Please note: this position, based in Middletown, Maryland has potential for hybrid opportunities in the future.
General Summary
The Senior Residential Mortgage Underwriter is responsible for timely and accurately underwriting residential loan requests including secondary market agency loans, government loans, construction loans and portfolio loans. The role includes appraisal and contract reviews. The underwriter must adhere to compliance rules and regulations related to mortgages as set out by federal and state governments and financial institutions. This role supports the Chief Credit Officer in ensuring the Bank’s loan portfolio maintains the highest quality standards by focusing on written evaluation of individual loan requests and ensures that all saleable loans meet agency and investor guidelines. Additionally, this role supports training and development of less experienced underwriting staff as well as providing subject matter expertise across the organization.
Primary Duties & Responsibilities
- Review, analyze, and comment on borrower’s tax return, financial statements, credit, overall financial condition and related material including debt to income ratio, sources of repayment, and viability as well as the Bank’s collateral position, potential risks and mitigating factors with established guidelines. Coordinate with Processing Staff to request any additional information that may be warranted.
- Review and verify accuracy of collateral details, employment profile, credit strength and all other pertinent loan documentation and information.
- Recognize, structure, present and approve requests to maximize customer benefits.
- Collaborate with Lending Staff and other Bank personnel.
- Assist with ongoing loan training and individual growth and development specific to lending personnel, while serving as a resource to employees on underwriting questions.
- Provide adverse actions according to proper regulatory guidelines
- Review residential appraisals prepared on behalf of the Bank.
- Demonstrate excellent organizational skills, attention to detail and the ability to multitask.
- Maintain a positive and productive working relationship with all lending staff.
- Manage mortgage underwriting pipeline to ensure timely decisioning and adherence to regulatory guidelines.
- Clearly identify policy exceptions and accurately maintain the exception tracking report.
- Cooperates with, participates in, and supports the adherence to all internal policies, procedures, and practices in support of risk management and overall safety and soundness and the bank's compliance with all regulatory requirements, e.g. Community Reinvestment Act (CRA), Bank Secrecy Act (BSA), Equal Credit Opportunity Act, etc.
- Perform any and all other duties as assigned by management.
Knowledge, Skills & Abilities
- Associate degree, B.A. Degree or High School Diploma with a minimum of 10 years of direct underwriting experience.
- Strong PC skills; fast and accurate data entry and typing skills.
- Outstanding phone etiquette as well as customer service skills.
- Strong written, verbal and interpersonal communication skills.
- Must be analytical, detail oriented and organized.
- Excellent time management and demonstrated ability to self-direct.
- Comprehensive knowledge of the financial services industry, banking regulations and compliance requirements.
- Adaptable in an ever-changing technological and regulatory environment.
- Excellent communication, interpersonal, teamwork and customer service.
- A strong understanding of business and personal financial statements, including tax returns.
- Demonstration of the ability to identify financial trends with cause and effect.
- The ability to utilize a high level of analytical ability to determine loan risk.
- Excellent communication, interpersonal, teamwork and customer service.
- Commitment to Millennium Financial and Middletown Valley Bank’s Code of Ethics.
Physical Requirements
- Manual dexterity for the functional operation of office equipment, such as computers, calculators, phones, etc.
- Ability to speak, see & hear.
- Mobility sufficient to perform activities required of position including travel to customer locations.
- Ability to stand and sit for extended periods up to and including five to six hours per day.
- Ability to work flexible hours, including nights and weekends.
- Ability to lift up to 20 pounds.
Job Type: Full-time
Pay: $66,583.00 - $106,533.00 per year
Physical setting:
Work Location: In person