Mortgage Loan Underwriter (Full Time) - Lubbock

About the role

To review and underwrite consumer purpose real estate secured loans either to be held in the Bank’s Portfolio:

• Identifies, analyzes, and evaluates loan risks and compensating factors
• Approves, conditions, and denies loan applications
• Determines eligibility and problem solves to provide customers with alternative solutions
• Ensures that loans are approved within the terms of the Bank’s standards and procedures, regulatory underwriting guidelines
• Reviews and analyzes construction budgets, construction contracts, plans, and specs
• Identifies potential construction-related Mechanic’s lien issues
• Analyzes collateral documentation including title work and appraisals for lien perfection and acceptability
• Reviews and ensures adequate insurance coverage
• Ensures Fair Lending compliance, and safeguards against potential regulatory issues

Responsibilities

• Assumes responsibility for accurately evaluating the credit worthiness of potential borrowers.
• Underwrites Pre-Approval requests, Approval requests, Final Approval requests and reviews and clears conditions.
• Evaluates the adequacy of the applicant’s income and probability that the customer will be able to meet expected financial obligations.
• Reviews borrower’s credit reports. Reviews the manner which obligations have been met and financial affairs managed.
• Completes all underwriting functions in accordance with various program requirements. Understands Bank’s Loan Policy and Underwriting Guidelines to identify exceptions.
• Stays informed regarding Bank’s Loan Policy, Underwriting Guideline, Agency/Investor Guideline changes in lending standards and related legal requirements.
• Maintains a high level of confidentiality.
• Demonstrates an exceptional service level.
• Assists Team Lead, Supervisor and Department Manager in developing and meeting short and long-term goals.
• Assists and supports Bank personnel as needed. Answers questions of loan personnel regarding policies and procedures.
• Attends and participates in meetings and committees as required.
• Keeps Team Lead, Supervisor and Consumer Credit Underwriting Manager informed of area activities and of any significant problems.
• Completes and maintains required reports, records, and training.
• Reports technical problems to appropriate personnel for investigation and to prevent reoccurrence of problems.
• Assumes responsibility for related duties as required or assigned.
• Maintains and updates knowledge of underwriting requirements and policies.
• Stays informed of modifications and updates in software applications.
• Completes annual compliance testing and training on time.
• Performs other duties, tasks and special projects as required, assigned, or directed with or without accommodation.
• Keeps work area clean, secure, and well maintained.
• Provides suggestions for improvements in underwriting policies and procedures.

Qualifications

• Education/Certification: Associate degree in business or a related field, or an equivalent combination of training and work experience.
• Required Knowledge: Strong knowledge of credit reports and determination of credit worthiness while maximizing productivity and minimizing credit risk.
• Properly review 3rd party credit and collateral data.
• Working knowledge of consumer real estate loans and collateral documentation.
• Working knowledge of regulatory requirements.
• Working knowledge of construction loans.
• Experience Required: 1-5 years’ experience credit underwriting, loan review, construction, mortgage or related experience.
• Skills/Abilities: Excellent communication skills.
• Sound credit judgment.
• Good organizational skills and attentive to detail.
• Able to operate required computer applications, typewriter, 10-key, and other basic business machines.