Description
Summary:
Responsible for underwriting residential mortgage loans (Conventional, FHA, VHDA, USDA) to determine borrower eligibility in accordance with secondary market, government, and internal lending guidelines. Performs both manual and automated underwriting to ensure accurate, compliant, and timely loan decisions.
Essential Duties:
- Review and analyze mortgage loan applications along with supporting financial documentation.
- Verify borrower income, assets, employment, and credit history for accuracy and completeness.
- Assess borrower’s ability to repay based on financial data and risk factors.
- Evaluate property appraisals to ensure adequate collateral and compliance with lending standards.
- Make underwriting decisions, including loan approval, suspension, or denial, based on established guidelines.
- Ensure compliance with all federal, state, and investor regulations (FHA, VA, Conventional, USDA).
- Maintain accurate and complete loan documentation throughout the underwriting process.
- Communicate loan decisions, conditions, and requirements clearly to loan officers and stakeholders.
- Perform detailed validation of loan documents, including tax returns, bank statements, pay stubs, and employment history.
- Collaborate with loan officers, processors, and closing teams to resolve discrepancies and clear conditions.
- Provide guidance and support on complex or technical underwriting scenarios.
Supervisory Responsibilities:
- This position has no supervisory responsibilities.
Other Duties:
This job description is not designed to be an exhaustive list of duties. Duties, responsibilities, and activities may
change at any time with or without notice.
Bank wide Expectations:
- Stays current, maintains knowledge of, and complies with all F & M products and services and policies and procedures.
- Maintains organized files and a neat and orderly work area and secures all negotiable and/or confidential records.
- Protects the bank's and customers' information; knowledge of customers and their relationship with the Bank must be kept in absolute confidence.
- Displays a positive, cooperative spirit; professionalism; and a responsible attitude to staff and customers always.
- Leads by example while being a team player.
- Participates in Bank-sponsored and other community/civic events as schedule allows.
- Represents F & M Bank professionally and courteously while in contact with the public, either in person or by telephone.
- Pursues personal development opportunities to improve knowledge as it relates to the position, compliance, and the bank in general.
Requirements
Qualification Requirements:
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The
requirements listed below are representative of the knowledge, skills, and/or abilities required.
Knowledge, Skills, and Abilities
- Strong analytical and mathematical skills
- Excellent attention to detail
- Proficiency in mortgage lending software and Microsoft Office
- Familiarity with lending regulations and guidelines
Education and/or Experience (Required and Preferred)
- High School Diploma or GED with a minimum of five years’ experience in loan processing and/or two years’ experience in loan underwriting
Certificates, Licenses, and Registrations:
- FHA DE Approval desired
- Current driver’s license
Physical and Mental Demands:
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential
functions.
Work Environment:
This role routinely uses standard office equipment such as computers, phones, photocopiers, filing cabinets, and fax machines.
Position Type/Hours:
This is a non-exempt position working Monday – Thursday, 8:30 a.m. – 5 p.m. and Friday, 8:30 a.m. – 5:30 p.m.
with overtime as necessary.
Travel: (if applicable)
Travel is primarily within the Bank’s market areas during the business day with occasional out-of-area travel for continuing educational opportunities.
