Residential Mortgage Underwriter

Location

Michigan | United States

Job description

Mercantile Bank is hiring immediately for an experienced Residential Mortgage Underwriter. This is a great opportunity that allows for flexibility to work from home or one of our Mercantile Bank offices that is closest to you, if you reside in one of our Michigan markets. Our Mortgage team is collaborative, energetic and they work toward the common goal to ensure that our customers have the best experience when buying their dream home.

Who We Are

Mercantile Bank was created with a goal to deliver financial solutions that empower people and businesses to achieve their dreams, while bettering the lives of its employees and their communities. We have grown from a humble idea to over 40 locations, 5.25 billion in total assets, and nearly 700 employees. Our values remain at the heart of everything we do - through inclusivity, innovation, and collaboration, we achieve excellence every day and are accountable not only to our customers, but to our employees and the communities in which we serve.

We are proud to invest in our people and our communities, and our employees show their integrity in every interaction. We believe in hiring people based on their character and if necessary, teaching them the skills they need to be successful. We focus on developing employees and seek to promote from within whenever possible.

Our reputation as a great place to work didn't just happen. Our intentional efforts to provide excellent benefits, competitive wages and bonuses, volunteer opportunities, and many options for you to get involved, whether your interest is in learning more about banking, sharpening your leadership skills, or planning a fun activity we have a way for you to get connected with others in the bank and the community. We're proud (but honestly not that surprised) to be one of West Michigan's Best and Brightest Companies to Work For, 16 years and counting.

Residential Mortgage Underwriter: Rewards and Benefits

Some of the medical and wellbeing benefits we provide are:

• Multiple medical, dental, and vision plans to choose from
• Flexible Spending Accounts (FSA)
• Paid Time Off: 3 weeks paid vacation, sick time to care of yourself and your family, 11 paid holidays and a Giving Day to do work that you are passionate about in your community.
• Company Paid Life Insurance of 3 times your annual salary.
• Employee Assistance Program (EAP)
• Adoption and IVF Assistance
• Fitness Equipment Purchase Plan

We also provide many opportunities to invest in your financial wellness and career development by providing:

• 401(k) match at 100% up to the first 5% of your contribution
• Employee Stock Purchase Plan
• 529 College Savings Plans
• Discounted bank services
• Legal protection
• Tuition Reimbursement
• Exceptional training, and development opportunities tailored to your career interests and goals.

Residential Mortgage Underwriter: Responsibilities and Daily Duties

As a Residential Mortgage Underwriter, you will evaluate mortgage files to ensure they meet secondary market investor and/or bank loan portfolio guidelines by analyzing and generating an underwriting decision for loan requests submitted from the residential mortgage department. Files must meet specific secondary market and investor product guidelines including complex FNMA, FHLMC, FHA, MSHDA, RD, Jumbo and Portfolio loan programs.

You will Analyze customers loan-to-value ratio, debt-to-income ratio, credit report, application, income and assets, source(s) of down payment funds, and supporting documentation.

Analyze self-employed income; including Schedule C's, S-Corps & Partnerships and other supplementary income or business income source.

Review appraisals to ensure that loans meet secondary market, investor, and company standards.

The Mortgage industry is constantly evolving and it's important to stay up-to-date with the changes in loan policy, investor guidelines, secondary market trends and all government regulations related to mortgage lending. Underwriters are a valuable resource for the entire Mortgage team, and as such you are happy to answer questions, mentor, coach or train team members. We work together as a team to structure loans that best suit the customer's needs while adhering to guidelines.

Residential Mortgage Underwriter: Requirements and Qualifications

• Minimum of 3 years' experience in Residential Mortgage Underwriting.
• Bachelor's degree or equivalent experience and/or a combination of experience and certifications related to the industry.
• Understands Adverse Action guidelines and other critical HMDA-related functions.
• Strong understanding of Mortgage lending regulations, guidelines, and compliance requirements.
• Must be able to professionally and tactfully address discrepancies and varying opinions.
• Prior experience with FHLB's HOP and other community homeownership-initiative programs is ideal.
• FHA Direct Endorsement certification preferred.

We believe embracing human diversity makes us a better bank. We know it makes us better people.

Employees with dissimilar backgrounds, perspectives, opinions, and lifestyles help us understand the motivations and desires of our many different customers. Thus, we will strive to maintain a workforce that reflects the increasing diversity of the communities we serve by ensuring equal employment opportunity for all persons without discrimination on the basis of race, color, religion, sex/gender (including gender identity), national origin, age, height, weight, disability, medical condition, genetic information, sexual orientation, disabled or Vietnam era veteran, other forms of military status, marital status, or other protected characteristics.

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