Remote Mortgage Equity Underwriter

TEKsystems•Newark, NJ

1d•$24 - $42•Hybrid

About The Position

The Equity Underwriter evaluates and underwrites home equity loans (HEL) and home equity lines of credit (HELOC), ensuring decisions comply with lending policies, regulatory requirements, and risk management standards. The role assesses borrower risk, reviews financial and collateral documentation, makes sound credit decisions, and supports members throughout the lending process. The position is a contract role based in Newark, New Jersey. The work arrangement is described as hybrid or remote depending on location, with a hybrid workplace specified for Newark. Candidates within 60 miles of a training facility may be subject to a hybrid requirement; the listed facilities are in Vienna, Virginia; Winchester, Virginia; Pensacola, Florida; and Coppell, Texas. The schedule is 8:00 a.m. to 4:30 p.m. in the employee’s respective time zone. Overtime may be available when there is a business need. No time off is allowed during the training period. The contract is expected to be open-ended and is not necessarily a contract-to-permanent arrangement. The pay range is $24.00–$41.90 per hour. Individual compensation depends on factors such as qualifications, skills, experience, job knowledge, location, and internal equity. If eligible, benefits for this temporary role may include medical, dental, and vision coverage; critical illness, accident, and hospital coverage; a 401(k) retirement plan; life insurance; short- and long-term disability; a health spending account; transportation benefits; an employee assistance program; and time off or leave. The employer states that it is an equal opportunity employer committed to an inclusive workplace. The successful underwriter is expected to make accurate credit decisions, maintain productivity and quality standards, apply strong risk management practices, provide an exceptional member experience, and support efficient, compliant underwriting.

Requirements

Bachelor’s degree in Finance, Business Administration, Economics, or a related field, or an equivalent combination of education and experience.
At least 1 year of residential mortgage underwriting or home equity underwriting experience.
Strong knowledge of consumer lending principles and credit risk assessment.
Experience analyzing tax returns, W-2s, pay stubs, bank statements, and documentation for self-employed borrowers.
Working knowledge of automated underwriting systems (AUS) and mortgage underwriting guidelines.
Understanding of Fannie Mae, Freddie Mac, FHA, VA, and portfolio lending concepts.
Knowledge of federal and state lending regulations.
Strong analytical, problem-solving, and decision-making skills.
Excellent verbal and written communication skills.
Ability to manage multiple priorities in a fast-paced environment.
Proficiency with loan origination systems and Microsoft Office applications.
Applicants must have underwriting experience; equity underwriting experience is beneficial but can be trained.

Nice To Haves

At least 1 year of home equity or mortgage underwriting experience.
Experience underwriting HELOC and HEL products at a financial institution or credit union.
DE, SAR, VA LAPP, or other relevant underwriting certifications.
Familiarity with automated valuation models (AVMs) and collateral risk assessment.
Experience working in a highly regulated financial services environment.

Responsibilities

Review, analyze, and underwrite HEL and HELOC applications under company lending guidelines and applicable regulations.
Assess borrower creditworthiness using credit reports, income and employment documentation, assets, liabilities, and property information.
Evaluate LTV, CLTV, DTI, and other risk metrics.
Make lending decisions within delegated authority and recommend exceptions when appropriate.
Ensure compliance with federal and state lending regulations, including Fair Lending, RESPA, TILA, ECOA, and HMDA requirements.
Review appraisals, title reports, and collateral documentation to determine property eligibility.
Clearly communicate underwriting decisions, conditions, and requirements to processors, loan officers, and other stakeholders.
Identify and mitigate credit, operational, and fraud risks.
Manage a high-volume pipeline while meeting quality, productivity, and service-level standards.
Participate in audits, quality assurance reviews, and compliance examinations as required.
Collaborate with cross-functional teams to improve processes and member experience.
Stay informed about industry trends, regulatory changes, and best practices in mortgage and home equity lending.