Mortgage Underwriter II

Eastern Bank•Manchester, NH

About The Position

The Mortgage Underwriter II is responsible for providing accurate and timely loan decisions based on an individual’s credit history, financial position, and strength of collateral. This role ensures compliance with all regulatory requirements and investor guidelines while mitigating risk to the organization. Individuals in the role must have attained Direct Endorsement (DE) status from HUD and/or Staff Appraisal Reviewer (SAR) authority from the VA, and have an extensive understanding of FHA, VA and conventional guidelines. MAJOR RESPONSIBILITIES : Loan Analysis & Compliance Conduct a thorough review of complete loan packages to ensure compliance with company policies, investor requirements, and FHA/VA guidelines. Maintain up-to-date knowledge of all company, investor, and correspondent programs and requirements. Decision-Making & Communication Exercise loan approval authority up to established corporate limits Communicate underwriting decisions clearly and professionally to all relevant parties, both verbally and in writing. Risk Assessment & Documentation Review residential appraisals for accuracy and compliance. Calculate qualifying income, including detailed analysis of tax returns and financial statements. Collaboration & Support Provide guidance and interpretation to Sales and Processing teams on underwriting standards and specific loan files. Offer training and coaching to Loan Officers as needed to ensure adherence to underwriting guidelines. Post-Closing & Audit Response Respond promptly to post-closing, insurance and audit reviews, ensuring timely resolution of any issues. Productivity & Team Contribution Support the underwriting team in achieving productivity goals while meeting individual turn times for new loans and condition reviews. Assume additional duties as assigned, cross-train within the department, and remain responsive to evolving business needs. PROBLEM SOLVING & DECISION MAKING : The mortgage underwriter II is responsible for independently reviewing loan applications to determine eligibility in accordance with the bank’s lending policies and applicable secondary market/investor guidelines. This role exercises sound judgment in analyzing complex financial documentation, resolving discrepancies, and ensuring compliance with regulatory and investor standards.

Requirements

High school diploma or GED or equivalent combination of training and experience
Minimum of 5 years Government Underwriting or equivalent experience
Strong knowledge of mortgage underwriting principles; FHLMC/FNMA/FHA/RD and VA Guidelines; and investor requirements.
Proficiency in analyzing complex financial documents, including tax returns and business financial statements.
Ability to interpret and review residential appraisals accurately.
Excellent communication skills for clear messaging of ideas and decisions.
High attention to detail and strong organizational skills to manage multiple priorities.
Problem-solving mindset with the ability to make sound credit decisions under pressure.
Experience with mortgage loan origination systems and underwriting software.
Strong time management skills to meet strict deadlines and productivity goals.
Commitment to compliance and risk management best practices.

Responsibilities

Loan Analysis & Compliance Conduct a thorough review of complete loan packages to ensure compliance with company policies, investor requirements, and FHA/VA guidelines.
Maintain up-to-date knowledge of all company, investor, and correspondent programs and requirements.
Decision-Making & Communication Exercise loan approval authority up to established corporate limits
Communicate underwriting decisions clearly and professionally to all relevant parties, both verbally and in writing.
Risk Assessment & Documentation Review residential appraisals for accuracy and compliance.
Calculate qualifying income, including detailed analysis of tax returns and financial statements.
Collaboration & Support Provide guidance and interpretation to Sales and Processing teams on underwriting standards and specific loan files.
Offer training and coaching to Loan Officers as needed to ensure adherence to underwriting guidelines.
Post-Closing & Audit Response Respond promptly to post-closing, insurance and audit reviews, ensuring timely resolution of any issues.
Productivity & Team Contribution Support the underwriting team in achieving productivity goals while meeting individual turn times for new loans and condition reviews.
Assume additional duties as assigned, cross-train within the department, and remain responsive to evolving business needs.