Residential Mortgage Underwriter III

Job Title

Working under the direction and guidelines established by the Underwriting Manager(s), underwrites residential mortgage and consumer applications to secondary market / investor requirements, bank policy and procedures as well as all mortgage and consumer regulations. Reviews and analyzes all relevant data and documentation to determine overall risk profile in order to make solid credit decisions.

Underwriter I Accountabilities

Perform a detailed review of the residential mortgage and consumer loan application and documentation as submitted to determine services, disclosures and actions needed to prepare for the processing and underwriting. The detailed review will entail analyzing all documentation, notes, product descriptions, loan profile including but not limited to credit reports, income and asset documentation, HMDA information, collateral, fraud prevention tools and other applicable documentation as required. Register applicable loans with Federal Housing Administration or Veteran Administration. Assign credit, income and property documents in the proper folder. Responsible for effectively communicating and documenting the loan files with any missing information and questionable findings. Make consumer credit decisions within set limits and communicate results to the lending officer. Develop and maintain knowledge of multiple loan product guidelines. Serves as a subject matter expert and back-up for mortgage and consumer analysts and administrative functions in operations.

Duties and Responsibilities

Ensure loans meet applicable agency, bank and regulatory requirements as it relates to documentation and disclosures. Prepares the mortgage and consumer file with all needed documentation and services from internal systems and income / asset vendor providers. Completes all required initial regulatory documentation and electronically sends to the customer(s). Completes clerical work for the underwriting department including but not limited to pre-qualification denials, withdrawn, reporting, etc. Document any discrepancies, missing information, etc. for the underwriting team preventing duplication of review and / or errors. Proficient at running, reading and interpreting fraud results in order to clear the conditions or alert the underwriter of the issues. Complete all required inputs to Encompass and ACTion as well as any ancillary systems. Review all documents to ensure they are needed and park in the appropriate area. Process consumer employee benefit loans that are approved through our human resources department. Keep informed of current and acceptable practices via AllRegs and investor bulletins and websites. Consistently meet or exceed established minimum productivity and quality goals. Works with management in creating efficiencies, developing new ideas and making the department more effective.

Underwriter II

In addition to the accountabilities detailed in an underwriter I, the following will be included for an underwriter II :

Accountabilities

Perform underwriting of conventional and portfolio loans including a detailed review of the residential mortgage and consumer loan application and documentation as submitted to ensure loans meet underwriting guidelines. The detailed review will entail analyzing all documentation including but not limited to credit reports, income and asset documentation, collateral, HMDA information, fraud prevention tools and other applicable documentation as required to render a loan decision ensuring completeness, accuracy and compliance. Responsible for effectively communicating all lending decisions to appropriate parties. Develop and maintain knowledge of multiple loan product guidelines for quick and accurate answers. Provide technical experience and quality assurance on loan approvals. Rework loans to offer new terms, identifying any additional conditions as needed to insure a viable credit decision.

Duties and Responsibilities

In addition to the duties and responsibilities detailed in an underwriter I, the following will be included for an underwriter II : Approve or reject loans within prescribed authority. Prepares presentations for senior management and management loan committee for loans that exceed the approving parties lending authority; and prepares and recommends exceptions to senior management, as necessary. Ensure loans meet applicable agency, bank and regulatory requirements. Analyze borrower's credit profile, collateral and capacity to repay the proposed obligation and accurately calculate borrower's income and debt-to-income ratios. Document lending decisions and complete required screens in the loan origination system that include accurate completion of the underwriting documents as well as adding and / or creating applicable conditions on the loan approval. Proficient at running, reading and interpreting automated underwriting decision results from Loan Prospector, Desktop Underwriter and ACTion. Review and sign off on submitted conditions where appropriate. Communicate loan decisions to clients / internal departments within service level agreements times. Work closely with all mortgage and consumer personnel to answer specific loan questions, clarify specific conditions or documentation requested and to resolve problems. Maintain and cultivate an effective working relationship with internal departments compliance, appraisal desk, QC, closing, and post-closing. Providing responses that are timely and thorough.

Underwriter III

In addition to the accountabilities detailed in an underwriter II, the following will be included for an underwriter III :

Accountabilities

Perform underwriting of construction, jumbo, FHA, VA, USDA and / or state housing including a detailed review of the residential mortgage loan application and documentation as submitted to ensure loans meet underwriting guidelines. The detailed review will entail analyzing all documentation including but not limited to credit reports, income and asset documentation, collateral, fraud prevention tools and other applicable documentation as required to render a loan decision ensuring completeness, accuracy and compliance. Accurately qualify borrowers with complex income structures : partnerships, S-Corps, C-Corps, capital gains, dividend / interest, rental income, etc. Works to assist mortgage / consumer operations leadership to document and implement new processes. Responsible for the training of new underwriters as well as conducting reviews of their work to recommend loan authority. Mentor loan officers in delivering excellence in the loan experience.

Duties and Responsibilities

In addition to the duties and responsibilities detailed in an underwriter II, the following will be included for an underwriter III : Responsible for the continued development of underwriting by mentoring and coaching through unique loan situations and errors identified. Works directly with investors, agencies and guarantors to resolve questions, complex issues and suggest alternatives to common approaches of underwriting. Leads team projects, initiatives and is the subject matter expert on testing of system and process changes. Serves as the "one-up" for reviewing denials and disagreements on underwriting decisions. Compliance and control : Assists in ensuring that the bank is in compliance with local, state and federal regulations.

Competencies

Adaptability / flexibility Adapts to change, is open to new ideas, takes on new challenges, handles pressure, adjusts plans to meet changing needs. Initiative Takes independent action, operates as a pro-active self starter, acts on opportunities, practices self development. Integrity / ethics Deals with others in a straightforward, honest manner, is accountable for actions, maintains confidentiality, supports company values, conveys news good or bad. Interpersonal skills Has good listening skills. Vision / values Supports company mission / values through daily actions and decisions, communicates the bank's vision, mission and values to others, incorporates vision when planning.

Knowledge / Skills & Experience Requirements

Underwriter I : High school diploma or equivalent. College, business, banking, or professional training helpful. 2-3 years of mortgage documentation / regulatory experience. Ability to work independently. Strong analytical skills. Detail oriented. Experience with Encompass loan origination system or ACTion a plus. Proficiency with Microsoft Office products such as Word and Excel. Strong communications skills, verbal and written.

Underwriter II : In addition to the knowledge / skills and experience requirements of a level I underwriter, the following will be required for a level II : 3-5 years of residential and or consumer lending underwriting experience. Ability to handle complex problems. Ability to make risk based lending decisions supported with relevant data and research. Excellent direct customer service skills.

Underwriter III : In addition to the knowledge / skills and experience requirements of a level II underwriter, the following will be required for a level III : College diploma preferred. Minimum of 5 years of residential lending underwriting experience. DE or SAR / LAPP certifications are preferred. Experience underwriting FHA, VA, USDA, construction, non-conforming portfolio jumbo programs and state housing.

Physical Demands / Conditions Requirements

General office environment. Moderate lifting (to 35 lbs.) required. Moderate reaching, walking, sitting and standing required. Equipment used : General office equipment. External and internal applications, as well as position incumbents who become disabled, must be able to perform the essential functions (as listed) either unaided or with the assistance of a reasonable accommodation to be determined by management on an individual basis.

At Bangor Savings, we understand the importance of continuing to nurture an internal culture of excellence for each of our employees. We offer internal and external training to assist our employees in realizing their career aspirations including internships, lateral training, management training, and tuition reimbursement. We also offer a unique set of benefits designed to support our employees in living their best life and achieving their goals. Our holistic health and wellness programs allow each employee to customize their approach to well-being. And our pay, rewards, recognition, and incentive programs ensure that they are well-compensated for a job well-done. At Bangor Savings Bank, the work our employees do each and every day allows us to deliver on our promise to make a difference in the lives of people in New England in a way that really matters. Bangor Savings Bank provides equal employment opportunities to all applicants and employees without regard to race, color, religion,