______JOB DESCRIPTION

RESIDENTIAL LENDING UNDERWRITER

Job Purpose:To determine whether to approve or deny residential mortgageloan applicationsbased on submitted information andin accordance with investor guidelines/standards (including VA approval and DE (Direct Endorser) approval from HUD) and Guaranty Bank policies and procedures.

Department:Residential LoansReports to:VP, Residential Lending

Exemption Status:Exempt

EssentialDuties/Responsibilities:

Reviews and analyzes individual residential mortgage loan requests based on information provided on the loan application/file

  • Reviews financial statements, credit reports, and applicable ratios (i.e. Debt ratios, loan-to-value)
  • Validates income and employment information
  • Validates the value of a borrower's collateral and assets
  • Reviews submitted files, to analyze and validate, to qualify for Fannie Mae, Freddie Mac, FHA, VA, and USDA (Rural Development) guidelines as per automated findings

Approves or denies individual residential mortgage loan requests

  • Ensures loans meet all program and product specifications
  • Underwrites loan specifications in such a way as to maximize organizational profit and minimize risk or loss (utilizing strong background and experience with Fannie Mae, Freddie Mac, FHA, VA, and USDA (Rural Development) loan guidelines and procedures)

Reviews and evaluates information on mortgage loan documents to determine if buyer, property and loan conditions meet established investor standards for all conventional, Fannie Mae/Freddie Mac and private investor and portfolio loans

  • Ensures that the property specifications and loan terms meet financial institution requirements and government regulations
  • Ensures compliance with industry standards, state and federal laws and disclosure requirements
  • Ensures that documents are consistent and uphold to company and industry guidelines

Serves as a VA Approved Underwriter for bank with responsibility for underwriting all VA loans

Facilitates HUD related activities

  • Assists SVP, Residential Lending Manager with set-up and on-going approval by HUD for the bank to be a Direct Endorser
  • Underwrites and manages HUD’s “Test Cases” stage, as well as, delivery and insuring of all FHA loans through HUD and investors

Prepares formal reports of final underwriting decision

  • Documents the reasons for approval or denial of the loan and adds the documentation to the loan file

Assists with re-negotiations of loans based on lending guidelines

Delivers excellent communication and customer service

  • Communicates loan decisions to internal lenders, coordinators and/or processors
  • Explains Fannie Mae/Freddie Mac, corporate, and investor guidelines to customers, loan processors, and sales associates
  • Provides friendly, comprehensive, accurate, prompt and efficient service to both customers and non-customers
  • Contacts customers and/or internal associates to gather information to make appropriate decisions and/or explain rationale behind credit decision

Contributes to the fulfillment of department and company objectives and goals

  • Performs as a team member in allocating and coordinating work flow
  • Maintains effective co-worker relationships
  • Suggests ideas to improve operational and/or salesactivities
  • Maintains neat and clean appearance of department

Adheres to all department and company policies and procedures and follows applicable banking regulations

  • Follows all requirements of the Customer Identification Policy
  • Follows appropriate bank safety/security procedures

Performs additional job related duties as assigned or required

Equipment/Software Operating Requirements:

Windows based PC (MS Word/Excel)

Core Bank SoftwareCopy MachineFax Machine

TypewriterTelephoneEncompass Mortgage Software

Physical/Mental/Interpersonal Requirements:

  • Have currentknowledge of and to adhere to various mortgage lending regulatory requirements, as well as other applicable banking laws and regulations(including, but not limited to, Bank Secrecy Act/Anti-Money Laundering, Community Reinvestment Act, Americans with Disabilities Act, Right to Financial Privacy Act, Gramm-Leach-Bliley Act, Regulation E)
  • Ability to adhere to secondary market and real estate programs and guidelines
  • Must be analytical with solid math and auditing skills
  • Follow the Guaranty Bank Code of Conduct and other related policies and regulations, maintaining integrity, honesty and utmost ethical standards at all times
  • Have the ability to communicate effectively in both oral and written form
  • Possess strong computer skills, including proficiency with word processing and spreadsheet programs and a working knowledge of automated systems used in loan underwriting
  • Demonstrate attention to detail and ability to maintain accuracy in daily duties
  • Uphold confidentiality and customer privacy in all situations
  • Remain flexible to withstand unpredictable changes to workflow and schedules while being able to work accurately under deadline pressures
  • Interact and communicate effectively with various types of external and internal customers
  • Be detail-oriented with excellent decision-making skills that are backed by strong research skills
  • Display ability to be resourceful and act independently, while maintaining ability to recognize unusual situations in which higher intervention may be necessary
  • Maintaina customer-focused, helpful, friendly and polite attitude while remaining calm and professional in a variety of circumstances
  • Present a conservative, neat and professional appearance in dress and action
  • Sit at a desk in front of computer terminal for extended periods of time
  • Lift and carry up to 25 lbs (files, supplies)
  • Move around within office and between banking centerlocations

Working Conditions:

Duties are performed in an office environment in a professional business setting. Position requires occasional travel to OperationsCenter and/or between other banking center locations or to off-site locations. Work pace can be very fast during deadlines and peak periods. Flexibility for working varied or additional hours may be required.

Relationships:

Works closely with departmental teammates. Communicates and coordinates with external contacts (secondary market lenders, etc.) as well as a wide variety of potential and existing customers.

Eligibility Requirements (Minimum Qualifications):

Achievement of a bachelor’s degree in business, finance or related field or equivalent experience required. Minimum 2 – 3 years previous underwriting experience preferred. Previous experience with Fannie Mae, Freddie Mac, FHA, VA, and USDA (Rural Development) loan guidelines and procedures required. Designation as a VA approved underwriter highly desired.