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Senior Residential Mortgage Underwriter (Mercantile Bank of Michigan)
Ref No.: 16-08212
Location: Lansing, Michigan
  • Department: Mortgage Operations
Summary
The Residential Mortgage Underwriter is responsible for the evaluation of retail mortgage files to ensure they meet secondary market investor and/or bank loan portfolio guidelines.

Essential Duties and Responsibilities

Includes the following. Other duties may be assigned:
  • Analyzes and generates an underwriting decision for loan requests submitted from the residential mortgage department.
  • Ensures files meet specific secondary and investor product guidelines and parameters including complex Client, FHLMC, FHA, VA, MSHDA, RD, Jumbo and construction loan programs. Prior experience with FHLB's HOP, NIP, and other community homeownership-initiative programs is ideal.
  • Retains a current and complete knowledge of the Bank's loan policy guidelines and stays abreast of secondary market changes.
  • Analyzes income analysis including self-employed income and other supplementary income or business income sources.
  • Analyzes and reviews appraisal reports and requests clarifications or corrections from vendor.
  • Complies with government laws and regulations pertaining to mortgage lending. Responsible for following all adopted policies, procedures and regulatory requirements applicable to the job function.
  • Addresses any internal and external audit findings promptly and professionally while working with management to address issues.
  • Works as a team with the Loan Processors and Lenders in regards to questions on loan structure and guideline adherence.
  • Understands Adverse Action guidelines and other critical HMDA-related functions.
  • Assists in training and mentoring of new Underwriting team hires. Reviews new team members' files for underwriting accuracy and compliance.
  • Works with management team to help introduce new loan program offerings to staff. Suggests improvements to current loan programs and policies.
  • Proficient use of the Bank's LOS, Outlook and other appropriate tools/resources to efficiently and accurately perform the review function.
  • Other duties and projects as requested.
Supervisory Responsibilities
None, however ability to work in a team environment is essential.

Education and/or Experience
Bachelor's degree from four-year College or university; or 3+ years related mortgage underwriting experience; or an equivalent combination of education and experience. FHA Direct Endorsement certification preferred.

Mathematical Skills
Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, and percentages.

Reasoning Ability
Ability to apply common sense understanding to carry out detailed but uninvolved written or oral instructions. Ability to analyze loan scenarios to ensure they represent a solid credit risk to the bank.

Work Environment
Ability to work in an office environment which may include many hours of computer and phone usage. Reasonable accommodations may be made to ensure individuals with disabilities can perform the essential functions.

ControlID: 14.234.89 SHR