• Company:
  Harris Bank
• Location:
  Rolling Meadows, IL 60008
• Position Type:
  Full Time
  Employee
• Industries:
  Banking
• Job Category:
  Banking/Real Estate/Mortgage Professionals
• Occupations:
  Underwriter
• Work Experience:
  2+ to 5 Years
• Career Level:
  Experienced (Non-Manager)
• Salary:
  $60,000.00 - $75,000.00 /year



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At our company, we have been helping our customers and communities for over 125 years. In July 2011, our parent company BMO Financial Group acquired Marshall & Ilsley Corporation (M&I). Over the next year, we will be working to bring the best of Harris and M&I together under the BMO Harris Bank name.  Working with us means being part of a team of talented, passionate individuals with a shared focus on working together to deliver great customer experiences. We stand behind your success with the support you need to turn your potential into performance. 

BMO Harris Bank is committed to an inclusive, equitable and accessible workplace. We are an Equal Opportunity Employer. By embracing diversity, we gain strength through our people and our perspectives.

MANDATE  

Under the direction of the Mortgage Operations Manager - Underwriting, this job is accountable for the daily review and disposition of standard first mortgage loan transactions received at the Consumer Lending Center (CLC).  The incumbent will make credit decisions/recommendations in accordance with sound credit-granting principles and in compliance with Bank Policy & Procedures. This individual verifies that credit is issued in accordance with the Harris Products and Programs offering, as well as federal, state and local regulations.  Furthermore, this position is responsible for requesting adequate documentation to help certify that an applicant is financially able to repay the debt in accordance with the loan terms that they have requested in effort to mitigate any potential risk the bank assumes by issuing credit to a potential borrower(s).

KEY AREAS OF ACCOUNTABILITY

A. Underwrite and disposition standard first mortgage loans transactions

- Accurately decision loans up to $1,000,000 for Level 1 and 2 portfolio transactions

- Maintain expert knowledge of all bank loan programs (saleable and portfolio)

- Keep up awareness of all regulatory standards and industry trends

- Ensure adequate pricing and loan concession have been applied to a particular transaction

- Document loan exceptions in accordance with bank policies and procedures

- Communicate underwriting decisions with the Mortgage Loan Origniator, and address their questions and/or concerns

B. Mentor and develop the underwriting knowledge and skill set of junior level staff       

C. Assist the Underwriting Manager in analyzing and resolving routine/complex operational problems

- Advise Underwriting Manager of potential process inefficiencies

AUTHORITIES 

To deliver on these accountabilities, the incumbent must have the following authorities:

- Credit / Lending - This job has the credit authority to exercise lending limits to approve quality deals that exceed subordinates' discretionary limits.

- $1,000,000 lending authority - Level 1, and 2 transactions

SCOPE AND IMPACT:

The job is accountable for collateral security, risk management and the maintenance of internal and external control standards and effectively employing managerial accountabilities and authorities. 

This job has direct impact on the achievement of key business unit objectives.  Key numerical measures are as follows:

- Productivity: underwrite 80 loans transactions per month

- Product Offerings: more than 50

Additionally, this role requires the individual to consistently contribute to their goal of Mortgage Operations while adhering to all bank defined policies for dress, attendance, continuing education and security directives.

CROSS FUNCTIONAL RELATIONSHIPS 

The Underwriter II will need to maintain a working relationship with numerous internal department and external vendor contacts, which are detailed below. 

Internal:

- Mortgage Operations Staff and Managers (Sales, Processing, Underwriting, Closing)

- Secondary Markets Unit (SMU)

- Consumer Lending Product Management

External:

- Mortgage Insurance Vendors - Individual who works in the vendor's Underwriting Department

Job Requirements:

KNOWLEDGE AND SKILLS:

- This position requires Credit Qualification.  The incumbent must possess an In-depth level of Credit knowledge and skills and Working level of Portfolio Management knowledge and skills according to the standards established within the Credit Qualification Process Policies & Procedures.

- University or Undergraduate degree, or equivalent work experience

- Minimum of 7 years in underwriting first mortgage transactions

- In-depth knowledge of real estate lending products, regulatory compliance and secondary market guidelines (FNMA/FHLMC/FHA).

- Computer literate and strong familiarity with credit financial analysis techniques

- Excellent communication and relationship building skills

- Proven leadership skills

- Excellent judgment, logic and reasoning

BMO Harris Bank thanks all applicants. We advise only those who qualify for an interview