Mortgage Loan Underwriter

Kearny Bank•Fairfield, NJ

1d•$75,000 - $105,000

About The Position

The Mortgage Loan Underwriter is responsible for evaluating and underwriting residential mortgage loan applications in accordance with the Bank’s established policies and procedures. This role independently assesses borrower risk, renders underwriting decisions within delegated lending authority and ensures loan files are complete, accurate, and well documented to support safe and responsible lending.

Requirements

High school diploma or equivalent required; bachelor's degree preferred.
Minimum of three years of experience in the mortgage industry required.
Experience underwriting conventional loan products preferred.
Strong working knowledge of real estate documentation, underwriting policies, compliance standards and procedures.
Working knowledge of federal and state regulations and requirements.
Proficiency with mortgage loan processing and underwriting systems, such as Encompass, Desktop Originator and Loan Prospector; experience with all three applications preferred.
Proficiency in Microsoft Office applications.
Strong analytical skills and meticulous attention to detail.
Excellent written and verbal communication skills.

Responsibilities

Review and evaluate residential mortgage loan applications to determine eligibility, appropriate funding sources and applicable loan programs.
Perform comprehensive analyses of borrower income for all borrower types, including review of complex tax returns and financial statements, completion of required income calculation worksheets, and evaluation of multiple and varied sources of funds.
Establish borrower creditworthiness through analysis of credit, capacity and collateral.
Review loan packages for accuracy and completeness, and request additional documentation or clarification as needed.
Partner with Mortgage Loan Originators (“MLOs”) and loan processors to resolve documentation issues, clarify underwriting conditions, and facilitate timely underwriting decisions, escalating matters to a supervisor when necessary.
Evaluate risk related to borrowers, collateral and transaction structure.
Provide final underwriting approval for mortgage loans including leaseholds, construction loans, non-owner-occupied properties, condominiums, mortgage insurance secured loans, and other higher risk loans.
Ensure all loans meet internal policies, regulatory requirements, agency guidelines and investor standards.
Maintain current knowledge of agency, regulatory and investor underwriting guidelines.
Thoroughly interpret and apply underwriting standards to ensure compliance with all applicable requirements.