Mortgage Loan Underwriter (Full Time) - Richardson Ops

External Applicants: Please apply through Prosperity Bank's Career Center at https://www.prosperitybankusa.com/Careers. Applying through any other source may prevent Prosperity from receiving your application. Internal Applicants: If you are a current associate of Prosperity Bank, please apply through the internal Talent - Career Center in ADP. Prosperity Bank is an Equal Opportunity Employer.

POSITION PURPOSE

To review and underwrite consumer purpose real estate secured loans either to be held in the Portfolio or sold on the Secondary Market: 

• Identifies, analyzes, and evaluates loan risks and compensating factors  
• Approves, conditions, and denies loan applications  
• Determines eligibility and problem solves to provide customers with alternative solutions 
• Ensures that loans are approved within the terms of the Bank’s standards and procedures, regulatory underwriting guideline
• For loans sold on the Secondary Market, ensure loans are underwritten to agency and investor guidelines and ensure salability.

ESSENTIAL FUNCTIONS AND BASIC DUTIES

1.         Assumes responsibility for accurately evaluating the credit worthiness of potential borrowers.

• Underwrites Pre-Approval requests, Approval requests, Final Approval requests and reviews and clears conditions.
• Evaluates the adequacy of the applicant’s income and probability that the customer will be able to meet expected financial obligations.
• Reviews borrower’s credit reports.  Reviews the manner which obligations have been met and financial affairs managed. 
• Completes all underwriting functions in accordance with various program requirements.  Understands Bank’s Loan Policy and Underwriting Guidelines to identify exceptions.
• Stays informed regarding Bank’s Loan Policy, Underwriting Guideline, Agency/Investor Guideline changes in lending standards and related legal requirements.
• Maintains a high level of confidentiality.
• Demonstrates an exceptional service level.
• Assists Team Lead, Supervisor and Department Manager in developing and meeting short and long-term goals.

2.         Assumes responsibility for establishing and maintaining effective communication and coordination with Bank personnel and with management.

• Assists and supports Bank personnel as needed.  Answers questions of loan personnel regarding policies and procedures.  
• Attends and participates in meetings and committees as required. 
• Keeps Team Lead, Supervisor and Consumer Credit Underwriting Manager informed of area activities and of any significant problems. 
• Completes and maintains required reports, records, and training. 
• Reports technical problems to appropriate personnel for investigation and to prevent reoccurrence of problems.  

3.         Assumes responsibility for related duties as required or assigned.

• Maintains and updates knowledge of underwriting requirements and policies.
• Stays informed of modifications and updates in software applications.
• Completes annual compliance testing and training on time.
• Performs other duties, tasks and special projects as required, assigned, or directed with or without accommodation.
• Keeps work area clean, secure, and well maintained.
• Provides suggestions for improvements in underwriting policies and procedures.

PERFORMANCE MEASUREMENTS

1.         Loans are reviewed and approved in accordance with applicable legal, regulatory, and program requirements and with established policies and procedures. 

2.         Customers' credit worthiness is thoroughly and accurately analyzed.  Lending practices are “safe and sound”.

3.         Professional business relations exist with Bank personnel.   Assistance is provided as needed.   

4.         Required documentation is complete and accurate.

5.         Maintains service level agreements in underwriting credit applications. 

6.         Management is appropriately informed of area activities.   Reports are complete and timely.

QUALIFICATIONS

Education/Certification:  Associate degree in business or a related field, or an equivalent combination of 

                                                training and work experience.                             

Required Knowledge:        Strong knowledge of credit reports and determination of credit worthiness while 

                                                maximizing productivity and minimizing credit risk. Properly review 3^rd party credit 

                                                and collateral data.

                                                Working knowledge of consumer real estate loans and collateral documentation.

                                                Working knowledge of regulatory requirements.  

Experience Required:        1-5 years’ experience credit underwriting, loan review, mortgage or 

                                                related experience. 

Skills/Abilities:                  Excellent communication skills. 

                                                Sound credit judgment.                

                                                Good organizational skills and attentive to detail.

                                                Able to operate required computer applications, typewriter, 10-key, and other basic 

                                                business machines. 

PHYSICAL ACTIVITIES AND REQUIREMENTS OF THIS POSITION

Talking: Especially where one must frequently convey detailed or important instructions or 

ideas accurately, loudly, or quickly.

Average Hearing: Able to hear average or normal conversations and receive ordinary information.

Repetitive Motion: Movements frequently and regularly required using the wrists, hands, and/or 

fingers.

Average Visual Abilities: Average, ordinary, visual acuity necessary to prepare or inspect documents or 

products, or operate machinery.

Physical Strength: Sedentary work; sitting most of the time. Exerts up to 10 lbs. of force 

occasionally. (Almost all office jobs.)

WORKING CONDITIONS

None:  No hazardous or significantly unpleasant conditions (such as in a typical office).

MENTAL ACTIVITIES AND REQUIREMENTS OF THIS POSITION

Reasoning Ability:  Ability to deal with a variety of variables under only limited standardization. 

 Able to interpret various instructions.

Mathematics Ability: Ability to compute financial ratios, cash flow and debt service. 

Language Ability: Ability to read a variety of books, magazines, and instruction manuals. 

 Ability to prepare memos, internal loan applications, and reports, using proper 

 punctuation, spelling, and grammar. 

 Ability to communicate distinctly with appropriate pauses and emphasis, correct 

 pronunciation (or sign equivalent), and variation in word order using present, 

 perfect, and future tenses.