Experienced Retail Underwriter
Are you an expert in credit risk assessment with a deep understanding of FNMA guidelines? Do you thrive in a collaborative, fast-paced environment where precision and compliance are key? If so, we want to meet you!
We offer a supportive, team-oriented environment where your expertise is valued and your voice matters. Join Bank First where your decisions make a real impact, every single day.
Key Requirements:
- Location: Manitowoc Operations Center
- Schedule: On-site, 5 days a week
- Experience Preferred: Minimum 5 years in mortgage underwriting
About the Role:
As a Retail Underwriting Specialist, you’ll be the critical decision-maker at the heart of our retail lending operations. You’ll evaluate, review, and approve retail loan applications to ensure they meet internal policies and investor (especially FNMA) guidelines. Your attention to detail and strong grasp of credit risk assessment will help us deliver fast, accurate, and compliant lending decisions.
Primary Responsibilities:
- Ensure consistent application of fair lending practices in all underwriting decisions.
- Review and approve in-house policy monitoring cases, exceptions, loan modifications, and pre-qualification/pre-approval requests.
- Validate in-house rates using the risk rating sheet; obtain necessary approvals for deviations and maintain tracking documentation.
- Process Fannie Mae rate and loan commitments; set and publish daily interest rates.
- Calculate borrower income and assess creditworthiness per investor and internal guidelines.
- Evaluate retail appraisals and address discrepancies with the appraisal reviewer.
- Underwrite retail mortgage and consumer loans for both portfolio and secondary markets.
- Monitor loan pipeline and software alerts daily to ensure timely processing.
- Review loan files for completeness and compliance with Fannie Mae and internal policies.
- Run and reconcile final Desktop Underwriter (DU) and Early Check reports; ensure data integrity.
- Identify and communicate closing conditions to Loan Officers for all retail loans.
- Review active Fannie Mae loans for timely PMI cancellation.
- Support pre-close and post-close QC audits; review and resolve audit findings.
- Maintain Fannie Mae Quality Assurance submissions and documentation.
- Assist with condo loan applications and manage project eligibility through the Fannie Mae portal.
- Respond to Loan Officer inquiries by referencing internal policies or consulting Fannie Mae directly.
- Stay current on Fannie Mae announcements; communicate product or guideline changes to Loan Officers.
- Submit PMI requests, ensure accurate data entry, and retrieve insurance certificates.
- Perform additional as assigned.
