At Mercantile Bank of Michigan, we are dedicated to our Customers, Employees and Communities. Our exceptional team members are committed to maintaining an environment of personal growth and development while providing professional and personalized service to customers and supporting our diverse communities.
Employees are our most valuable asset! If you have an interest in joining a team that operates with INTEGRITY, DISCIPLINE and PURPOSE, consider Mercantile Bank as a potential employer.
The Residential Mortgage Underwriter is responsible for the evaluation of retail mortgage files to ensure they meet secondary market investor and/or bank loan portfolio guidelines.
ESSENTIAL DUTIES AND RESPONSIBILITIES include the following:
- Analyzes and generates an underwriting decision for loan requests submitted from the residential mortgage department.
- Ensures files meet specific secondary and investor product guidelines and parameters including complex FNMA, FHLMC, FHA, MSHDA, RD, Jumbo and Portfolio loan programs. Prior experience with FHLB's HOP and other community homeownership-initiative programs is ideal.
- Retains a current and complete knowledge of the Bank's loan policy guidelines and stays abreast of secondary market changes.
- Analyzes income including self-employed income Schedule C's, S-Corps & Partnerships and other supplementary income or business income sources.
- Analyzes and reviews appraisal reports and requests clarifications or corrections from vendor.
- Complies with government laws and regulations pertaining to mortgage lending. Responsible for following all adopted policies, procedures and regulatory requirements applicable to the job function.
- Addresses any internal and external audit findings promptly and professionally while working with management to address issues. Aids new
- Works as a team with the Loan Processors and Lenders in regards to questions on loan structure and guideline adherence.
- Understands Adverse Action guidelines and other critical HMDA-related functions.
- Assists with job shadowing for other Mortgage and Bank employees wishing to obtain more knowledge of the mortgage process.
- Assists in training and mentoring of new Underwriting team hires.
- Proficient use of the Bank's LOS, Outlook and other appropriate tools/resources to efficiently and accurately perform the review function.
- Other duties and responsibilities as needed.
EDUCATION and/or EXPERIENCE
- Bachelor's degree from four-year College or university
- 3-5 years related mortgage underwriting experience; or an equivalent combination of education and experience.
- 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.