Job Description

Mortgage Loan Underwriter

Approves or denies mortgage loans; reviews mortgage loan applications for completeness to ensure that it meets the guidelines for loan product requested and ensures file complies with regulatory and legal guidelines by performing the following duties.

Essential Duties and Responsibilities:

• Underwrites conventional Federal Housing Authority (FHA), Veterans Affairs (VA), Rural Housing Development (RD) and portfolio loans
• Ensures that appraisals meet investor and bank requirements and that the value conclusion is reasonable and well supported
• Reviews all employment, income and asset documentation to ensure that it is accurate and satisfies investor requirements
• Reviews credit history and scores to ensure the borrower's credit meets the investor requirements
• Reviews all documents and information for potential fraud or misrepresentation and for regulatory compliance
• Reviews and evaluates information on mortgage loan documents to determine if buyer, property, and loan conditions meet establishment and government standards
• Evaluates acceptability of loan to corporations that buy real estate loans on secondary mortgage markets, where existing mortgages are bought and sold by investors
• Approves or rejects loan application, or requests additional information
• Records loan rejections, specifying investor and institution guidelines and basis for declining application, such as insufficient cash reserves
• Determines terms and acceptability of risk of prospective business
• Sets prices for prospective mortgage loan applicants
• Approves or rejects loan application, or requests additional information
• Assembles documents in loan files, including acceptance or denial, and returns files to originating mortgage loan office
• Maintains database on new and existing business

Secondary Duties

• Coaches Processors, Loan Officers and Junior Underwriters/Validators when appropriate and works with them to find solutions to problems where possible
• Manages and utilizes systems to ensure they accurately reflect the loan request and information (current loan origination system and other investor conduit systems, etc)
• Communicates and coordinates necessary approval requirements and files status with appropriate persons (originator, processor, closers, Realtors, builders, etc.)
• Participates in implementing second review committee for denied loans

Supervisory Responsibilities

This job has no supervisory responsibilities.

Qualifications To perform this 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.

Education and/or Experience

• Bachelor's degree; two to four years related experience and/or training; or equivalent combination of education and experience

Certificates, Licenses, Registrations

• An FHA DE designation is required and a VA LAP designation is preferred

Essential Mental & Physical Requirements:

• Ability to work under stress and meet deadlines
• Ability to operate related equipment to perform the essential job functions
• Ability to read and interpret a document if required to perform the essential job functions
• Ability to travel if required to perform the essential job functions
• Ability to lift/move/carry approximately 10 pounds if required to perform the essential job functions. If the employee is unable to lift/move/carry this weight and can be accommodated without causing the department/division an "undue hardship" then the employee must be accommodated; hence omitting lifting/moving/carrying as a physical requirement.

Disclaimer

This job description is only valid as of the date it was revised. Please contact the HR Compensation Department to obtain the latest version. Information contained herein should be treated as confidential to Hancock Holding Company.

Nothing in this job description restricts management's right to assign or reassign duties and responsibilities to the job at any time

Equal Opportunity/Affirmative Action Employers. All qualified applicants will receive consideration for employment without regard to race, color, religious beliefs, national origin, ancestry, citizenship, sex, gender, sexual orientation, gender identity, marital status, age, physical or mental disability or history of disability, genetic information, status as a protected veteran, disabled veteran, or other protected characteristics as required by federal, state and local laws.

Job Tags

Similar Jobs