Home Lending Junior Underwriter
Job Details
Mountlake Terrace - Mountlake Terrace, WA
Full Time
High School

Summary: 1st Security Bank is looking for an enthusiastic entry-level junior underwriter who is interested in helping our team process mortgage loans for our clients so they can purchase their dream home! No experience is required, but some knowledge of the mortgage industry is a plus. Come in with a strong work ethic and passion for learning and we’ll provide the training you need to succeed in this role. This will be achieved through a combination of the study procedures and guidelines, analyzing loan files that have been underwritten by senior Underwriters, clearing conditions of Underwritten loan files and underwriting subject to a 2nd review by a senior Underwriter.  Responsible for the underwriting of conventional mortgages.   Responsible for managing loan approvals up to the delegating underwriting authority and managing credit quality in line with bank guidelines.

Duties and Responsibilities:

  • Study and review loans that have been underwritten by Underwriters.
  • Manage daily work flow expectations in line with production fluctuations and credit quality initiatives provided by the Underwriting Manager.
  • Provides ongoing feedback to production staff including questions and answers associated with mortgage file reviews.
  • Assist in the distribution of new and updated information regarding loan file credit quality.
  • Support peer underwriters by clearing their conditions.
  • Maintain operational relationships with FNMA and FHLMC.
  • Review, assist, and comply with audit findings, compliance reviews, quality control findings, and other internal and external reviews related to underwriting quality.
  • Participate in post closing reviews prior to investor purchases in order to identify changes in quality oversight required during the origination process.
  • Underwrite loan files in accordance with accredited lending policies including quantitative and qualitative loan criteria; income, credit and property worthiness, employment history, and borrowers outstanding debt to income calculations.
  • Underwrite loans in line with FNMA and FHLMC guidelines.
  • Performs other duties as assigned.

Required knowledge and skills:

  • High school diploma or equivalent work experience.  
  • Minimum of 1 years of mortgage banking processing or production experience.
  • Excellent written and verbal communication skills.
  • Excellent mathematical, analytical, and organizational skills.
  • Proficient in automated underwriting systems as well as Microsoft Word and Excel.
  • Up to date knowledge of industry specific guidelines and procedures including an in depth understanding of loan processing and risk analysis.
  • Ability to work closely and efficiently with other banking departments.
  • Strong customer service skills required for internal and external customer communications.