Job Summary

Under the direction of the Director of Mortgage Banking, the incumbent will underwrite and evaluate secondary market loan applications by drawing from a thorough knowledge of the underwriting guidelines. Analyze the characteristics, capacity, credit, capital and collateral of the loan file and work with the Mortgage Banker to qualify loans. Keep informed on current practices in secondary market underwriting and real estate regulations.

Primary Accountabilities

• Review and analyze applications for secondary market residential mortgage loans (government and conventional) to determine the viability of approving or denying a mortgage loan application in accordance with the requirements of the secondary market investor.
• Be proficient in the guidelines and requirements of the FHA, VA, USDA/RD, FNMA, SDHDA, NDHFA, MNHFA programs and ensure the loan parameters meet investor requirements and government regulations.
• Review and analyze third party reports such as credit reports, income and asset documentation for accuracy and completeness.
• Analyze and calculate income including the analysis of tax returns to calculate complex income for self-employed borrowers.
• Analyze the collateral to ensure the property meets the standards of the loan program and investor. Work with the appraiser to resolve any clarifications needed on the appraisal.
• Ability to review legal documentation, title work and insurance policies.
• Consult with Mortgage Bankers and Regional Mortgage Assistants to aid in resolving mortgage application questions and challenges in a timely manner.
• Thoroughly document the loan file to support the credit decision.
• Maintain underwriting timelines to ensure all loan timelines are met.

We are looking for sincere professionals who are committed to a culture of helping deliver the right product to the right person or business at the right time. Whether you want to work in a rural setting or a place with an urban skyline, Dacotah Bank has a market for you.