Mortgage Loan Underwriter II

First Bank And Trust Lubbock , TX 79401

Posted 2 months ago

FirstBank Lubbock Bancshares began with the vision of one man, Barry Orr, and a promise. Barry promised his wife and friends that he would start a bank that would become profitable through relationships, hard work and determination. "It is our goal to be the BEST community bank in the Lubbock area," states Barry Orr, Chairman & CEO. "We knew we could help build a better Lubbock by serving the needs of customers our way."

The Mortgage Loan Underwriter II evaluates borrowers' creditworthiness and determines if residential real estate loan applications meet minimum investor and loan program standards.

1.Evaluates loan applications and borrowers' creditworthiness.

2.Monitors Regulation B compliance and ensures that all loan underwriting decisions are made within applicable timeframes.

3.Determines whether or not to approve a loan application based on information provided by a loan applicant.

4.Verifies income and employment information, reviews credit history and calculates the value of a borrower's collateral and assets.

5.Ensures that the property specifications and loan terms meet the bank's underwriting guidelines and investor criteria.

6.Follows underwriting procedure and completes all underwriting logs.

7.Adheres to FNMA/FHLMC underwriting guidelines.

8.Approves loan requests that fall within the loan authority limits established for the position and recommends approval for loan requests that are outside of their authority limits.

9.Reviews and approves Automated Underwriting System ("AUS") findings.



  1. Denies Mortgage loans that do not meet the standards and prepares a timely adverse action notice.

  2. Clears loan conditions and forwards a loan to closing when appropriate.

  3. Documents reasons for approval or denial, and completes adverse action notices, when required.

  4. Notifies Loan Processor and/or Loan Officer of final decision.

  5. Checks investor memos and keeps current on any changes.

  6. Answers audit issues on purchased or pre-purchased loans.

  7. Reviews scenarios with Loan Officers and Loan Processors and answers questions regarding underwriting.

  8. Analyzes personal and business (Corporate, S Corporation, and Partnership) income tax returns and prepares Self-Employed Analysis for Mortgage loan qualification.

  9. Reviews all appraisals (i.e., 1004, 1025) to confirm that they meet the standards for the loan type requested and support the market value conclusion.

  10. Contacts appraisers, as necessary, to resolve conflicting information or appraisal issues.

  11. Assists in the training of Mortgage lending personnel in documentation and underwriting standards for various Mortgage types.

  12. Completes annual E-Learning Plan and Bank Secrecy Act (BSA) training as assigned and keeps up-to-date knowledge of BSA as it relates to the job function.

  13. Performs other duties as assigned.


Job Requirements

1.Bachelor's Degree in finance or related field.

2.3-5 years of recent residential mortgage underwriting experience.

3.Working Knowledge of Automated Underwriting System to include DU and LP or similar AUS software.

4.Detailed knowledge of the loan processing system.

5.Working knowledge of FNMA/FHLMC, as well as various investor guidelines.

6.Knowledge of Microsoft Office; Outlook, Word and Excel.

Scheduled Weekly Hours:

40

Time Type:

Full time


icon no score

See how you match
to the job

Find your dream job anywhere
with the LiveCareer app.
Mobile App Icon
Download the
LiveCareer app and find
your dream job anywhere
App Store Icon Google Play Icon
lc_ad

Boost your job search productivity with our
free Chrome Extension!

lc_apply_tool GET EXTENSION

Similar Jobs

Want to see jobs matched to your resume? Upload One Now! Remove
Commercial Loan Processor Collateral Documents

Hilltop Holdings

Posted 3 days ago

VIEW JOBS 3/27/2020 12:00:00 AM 2020-06-25T00:00 Job Summary Under close supervision, performs post-closing review of loans for documentation requirements and cites exception items in collateral tracking system. Assists Loan Officers and Loan Assistants with documentation requirements and exception resolution. Essential Functions Performs post-closing review of loan documentation for discrepancies and deficiencies. This review includes but is not limited to execution of promissory notes, security agreements, and deeds of trust; collateral descriptions; lien positioning; county or state lien filings; titling requirements; flood requirements; inspections; compliance documentation; appraisals & appraisal reviews. Monitors and updates the Bank's collateral tracking system to include the accurate, complete, and current postings of all collateral and loan information for assigned accounts. Identifies and creates exception tracking items in collateral tracking system for collateral reporting deficiencies and discrepancies. Reviews organizational and entity documentation on loan borrowers and guarantors and creates exception tracking items in collateral tracking system. This review includes but is not limited to Articles of Incorporation, Certificates of Formation, Partnership Agreements, Borrowing Resolutions, Loan Agreements, and Guaranty Agreements. Assists lending staff with exception questions and in resolving outstanding exception items. Creates and maintains UCC lien filings on loan collateral with the Secretary of State or through CT Lien Solutions. Review lien search reports performed on loan collateral. Reviews and maintains current status of Certificates of Good Standing on corporate loan borrowers. Special projects as needed by management. On-going training with current staff. Job Requirements * High School diploma, general education degree (GED), or equivalent required; Bachelor's degree in Business or related field preferred. * 1 to 3 years of experience in related field of expertise preferred. * Excellent verbal, written and interpersonal communication skills. * Excellent PC skills, including word processing and spreadsheets via Microsoft Office products as well as custom applications and systems. * Excellent analytical, time management, organizational, and problem-solving skills with the ability to multi-task and work in a deadline-driven environment. * Must be self-motivated with strong attention to detail and high level of accountability. About the Company At PlainsCapital, we've always had a trailblazing spirit. PlainsCapital was founded in 1988 by Alan White and a group of investors who raised the capital to acquire Plains National Bank, a Lubbock financial institution with one branch and $198.8 million in assets. Alan, who retired from his post as Chairman of PlainsCapital Bank in 2019, partnered with a team of young bankers who dreamed of bringing relationship banking to Lubbock, and they began to grow the bank one relationship at a time. Today, PlainsCapital Bank is one of the largest banks in Texas based on deposit market share. Under the leadership of President and Chief Executive Officer Jerry Schaffner, we have a statewide presence with more than 60 locations in all major Texas markets. We are a strong and stable financial institution and a trusted community partner. We take pride in helping our customers blaze trails of their own, whether launching or expanding a business, raising a family, or moving into retirement. Our diverse range of services includes commercial banking, treasury management, private banking, and wealth management, as well as consumer banking. To learn more, please visit us online at plainscapital.com/about. Hilltop Holdings Lubbock TX

Mortgage Loan Underwriter II

First Bank And Trust