Luminate Bank® is more than a bank—we're Banking Brighter® by making financial success simple, accessible, and rewarding. Whether you're purchasing a home, growing your savings, or planning for long-term stability, we offer expert guidance and personalized solutions to illuminate your path. Our seamless digital banking, tailored lending options, and wealth-building strategies empower you to take control of your financial future. With competitive rates, clear insights, and a customer-first approach, we help you make informed decisions with confidence. No matter where you are in your journey, Luminate Bank® is here to support you every step of the way.
Position Overview: The Mortgage Underwriter is responsible for evaluating and analyzing residential mortgage loan applications to determine creditworthiness and risk, ensuring loans meet investor and regulatory guidelines. This role involves reviewing documentation for completeness and accuracy, assessing borrower financials, and issuing timely loan decisions.
Essential Duties and Responsibilities:
- 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.
- Participate in audits and quality control reviews as needed.
- Maintain performance goals including turnaround time and accuracy.
Qualifications and Skills:
- 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)
- The opportunity to work for the Midwest’s fastest growing lender
We are an equal opportunity employer and value diversity in our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.
