Residential Loan Underwriter

United States-IL-Chicago
Work Status
Full-Time
Department
Residential Lending Underwriting
FLSA Status
Exempt
Requisition ID
2018-1788

Start a Rewarding Career with Alliant

Why Alliant?

We’re not a typical financial institution – we’re better. We’re an innovative, fun-loving, highly-engaged group of professionals that are committed to our company and the communities we do business in. We love to recognize and celebrate each other.

 

Over 90% of our employees say we are a great workplace that is focused on our mission, vision and the future of banking.

 

What will your day look like?

You will be responsible for reviewing and underwriting residential loan applications of all levels of complexity in a high volume setting. Underwriting will be in compliance and adherence with Alliant and secondary market guidelines.

Responsibilities

Do you see yourself doing this?

  • Responsible for underwriting First Mortgages and Home Equity Loans in compliance with credit union and secondary market guidelines, and render final credit decisions accordingly.
  • Examine loan disclosures and documentation for accuracy and completeness and work with loan originators, processing staff, third party vendors and members to secure all required documents needed to analyze the credit worthiness of the borrower.
  • Ability to review property title reports and identify and clear unpaid liens and / or judgements.
  • Review financial statements, credit reports and applicable income documentation to determine debt ratios.
  • Ability to review Automated Valuation Models (AVMs) and Appraisals to determine acceptability of collateral.
  • Evaluate and examine transactions to ensure accuracy and adherence to Alliant Credit Union guidelines.
  • Assist with re-negotiations of loans based on counter offers, as needed
  • Provide direct communication with members and both internal and external business partners to gather information to make appropriate decisions, explain rationale behind credit decision.
  • Meet all departmental goals for productivity, quality and turnaround time
  • Ensure all fair lending compliance policies are followed.

 

 

Qualifications

What makes you a great fit?

You’ll be a great fit if in addition to the completion of a High School Diploma (College preferred), 3-5 years of underwriting in a residential or consumer loan environment is required, and you have:

  • A solid knowledge of underwriting including ratios, underwriting terminology, common practices, familiarity with loan documentation and compliance is required.
  • Experience working with computer applications related to mortgage such as SYMITAR and decision engines - Loan Prospector (Freddie Mac) Desktop Underwriting (Fannie Mae) for mortgage loan underwriting is highly preferred.
  • Proficient with Microsoft applications: Outlook, Word and Excel.
  • Must be adaptable and flexible to changing business needs.
  • Must demonstrate the ability to work independently, and as a team member, while using discretion in decision-making and sound judgment in problem solving.

 

When you’re happy, we’re happy!

As a thank you for joining our team, you’ll benefit from:

  • Competitive medical, dental, and free vision benefits
  • Competitive compensation plan
  • Contributions towards gym memberships
  • Generous PTO and banking holidays off

 

Still not convinced?

We’re on the list of 100 Best Medium Companies to work for, check it out here. For more details you can also visit our Glassdoor and LinkedIn profiles.

 

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