Mortgage & Consumer Underwriter in Sioux Falls, South Dakota at Central Bank

POSITION SUMMARY

The Consumer & Mortgage Loan Underwriter is responsible for evaluating, underwriting, and approving residential mortgage and consumer loan applications in accordance with Bank policy, regulatory requirements, and sound credit practices.

This role exercises independent credit judgment to assess borrower risk, structure loans appropriately, and ensure lending decisions align with the Bank’s risk appetite. The position provides flexible underwriting support across retail lending functions, enhancing efficiency and consistency across both mortgage and consumer loan products.

ESSENTIAL DUTIES AND RESPONSIBILITIES

The essential functions include, but are not limited to the following:

Credit Analysis & Risk Assessment

• Analyze borrower financial profiles including income, assets, liabilities, and credit history
• Evaluate repayment capacity, collateral (if applicable), and overall credit risk exposure
• Apply sound credit judgment to determine appropriate loan structure, terms, and conditions
• Approve or decline loans within delegated authority and escalate exceptions as needed
• Ensure all credit decisions are well-supported, documented, and aligned with Bank policy

Mortgage Loan Underwriting

• Underwrite residential mortgage loans in accordance with investor, secondary market, and Bank guidelines
• Validate Automated Underwriting System (AUS) findings for accuracy and completeness
• Review income calculations, tax returns, assets, and collateral documentation
• Assess property appraisals and valuations for adequacy and risk
• Issue clear underwriting decisions, conditions, and stipulations
• Partner with processors to resolve conditions and ensure files meet clear-to-close requirements

Consumer Loan Underwriting

• Underwrite consumer loan products including installment, secured, unsecured, credit cards and other retail products
• Evaluate borrower capacity, creditworthiness, and collateral (if applicable)
• Structure loan terms and conditions within policy guidelines
• Ensure consistency in underwriting standards across consumer loan products
• Support efficient processing and decisioning of consumer loan requests

Condition Management & Workflow Execution

• Review and clear underwriting conditions to ensure all requirements are satisfied prior to closing or funding
• Manage pipeline across mortgage and consumer loan files, prioritizing based on deadlines and complexity
• Maintain consistent turnaround times aligned with service expectations
• Provide guidance on documentation requirements and condition resolution

Risk, Compliance & Quality Assurance

• Ensure all underwriting activities comply with regulatory requirements, investor guidelines, and internal policies
• Maintain consistency in credit decisions and adherence to fair lending standards
• Identify potential risks, inconsistencies, or fraud indicators and take appropriate action
• Support audits, quality control reviews, and regulatory examinations

Collaboration, Communication & Continuous Improvement

• Communicate underwriting decisions, conditions, and rationale clearly to processors and lending staff
• Partner across teams to support efficient loan flow and consistent credit practices
• Provide guidance on structuring loans within policy guidelines
• Identify opportunities to improve underwriting workflows, efficiency, and consistency

Direct Endorsement (DE) Responsibilities (if applicable)

• Independently approve or deny FHA and VA loans under Direct Endorsement authority
• Apply HUD and VA guidelines when reviewing borrower qualifications, property standards, and credit risk
• Serve as a subject matter expert for FHA/VA underwriting within the Bank
• Maintain DE certification and complete ongoing training and recertification requirements

ADDITIONAL RESPONSIBLITIES

• Perform other related duties and responsibilities as assigned by management.
• Assist with training new lenders and staff on consumer and mortgage loan processes, systems, and underwriting expectations

EDUCATION & EXPERIENCE

• Bachelor’s degree preferred or equivalent work experience
• Minimum of 4–5 years of experience in similar or related job duties
• Relevant certifications encouraged, DE designation preferred
• Experience with mortgage underwriting guidelines (FNMA, FHLMC, FHA, etc.) preferred
• Consumer underwriting experience required

Central Bank is an Equal Opportunity Employer.

All qualified applicants will receive consideration without regard to race, color, religion, national origin, ancestry, pregnancy status, sex, age, marital status, disability, medical condition, sexual orientation, gender identity, status as a protected veteran, or any other characteristic protected by law.

We make all reasonable accommodations to meet the obligations under the Americans with Disabilities Act (ADA) and applicable state disability laws.