Mortgage Underwriter

$45,510 - $60,590/Yr

US Bank - Chicago, IL

Full-time - Entry Level

Chicago, IL

Credit Intermediation and Related Activities

About the position

At U.S. Bank, we are committed to helping our customers and communities thrive by making informed financial decisions. As a Mortgage Underwriter, you will play a crucial role in this mission by analyzing and evaluating residential loan applications that originate from our branch offices. Your primary responsibility will be to gather, analyze, and interpret various types of credit information for both existing and prospective retail banking customers. This process is essential for maximizing credit opportunities while minimizing risk and potential losses for the bank. In this role, you will develop and maintain a loan underwriting portfolio that aligns with the bank's guidelines for credit quality and standards. You will have the authority to approve or deny loans within specified limits and will be responsible for making critical decisions regarding credit structure and loan eligibility. The position is open to candidates with a minimum of one year of experience in mortgage, sales, real estate, or banking, and the successful candidate will be hired at a level that corresponds with their experience. While this role is posted as remote, candidates located near any of our branch locations will be required to work on-site at least three days per week. This flexibility allows us to support our employees while ensuring that we maintain a strong connection with our customers and the communities we serve.

Responsibilities

• Analyze and evaluate residential loan applications originated by U.S. Bank branch offices.
• Gather, analyze, and interpret credit information for retail banking customers.
• Develop and maintain a loan underwriting portfolio consistent with the Bank's guidelines.
• Approve and/or deny loans within specified limits.
• Make credit structure and loan eligibility decisions.

Requirements

• Bachelor's degree or equivalent work experience.
• One to two years of experience in credit analysis and/or lending activities.

Nice-to-haves

• Basic understanding of factors affecting real estate values and credit analysis.
• Ability to analyze and interpret credit quality information.
• Basic knowledge in credit analysis, underwriting, administration, policy and procedure.
• Basic knowledge of accounting and finance principles.
• Ability to manage multiple tasks/projects and deadlines simultaneously.
• Proficient computer skills, especially in Microsoft Office applications.
• Effective verbal and written communication skills.
• Previous underwriting experience with Mortgage or Consumer Lending.
• Experience in title review, income review, and credit review.

Benefits

• Healthcare (medical, dental, vision)
• Basic term and optional term life insurance
• Short-term and long-term disability
• Pregnancy disability and parental leave
• 401(k) and employer-funded retirement plan
• Paid vacation (from two to five weeks depending on salary grade and tenure)
• Up to 11 paid holiday opportunities
• Adoption assistance
• Sick and Safe Leave accruals of one hour for every 30 worked, up to 80 hours per calendar year unless otherwise provided by law