Junior Residential Loan Underwriter
Junior Residential Loan Underwriter
Department/Location: Loan Department / TBD
Employee Reports to: Residential Loan Manager
FLSA: Hourly; Non-Exempt position
Status: Full-Time 76-80 Hours - We offer flexible hours for this role with part-time schedules available.
Rate of Pay: Grade 16 / $23.09 - $33.96 per hour
Summary/Objective: This position will be in training to learn how to evaluate and analyze residential loan applications to ensure compliance with company policies and regulatory requirements. The Junior Residential Loan Underwriter will learn how to review creditworthiness, income, assets and collateral to determine the level of risk. The junior underwriter will work directly with the Residential Loan Manager, Assistant Manager and Underwriting Supervisor during the training process. Upon completion of training the junior underwriter will work closely with loan officers, processors, and other team members to deliver timely, accurate decisions while maintaining excellent customer service standards. This position will have no loan approval authority.
Essential Job Functions:
- Review and analyze loan applications and supporting documentation
- Analyze financial documentation, asset statements, credit-related documents and collateral documentation
- Assist with evaluating loan risk and making recommendations
- Verify accuracy and completion of all required loan documentation using compliance and underwriting guidelines
- Communicate with internal teams regarding application status and needed documentation
- Provide general administrative and operational support as needed
- Maintain and stay up to date on knowledge of all applicable regulations, bank policies, secondary market guidelines, and industry changes
- Other related tasks as assigned