Senior Mortgage Underwriter

Hancock Holding Company Covington, LA
JOB SUMMARY:

Approves or denies mortgage loans; reviews mortgage loan applications for completeness to ensure that it meets the guidelines for loan product requested and ensures file complies with regulatory and legal guidelines by performing the following duties.

ESSENTIAL DUTIES & RESPONSIBILITIES:

* Underwrites conventional Federal Housing Authority (FHA), Veterans Affairs (VA), Rural Housing Development (RD) and portfolio loans

* Ensures that appraisals meet investor and bank requirements and that the value conclusion is reasonable and well supported

* Reviews all employment, income and asset documentation to ensure that it is accurate and satisfies investor requirements

* Reviews credit history and scores to ensure the borrower's credit meets the investor requirements

* Reviews all documents and information for potential fraud or misrepresentation and for regulatory compliance

* Reviews and evaluates information on mortgage loan documents to determine if buyer, property, and loan conditions meet establishment and government standards

* Evaluates acceptability of loan to corporations that buy real estate loans on secondary mortgage markets, where existing mortgages are bought and sold by investors

* Approves or rejects loan application, or requests additional information

* Records loan rejections, specifying investor and institution guidelines and basis for declining application, such as insufficient cash reserves

* Determines terms and acceptability of risk of prospective business

* Sets prices for prospective mortgage loan applicants

* Approves or rejects loan application, or requests additional information Assembles documents in loan files, including acceptance or denial, and returns files to originating mortgage loan office

* Maintains database on new and existing business

* Coaches Processors, Loan Officers and Junior Underwriters/Validators when appropriate and works with them to find solutions to problems where possible

* Manages and utilizes systems to ensure they accurately reflect the loan request and information (current loan origination system and other investor conduit systems, etc)

* Communicates and coordinates necessary approval requirements and files status with appropriate persons (originator, processor, closers, Realtors, builders, etc.)

* Participates in implementing second review committee for denied loans

MINIMUM REQUIRED EDUCATION, EXPERIENCE, & KNOWLEDGE:

Bachelor's degree; two to four years related experience and/or training; or equivalent combination of education and experience

Language Skills

* Ability to communicate effectively orally and in writing using the English language

* Ability to read and interpret documents such as safety rules, operating and maintenance instructions, and procedure manuals

* Ability to write routine reports and correspondence

* Ability to speak effectively before groups of customers or employees of organization

Mathematical Skills

* Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, percentages, area, circumference, and volume

* Ability to apply concepts of basic algebra and geometry

Reasoning Ability

* Ability to solve practical problems and deal with a variety of concrete variables in situations where only limited standardization exists

* Ability to interpret a variety of instructions furnished in written, oral, diagram, or schedule form

Computer Skills

* Ability to learn, or knowledge of, Microsoft Office products to include Word, Excel, Access, Powerpoint and Outlook

Certificates, Licenses, Registrations

* An FHA DE designation is required and a VA LAP designation is preferred

ESSENTIAL PHYSICAL & MENTAL REQUIREMENTS:

While performing the duties of this Job, the employee is regularly required to sit; Use of hands to finger, handle or feel; reach with hands and arms and talk or hear. The employee is occasionally required to stand and walk. The employee must occasionally lift and/or move up to 10 pounds. Specific vision abilities required by this job include close vision.

Work Environment

* The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. The noise level in the work environment is usually moderate.