Underwriter

Job DescriptionJob DescriptionDescription:The Underwriter reviews and underwrites residential mortgage and consumer loans, adhering to secondary market requirements and bank policies and bank portfolio guidelines.Essential FunctionsReasonable accommodations may be made to enable individuals with disabilities to perform these essential functions.Reviews, underwrites, and approves all mortgage loans, home equity loans and chattel loans adhering to secondary market requirements and Bank portfolio policies and guidelines.Maintains active knowledge of all loan program guidelines, currently including agency-conforming and non-agency jumbo, Bank portfolio, FHA, VA, USDA, MassHousing & RI Housing. Reviews and evaluates credit history, income documentation, appraisal information and other related materials. Updates automated underwriting system and loan origination system as required for loan sale, investment and HMDA data integrity.Creates clear Commitment Letters issued to borrowers, with conditions understandable to the borrower.Researches and responds to underwriting scenario questions presented by loan officers.Determines and documents loan approval to Ability to Pay guidelines. Determines file compliance with regulatory application guidelines including Truth in Lending and RESPA and ECOA.Assures data integrity for HMDA reporting, investor sale, and quality control purposesReviews and evaluates appraisal reports, including AVM and exterior inspections, typically as a second-signer.Identifies loans requiring private mortgage insurance and determines eligibility.Assists Department Manager with loan closing sign-offs; Pre-Funding Quality Control; and Commitment Letter Review.Prepares loan denial documentation for second review signatures, if applicable.Assumes additional responsibilities as requested.Physical Demands and Work EnvironmentThe physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.While performing the duties of this job, the employee is regularly required to sit and talk or hear, reach with hands and arms; and stoop, kneel, or crouch. The employee must occasionally lift and/or move up to 10 pounds. Specific vision abilities required by this job include close vision, distance vision, peripheral vision, and the ability to adjust focus.Affirmative Action/EEO StatementAn Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, or protected veteran status and will not be discriminated against on the basis of disability.Requirements:Bachelors degree in business, Finance or Accounting preferred or equivalent combination of education and experience.Direct Endorsement underwriting authority for FHA is preferred.Experience in portfolio and construction permanent lending is preferred.Knowledge of lending and underwriting policies and procedures, including guidelines issued by Fannie Mae, Freddie Mac, FHA, VA and USDA.Five years previous lending experience including at least 3 years as a signoff (delegated) underwriter.Knowledge of all federal and state regulations regarding lending and related departments.Skill in assessing quality of loans purchased and originated by the bank.Superior analytical thinking and mathematical skills.Excellent oral and written communication skills.Recent and comprehensive Encompass LOS experience.

Created: 2025-03-25