Mortgage Underwriter

North Fifth Street - 355 North Fifth Street, Indiana, PA 15701

Function: A Retail Mortgage Underwriter is responsible for accurately and efficiently underwriting and proactively managing a pipeline of residential mortgage loans, maintaining routine and thorough communications with internal employees, business partners, as well as timely follow-up and response. A Retail Mortgage Underwriter underwrites conventional and portfolio loans to ensure compliance with S&T Bank, secondary market investor, regulatory and mortgage insurance guidelines. An Underwriter must be committed to delivering the highest level of customer service in reviewing loan files and resolving matters which could delay a closing. All critical and closing dates must be adhered to throughout the mortgage process. To accomplish this task an Underwriter must consistently communicate with the Mortgage Processor, Mortgage Banker and all other persons involved in the loan transaction.

Duties and Responsibilities:

• Decisions loans within lending authority adhering to bank and investor guidelines and requirements.

• Acts as primary Underwriter for secondary market loans and some portfolio, including blanket, self-employed, and combo loan files.

• Reviews residential mortgage appraisals for compliance within established guidelines.

• Adheres to established service level agreements.

• Occasionally in contact with secondary market investors and private mortgage insurance companies.

• Maintains knowledge of Portfolio, Investor and private mortgage insurance, underwriting guidelines and regulatory requirements.

• Demonstrates a complete understanding and use of Desktop Underwriter for credit decisions on all loans.

• Reviews and analyzes DU Findings on purchase and refinance loans. on all types of loans. This includes restructuring for possible better findings and applicable pricing.

• Communicates with Mortgage Bankers and occasionally contacts Borrowers, Realtors and Settlement Agents, as necessary, as to the status of loan.

• Reviews assembled loan packages for submission to outside Investors and assure that all documentation is complete and accurate.

• Possess the ability to summarize the contents of the mortgage file, determine risk of file and make recommendation.

• Monitors loan packages forwarded to Investors to ensure timely response.

• Cross-sells other bank products and services.

• Maintains a good working relationship with all bank employees. Demonstrates the ability to work independently. Works as a team player to contribute to the success of the department and in turn the organization.

• Has a thorough knowledge of loan origination system and related vendor services.

• Performs additional duties as required.

Physical Demands

Operates a keypad device, electronic equipment, office equipment: 90% of the day. The primary parts of the body involved in performing these tasks are the fingers, thumb, hands, wrists, elbows, legs, lower and upper torso and feet. The job requires sitting 6 hours per day in a straight and leaning position. Walking is required one hour per day which is slow in speed. Requires the use of manual dexterity skills for typing and filing up to 75% of the business day. Specific vision requirements include close vision of 18"-20" for computer work. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.

Education

Requires a high school diploma or equivalent basic academic education.

Experience

Requires two to five years of general experience, including two to five years of specialized experience as a mortgage processor, underwriter or other area of credit analysis or financial review.

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities

The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor's legal duty to furnish information. 41 CFR 60-1.35(c)

Salary Range: