Mortgage Underwriter

Employment Type: Full time

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.

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 are in compliance 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.
• Take initiative to stay current on 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 any issues raised by external regulators as applicable.
• Complete other related duties as assigned.

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.
• Underwriters have 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).
• The position will re-underwrite and verify, monthly, a sampling of loans to ensure the accuracy of the documentation.
• Responsibility to 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 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.

Required 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 the saleability of individual loans.

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.

Location

• Clanton, Alabama, United States of America

Company Information

M&T Bank is committed to fair, competitive, and market-informed pay for our employees.