Mortgage Underwriter

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 the requirements of Federal registration under the SAFE Act.

Employment Type

Full-time

Salary

$24.76 - $41.27 Hourly (USD)

Location

Clanton, Alabama, United States of America Location Type: On-site

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, ensuring 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 and 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.

Scope of Responsibilities

• Collaborate 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.
• Maintain frequent day-to-day communication with external and internal customers.
• Possess a complete understanding of investor guidelines and the ability to run and interpret AUS findings (DU and LP).
• Re-underwrite and verify a monthly sampling of loans to ensure the accuracy of documentation.
• Establish and maintain federal registration requirements outlined in the SAFE Act.

Supervisory/Managerial Responsibilities

• None

Education and Experience Required

• Associate's degree, or in lieu of a degree, 2 years' relevant work experience, plus 4 years of 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 of 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 of conventional underwriting experience.

Skills and Knowledge

• 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.

Company Information

M&T Bank is committed to fair, competitive, and market-informed pay for its employees. The specific pay range applicable to you may vary based on your location.