Job Description:
The Mortgage Loan Underwriter is responsible for evaluating and analyzing loan applications to determine the creditworthiness of borrowers and ensure compliance with lending policies and investor guidelines. This position plays a critical role in the mortgage process by making informed decisions that balance risk and customer service.
- Analyze residential mortgage loan applications including credit reports, income documentation, asset statements, property appraisals, and other supporting documents.
- Determine whether borrowers qualify for loan products based on investor and regulatory guidelines (Fannie Mae, Freddie Mac, FHA, VA, USDA, etc.).
- Review and assess risk on conventional and government-backed loans, ensuring sound underwriting judgment and adherence to underwriting standards.
- Issue loan approvals, counteroffers, suspensions, or denials and document underwriting rationale.
- Work closely with loan processors, originators, and closers to obtain missing information or clarify documentation.
- Maintain current knowledge of loan program guidelines, compliance requirements, and market trends.
- Ensure loans meet applicable federal and state regulations (e.g., TRID, RESPA, ECOA).
- Utilize automated underwriting systems (e.g., DU, LP) and perform manual underwriting when necessary.
- Maintain productivity, quality, and turn-time standards as defined by management.
- Participate in internal and external audits by providing documentation and responses as requested.
Qualifications:
- High school diploma or equivalent required; bachelor's degree in finance, business, or related field preferred.
- 3+ years of experience underwriting residential mortgage loans.
- Proficiency with loan origination systems (e.g., Encompass) and automated underwriting systems (DU, LP).
- In-depth knowledge of mortgage lending regulations and underwriting guidelines.
- Strong analytical and decision-making skills with a high level of accuracy and attention to detail.
- Excellent written and verbal communication skills.
- Ability to work independently and manage a high volume of files in a fast-paced environment.
- DE (Direct Endorsement) certification for FHA loans.
- SAR/LAPP approval for VA loans (Preferred).
Standard Benefits Include:
- Group health insurance, including long-term disability with optional dental, vision, and short-term disability
- Bank-sponsored retirement program
- Paid vacation
First Palmetto Bank is an equal opportunity employer and affords employment to all persons regardless of race, color, religion, sex, national origin, age, marital status, disability, or genetic information. We know that the sky is the limit with the right team in place.