More than just your average bank.
Mortgage Loan Underwriter
Location
Minnesota
Posted
90 days ago
Salary
$90K - $100K / year
Seniority
Senior
Job Description
Mortgage Loan Underwriter
Luminate Bank
• Review mortgage loan applications and supporting documentation (credit reports, income documents, appraisals, etc.) to assess borrower qualifications. • Evaluate loans according to company, investor (Fannie Mae, Freddie Mac), and regulatory guidelines. • Analyze risk factors and ensure loans meet product and compliance requirements. • Render loan decisions (approve, suspend, or deny) and provide detailed conditions and rationale. • Maintain thorough and accurate documentation in loan files and LOS (Loan Origination System). • Communicate underwriting decisions and conditions clearly to processors, loan officers, and other stakeholders. • Stay updated on investor guidelines, industry trends, and regulatory changes (e.g., TRID, ATR/QM, HMDA). • Work collaboratively with processing and closing departments to resolve issues and ensure timely closings.
Job Requirements
- Strong understanding of mortgage underwriting guidelines (Fannie Mae, Freddie Mac, FHA, VA, USDA, Jumbo)
- FHA, VHA and or jumbo experience required
- High attention to detail and accuracy
- Strong analytical and decision-making skills
- Proficient in LOS systems (e.g., Encompass, Blend) and Microsoft Office Suite
- Effective verbal and written communication skills
- Ability to work independently in a deadline-driven environment.
Benefits
- Competitive compensation reliant on ability and experience
- Excellent benefits package including health, pre tax HSA, FSA accounts and dental & vision
- Life and AD&D Insurance, as well as additional voluntary benefit possibilities
- 401K with robust company match
- Flexible PTO program
- Earned Sick & Safe Time (ESST)
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