Summer Internship Program - Mortgage

U.S. Bank

At U.S. Bank, we're passionate about helping customers and the communities where we live and work. The fifth-largest bank in the United States, we’re one of the country's most respected, innovative and successful financial institutions. U.S. Bank is an equal opportunity employer committed to creating a diverse workforce. We consider all qualified applicants without regard to race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability or veteran status, among other factors.

Looking for an internship where you’ll really make a difference? Apply at U.S. Bank.
 
What you’ll do
We offer a competitive 12-week paid internship where you’ll work on meaningful projects and effect real change at our company. Our interns get hands-on experience solving business needs and helping in the communities where we live and work. You’ll build your resume while making new connections and sharpening the skills you need to succeed at work. Plus, the work you do will be tailored to your interests. A typical employee spends eight hours a day at work. We think you should spend that time doing something you love – not just earning a paycheck.
 
Our internship program spans several markets across the country. As a U.S. Bank intern, you’ll have the opportunity to interact with senior executives, get paired with a formal mentor and attend fun events specifically tailored for interns, including a Volunteer Day where you’ll give back to the community. In your day-to-day work, you’ll learn how employees collaborate to serve all our stakeholders. Your meaningful work experience may even translate into a full-time position in the banking industry upon completion of your internship.
 
Why U.S. Bank?
Join a team of more than 73,000 employees in 28 states and eight countries, all committed to doing the right thing, making smart changes and collaborating for the good of our customers, communities, and other stakeholders – and especially for the good of one another. But don’t just take our word for it – we’ve been recognized by the Ethisphere Institute as a 2017 World's Most Ethical Company® for three years running.
 
Part of doing the right thing is making sure our employees feel welcome and supported at work, while challenging you to develop personally and professionally. At U.S. Bank, you’ll be empowered with the tools you need to succeed in your role and grow your career.
 
We can’t wait to meet you – apply today.
 
Internship Responsibilities: 
  • Handle confidential customer information
  • Assist team in preparing and processing mortgage loan records, filing and correspondence from application through approval
  • Improve monitoring, analysis, processing and reporting on U.S. Bank’s pipeline of first mortgages (loans, rate locks and hedges)
  • Develop an understanding of mortgage banking concepts including capital markets pricing, pipeline progression, fallout, hedging, rate shocks, etc.
  • Participate in modeling and reporting activities related to the valuation and pricing of the Mortgage Servicing Rights (MSR) Asset (e.g., term structure and OAS modeling, delinquency & foreclosure modeling, prepayment modeling and back testing)
  • Provide data retrieval and preparation, data analysis and report generation, and the automation of existing production and reporting processes via VBA or scripting languages
  • Assure compliance with bank, regulatory and investor guidelines and customer service standards
  • Aid in communication with customers, internal staff, brokers, counsel, title companies, etc. to respond to inquiries, resolve problems and obtain all necessary documentation required for the file
  • Assess customer qualifications for financing by reviewing and analyzing income and asset information
  • Communicate with customers on status and obtain information as needed
  • Work with underwriting and closing departments to ensure customer service expectations are met
  • Assist with and prepare financial data, portfolio credit quality and comprehensive written analysis
  • Support Relationship Manager in presenting credit requests to Credit Approval, identifying cross-sell opportunities with customers and making appropriate referrals

Qualifications

Skills and Qualifications:

  • Working towards a degree in a quantitative field preferably in Statistics, Finance, Economics (with a focus of applied Econometrics), Applied and Computational Mathematics preferred
  • Strong written and verbal communication, analytical, problem solving and critical thinking skills
  • Ability to think and work independently with a professional demeanor
  • Highly organized; ability to prioritize time-sensitive assignments
  • Demonstration of curiosity and desire to learn, as well as contribute to the team
  • Strong Microsoft Access and Excel skills
  • Excellent mathematical and analytical skills, working knowledge of finance and financial analysis
  • Strong programming skills and proficiency in at least one of the following languages: SAS, Matlab, EViews, SPSS, R, SQL, C++, VBA

Explore your career possibilities at U.S. Bank and join a company that’s as passionate as you are about helping our customers meet their goals and making a difference in the communities we live and work. Our industry-leading financial performance, innovative spirit and best-in-class reputation empower employees to succeed. U.S. Bank is an equal opportunity employer committed to creating a diverse workforce. We consider all qualified applicants without regard to race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability or veteran status, among other factors.

Job

Specialized

Primary Location

Ohio-OH-Cincinnati

Shift

1st - Daytime

Travel

No 40

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Confirmed 17 hours ago. Posted 30+ days ago.

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