level Agreements.
Support and Develop assigned direct reports with performance objective requirements, coaching, on-boarding new staff, system and underwriting training knowledge, First Interstate Bank underwriting standards, and underwriter roles and responsibilities.
ESSENTIAL DUTIES & RESPONSIBILITIES include the following; other duties may be assigned.
Underwrite and evaluate Conventional Conforming and Non-Conforming, FHA, VA and RD residential mortgage loan applications to provide quality loans for First Interstate Bank and its secondary market investors.
Review and evaluate loan files while assessing risk and making decisions on files consistent with First Interstate Bank lending policies and all appropriate program guidelines. Must possess and use extensive industry, product, and Secondary Market knowledge to ensure compliance with regulatory and investor standards.
Support long and short-term business strategies through quality underwriting, customer service, and production initiatives
Assist in loan balancing the distribution of credit files and appraisal reports across the underwriting staff according to market, relationships, and required underwriter designation
Comply and ensure assigned team compliance with regulatory and internal policies and procedures
Coaching direct reports with results from Quality Control and/or Audit findings and reviews
Examine residential mortgage loan applications for accuracy and completeness
Determine whether credit, income and source of funds are stable and adequate for repayment and meet all applicable guidelines
Review automated underwriting findings and loan files for adherence to requirements
Evaluate property to determine adequacy of collateral and adherence to all agency and/or investor requirements
Review title information for accuracy and adherence with all agency and/or investor requirements
Ensure that all agency, investor, and or private insurer’s guidelines and overlays are strictly enforced
Approve or reject loans based on findings and file documentation
Maintain current underwriting knowledge for all agency, investor and private insurers
SECONDARY DUTIES & RESPONSIBILILTIES
Actively support the goals of the Community Reinvestment Act (CRA) in the development and implementation of new lending programs
Assist in development of consistent underwriting, quality control and compliance testing procedures throughout the bank’s mortgage lending operations
Assist in training Home Loans staff
To perform the job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
EDUCATION & EXPERIENCE
High School or general education degree (GED) and five (5) or more years’ Real Estate Underwriting experience required.
OTHER SKILLS & ABILITIES
Accurate keyboarding and 10-key skills required. Computer experience required with Windows software experience preferred. Ability to set priorities and work in an organized manner. Ability to work under pressure with limited supervision. Ability to meet and deal with the public and co-workers in a friendly, professional manner.
CERTIFICATES, LICENSES, REGISTRATIONS
This position requires compliance with the S.A.F.E. Mortgage Licensing Act of 2008 and all related regulations. Employment is contingent upon meeting all such requirements, including acceptable background investigation results including FHA DE status & VA LAPP approval.
As a condition of employment, any successful job applicant will be required to pass a pre-employment screening against the Limited Denial of Participation (LDP), GSA Excluded Party List System (EPLS) and Freddie Mac Exclusionary List.
Ability to read, analyze, and interpret general business periodicals, professional journals, technical procedures, or governmental regulations. Ability to effectively present information and respond to questions from groups of managers, clients, customers and the general public.
Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, percentages, area, circumference and volume. Ability to apply concepts of basic algebra and geometry.
Ability to define problems, collect data, establish facts, and draw valid conclusions. Ability to interpret and extensive variety of technical instructions in mathematical or diagram form and deal with several abstract and concrete variables.
While performing the duties of this job, the employee is regularly required to use hands to finger, handle, or feel; reach with hands and arms; and talk or hear. The employee frequently is required to walk, sit, and climb or balance. The employee is occasionally required to stand and stoop, kneel, crouch, or crawl. The employee must occasionally lift and/or move up to 25 pounds. Specific vision abilities required by this job include close vision, distance vision, color vision, peripheral vision, and ability to adjust focus.
The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee is frequently exposed to moving mechanical parts.
The noise level in the work environment is usually moderate.