Mortgage Underwriter

About the role

This role offers a flexible work arrangement. Candidates residing outside of New England may work 100% remotely. States where remote work is supported are as follows: Maine, Vermont, New Hampshire, Massachusetts, Rhode Island, Connecticut, Florida, Georgia, North Carolina, Colorado, and Virginia. Candidates located within New England are expected to follow a hybrid schedule, combining remote work with on-site days at our Littleton, MA headquarters.

Department

Mortgage Lending Department

Location

Littleton, MA

Responsibilities

• Underwrites first mortgage loans in compliance with all secondary market requirements, private mortgage insurance requirements, regulatory requirements and Workers Credit Union policies.
• Underwrites home equity loans in accordance with private mortgage insurance requirements, regulatory requirements and Workers Credit Union policies.
• Evaluates borrower creditworthiness and collateral to determine loan eligibility and assess overall risk to the credit union.
• Exercises sound judgment in approving, suspending, or denying loan applications based on a comprehensive risk analysis.
• Uses analytic tools (i.e. Collateral Underwriter, fraud prevention, etc.) in the risk assessment of the loan to determine requirements to meet legal and investor requirements.
• Ensures underwriting decisions align with the credit union’s risk appetite, lending policies, and regulatory requirements.
• Remains current on investor and mortgage insurance guidelines.
• Prepares commitment letter for home equity and first mortgage loans.
• Clears loans for closing by ensuring pre-closing conditions have been satisfied.
• Reviews and decides subordination requests according to loan policy.
• Provides the origination staff with support for the review of preapprovals.
• Uses knowledge of investor and mortgage insurance guidelines along with loan policy to not only approve loans as submitted but to restructure loans as required to obtain an approval.
• Tracks key milestones such as contingencies, closing dates, and rate lock expirations; communicate proactively with all applicable teams.
• Collaborates with internal stakeholders to resolve complex loan issues and ensure timely decision-making.
• Prepares and issues revised Loan Estimates in compliance with TRID for any changes in circumstance.
• Maintains confidentiality of all data.
• Upholds the Workers Credit Union “Workers Way” culture through daily interactions and behaviors.
• Performs other duties as assigned to support departmental and organizational goals.

Qualifications

• Education: High School Diploma or Equivalent
• Experience: 2-5 years of experience in secondary mortgage underwriting
• Knowledge: Knowledgeable in real estate lending guidelines and regulations including secondary market
• Skills: Skilled in evaluating borrower credit, collateral, and capacity in accordance with investor and regulatory guidelines
• Software: Proficient in using loan origination systems (LOS) and automated underwriting systems (AUS)

Benefits

• Compensation: Pay Grade 11, FLSA Exempt, Pay Grade Range: $72,072.62 - $90,090.83
• Total Rewards: Comprehensive medical, dental and vision plans, basic life and AD&D insurance, short-term disability and long-term disability, 15+ days of paid time off (PTO) per year, up to 16 hours of volunteer time off (VTO) per year, 11+ paid holidays, 401(k) that includes a Safe Harbor Match of up to 4%, tuition reimbursement program, mental health resources including an Employee Assistance Program (EAP), individualized learning and development programs

Pay

$72,072.62 - $90,090.83

Schedule

Remote work with occasional on-site meetings at the Littleton Headquarters as required.