Underwrite and evaluate Conventional, FHA, VA, and RD residential mortgage loan applications to provide quality loans for First Interstate Bank and its secondary market investors. Responsible for the credit risk on all loans.
The underwriter is responsible for the review and evaluation of loan files and will make decisions on the 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.
ESSENTIAL DUTIES & RESPONSIBILITIES include the following; other duties may be assigned.
Examine residential mortgage loan applications for accuracy and completeness
Ensure that all agency, investor, and or private insurer’s guidelines and overlays are strictly enforced
Review automated underwriting findings and loan files for adherence to requirements
Determine whether credit, income, and source of funds are stable and adequate for repayment and meet all applicable guidelines
Evaluate property to determine the 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
Approve or reject loans based on findings and file documentation
Ensure compliance with government regulations and bank policies
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 the development of consistent underwriting, quality control, and compliance testing procedures throughout the banks’ mortgage lending operations
Participate in community involvement activities
Train real estate 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 or more years’ Real Estate underwriting experience.
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 perform multiple tasks with great attention to detail. Must enjoy working with the public on a daily basis. Ability to work under pressure with limited supervision. Ability to meet and deal with the public and co-workers in a friendly, professional manner. Accurate typing skills, computer experience, and good telephone voice. Professional grooming and adherence to the FIB dress code are required.
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.
FHA DE status, VA LAPP approval.
A valid driver’s license is required.
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 an 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 the 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.