Mortgage Underwriter

Employment Type: Full-time

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Position Overview

Responsible for underwriting mortgage loans, including government loans, to determine acceptability with M&T Bank and secondary market standards set by the investor. The goal is to ensure saleability and sound credit quality, while adhering to Federal registration requirements under the SAFE Act.

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Primary Responsibilities

• Underwrite conventional (conforming and non-conforming), FHA, and VA residential mortgage loans per product and investor guidelines through AUS and/or manual underwriting.
• Ensure loans comply with investor requirements, federal, and state laws and regulations.
• Perform risk assessment of credit and collateral to ensure loan saleability and sound credit quality.
• Respond to and resolve any post-closing issues to ensure loan saleability.
• Assist management in clearing conditions and expediting loan closings.
• Stay informed of current practices in loan underwriting and changes in investor and M&T guidelines.
• Adhere to applicable compliance/operational risk controls in accordance with Company or regulatory standards and policies.
• Promote an environment that supports belonging and reflects the M&T Bank brand.
• Maintain M&T internal control standards, including timely implementation of internal and external audit points and addressing issues raised by external regulators.
• Complete other related duties as assigned.

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Scope of Responsibilities

• Works with internal staff (Account Executives, Loan Officers, Broker Coordinators, Loan Processors, etc.) and external customers (Realtors, Mortgage Brokers, etc.) and third parties to expedite the decision process and loan closings for mortgage loans submitted for approval.
• Engages in frequent day-to-day communication with external and internal customers.
• Requires a complete understanding of investor guidelines and the ability to run and interpret AUS findings (DU and LP).
• Responsible for re-underwriting and verifying a monthly sampling of loans to ensure documentation accuracy.
• Responsible for establishing and maintaining federal registration requirements outlined in the SAFE Act.

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Supervisory/Managerial Responsibilities

• None

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Education and Experience Required

• Associate's degree, or in lieu of a degree, 2 years' relevant work experience, plus 4 years mortgage underwriting experience, and Direct Endorsement (DE) or LAPP approval.

  • OR Associate's degree, or in lieu of a degree, 2 years' relevant work experience, plus 5 years underwriting experience to include 2 years' experience on a unique product (CRA, construction, State Bond, etc.).
  • OR Associate's degree, or in lieu of a degree, 2 years' relevant work experience, plus 6 years conventional underwriting experience.

• Full knowledge of credit risk.

• Understanding of appraisals.

• Thorough knowledge of DU/LP valuations (automated underwriting).

• Knowledge of applicable industry tools to ensure saleability.

• Strong verbal and written communication skills with the ability to interact with all levels.

• Thorough knowledge of conforming and non-conforming guidelines.

• Ability to make sound saleable decisions.

• Understanding of risk assessment of both credit and collateral processes and their impact on loan saleability.

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Compensation

• Salary Range: $24.76 - $41.27 Hourly (USD)
  • The successful candidate’s particular combination of knowledge, skills, and experience will inform their specific compensation.
  • The range listed above corresponds to our national pay range for this role. The specific pay range applicable to you may vary based on your location.

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Location

• Clanton, Alabama, United States of America
• Location Type: (Not specified)