Position Description

Mortgage Underwriter
Location Des Moines, IA
# of openings 1
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Job Summary:

The Mortgage Underwriter will underwrite 1-4 family Residential Mortgage Loans to FNMA, FREDDIE MAC, Investor and PMI guidelines. They will underwrite portfolio loans to Bank policy and guidelines and will be responsible for communicating to Asst Loan Manager and Operations Manager all guideline changes or enhancements to investors loan products. They will also assist in the development of guidelines for new products or programs introduced to the Bank’s portfolio.

This position may be located in Des Moines, Iowa, Cedar Rapids, Iowa or Phoenix, Arizona.

Primary Functions and/or Responsibilities:

• Underwrite secondary market RRE loans according to FNMA/Freddie and investor guidelines, resulting in no buybacks or “pend to fund” requests from underwriting requirements. Turnaround time of 24 hours or less.

• Underwrite portfolio loans to policy/guidelines. Document exceptions to guidelines, as well as SCO approval on any exceptions to policy.

• Review results and findings of all audits. Analyze and process results as a means of growing and developing personal and professional skills as they relate to underwriting.

• Assist in the continual training and development of Loan Originators and processing staff on regulatory and compliance guidelines and requirements.

• Review all investor memos and determine how the memos will be disseminated and communicated to appropriate staff members.

• Review loan files for adherence to R.E.S.P.A., fair lending requirements, appraisal code of conduct, etc. and identify whether violations have been made. Communicate violations to VP/ Loan Manager or Operations Manager as required.

• Proactively seek training and education that will increase your current knowledge level to ever-changing regulatory and lending requirements.

• Perform the necessary actions to obtain approvals on requested condo projects for both FNMA and HUD.

• Identify condominium projects that are in the lending area. Collect and analyze data to identify projects which may pose a significant risk potential to Bankers Trust originated loans. Continually review and search for loans that present an over-exposure of risk to the Bank.

• Assist with education, training, and communication of Governmental, compliance, and regulatory guidelines and requirements.

• Identify and participate in opportunities to learn regulatory guidelines and requirements which pertain to HELOC’s (Home Equity Line of Credit) and second mortgages. Participate in the actual underwriting of these loans in order to grow your knowledge and understanding of this process for future business expansion opportunities.

• Work towards obtaining direct endorsement underwriting authority with FHA and LAP approval with VA

• Insure based on market changes that request for BTC policy and guideline changes are changed accordantly

Education and/or Experience:

• College Degree preferred or equivalent experience

• Minimum 5 years’ experience in underwriting, processing of FNMA mortgage loans

• Sign-on Bonus will be offered for qualified selected candidate.

Specific Skills, Knowledge & Abilities:

• Knowledge of FNMA, FHLMC, FHA, VA and general underwriting policies and guidelines

• Good customer relation and selling skills

• Negotiation Skills

• DE preferred

• Microsoft Office Suite (Excel, Word, PowerPoint, Outlook)

• Strong customer service skills

• Excellent communication skills (written and/or oral)

• Strong attention to detail

• Strong math skills

• Ability to multi-task

• Strong customer service skills




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