RETAIL CREDIT UNDERWRITER
- Fort Wayne, IN
- Permanent
- Full-time
- Utilizes governing credit policies and within designated lending authority, evaluates, approves, conditions, or declines credit transactions where the risk will provide a profitable rate of return given the various risk factors associated with the transaction.
- Evaluates entire credit package and collateral for residential mortgage loans to ensure investment quality loan product for delivery to secondary market investors.
- Calculate income for all types of borrowers, handle complex tax returns and related financial statements, analyze various sources of funds, interprets credit agency and similar reports to establish credit worthiness of borrower.
- Approves overrides and exceptions that are deemed necessary to improve profitability and/or maintain profitable relationships while remaining mindful of overall bank safety and soundness.
- Understand and interpret property appraisals, title, sales contracts and other associated loan documents.
- Develops and maintains specialized knowledge of mortgage and consumer underwriting and products offered. Keeps informed of industry trends and developments, including regulatory, internal, mortgage insurance and investor guidelines.
- Analyze and underwrite request for subordination agreements including review of appraisal, new mortgage request and loan structure.
- Coaches and mentors Relationship Managers, Personal Bankers, Mortgage Bankers and other direct retail production employees regarding associated risk factors and efforts to restructure loan requests.
- Evaluates credit and collateral exceptions for materiality, compliance and acceptability.
- Recommends loan disposition for loan amounts in excess of lending authority to Retail Credit Risk Manager, Chief Credit Officer or Retail Banking President.
- Communicates both written and verbal loan disposition to branch lending staff, processors, and mortgage bankers.
- Answers questions and interprets secondary market, internal credit policy and underwriting guidelines for Mortgage Bankers, processors and retail lending staff.
- Responds to post closing audit reviews and QC audits within policy limits and assists in clearing up any file deficiencies.
- Conduct product training on mortgage and consumer loan products.
- Apprises credit risk management of negative trends, issues, or concerns to lessen potential losses to the bank.
- Maintains all product underwriting guidelines and product sheets to ensure all products are kept current with changing guidelines.
- Answers questions on interpretation of lending policy, underwriting guidelines, and documentation requirements.
- Responsible for recommending, implementing and maintaining policy and procedures to assure compliance for assigned products.
- Provides functional guidance and support to all mortgage and consumer lenders.
- Assists with management of application processing systems.
- Provides guidance on the implementation of credit risk strategies in the underwriting software systems and tools used by risk management.
- Minimum three years of experience in credit analysis with approval and underwriting responsibilities for consumer and mortgage credit.
- Knowledge of FNMA guidelines.
- Prior knowledge and experience of automated application processing systems.
- Demonstrated ability to work independently.
- Proven ability to work with multiple priorities and deadlines.
- Excellent written and oral communication skills.
- Strong detail orientation and organization skills.
- Strong analytical ability.
- Intermediate skills in Microsoft Office products.
1 years: Previous experience in credit analysis with approval and underwriting.
1 years: Previous experience in first mortgage underwriting with knowledge of FNMA, FHA/VA, private investor and private mortgage insurance guidelines.
3 years: Previous experience in credit analysis with approval and underwriting responsibilities for consumer and mortgage credit.