MORTGAGE LOAN UNDERWRITER
JOB DESCRIPTION
Baraboo State Bank has served the people of Baraboo and its surrounding communities since 1857. The bank is locally owned and operated. We are a member of The Baraboo Bancorporation, Inc. holding company. We take pride in providing our customers with excellent customer service.
SUMMARY:
Underwrites residential loans while ensuring compliance with appropriate company standards, secondary market Investor standards, and all applicable laws. The Underwriter will be responsible for examining loan documentation for accuracy and completeness; is involved in one or several types of mortgage lending including, but not limited to, conventional program loans. Must be able to underwrite retail loans within the company and industry guidelines. The Underwriter will also be working with Loan Officers and Processors to secure all required documents.
This is a local, in-office position, at our Main location in Baraboo, WI.
RESPONSIBILITIES:
- Underwrites loans to verify for completeness, accuracy, and compliance.
- Develops and maintains an up-to-date and sound knowledge of multiple loan product guidelines offered by the company, Freddie Mac & Federal Home Loan Bank guidelines, and risk assessment tools used to decision mortgage loans.
- Adheres to policies and procedures.
- Revises loans to new terms and identifies additional conditions as needed to ensure a viable credit decision.
- Reviews and evaluates borrower(s) profile including, but not limited to, all income documentation, tax returns, credit reports, and appraisals.
- Analyzes and calculates income documentation and ensures all necessary documentation is requested to support final loan decisions.
- Ensures loans meet the Ability to Repay (ATR) rules established by the Consumer Financial Protection Bureau (CFPB).
- Exercises good judgment, conducts reasonableness tests, and issues quality decisions.
- Determines the accuracy and completeness of files; ensures processes are consistent.
- Communicates regularly with the team.
- Reviews all documentation submitted in a file for compliance with product and investor guidelines, borrower validation, Ability to Repay, and risk mitigation.
- Performs other duties as assigned.
REQUIREMENTS:
- A minimum of two years of current frontline mortgage Underwriting is required.
- Appraisal review and tax return analysis skills required.
- Strong analytical and decision-making/problem-solving skills
- Possess a keen eye for accuracy, attention to detail, and the ability to handle a high-volume workload.
- Proficient in computers, including LOS systems (Finastra MortgagebotLos).
- Ability to deliver effective results and to meet deadlines with minimal supervision.
- High School diploma or equivalent.
Education:
Required
Baraboo State Bank is an Equal Opportunity Employer.
Job Type: Full-time
Pay: $16.00 - $20.00 per hour
Expected hours: 40 per week
Benefits:
- 401(k) matching
- Dental insurance
- Flexible spending account
- Health insurance
- Life insurance
- Paid time off
- Profit sharing
- Referral program
- Vision insurance
Schedule:
- Monday to Friday
- No nights
- No weekends
Ability to Relocate:
- Baraboo, WI 53913: Relocate before starting work (Required)
Work Location: In person