Residential Lending Underwriter

Greenfield Savings•Greenfield, MA

8d•$64,000 - $85,000

About The Position

Reporting to the Loan Processing Manager, the Underwriter will assist in the production of the Residential Lending Department in underwriting mortgages and home equity products. In this role you will be responsible for determining all underwriting criteria, interpretation, forms and processes in meeting investor, portfolio, and mortgage insurance guidelines. You will ensure the sale ability of each investor closed loan, balancing risk management responsibilities with creative judgment to maximize lending opportunities. Using Lean principles, you will be looked to identify improvements for streamlining operations to optimize efficiencies and maximize profitability. You will assist with projects that affect the department and the bank and act as a resource and back-up for other team members in the Residential Lending Department.

Requirements

Five or more years of experience in mortgage underwriting
Familiarity with both conventional and government loan programs
Proficiency in using automated underwriting systems
Strong analytical and problem-solving skills
Excellent written and verbal communication skills
Detail-oriented with strong organizational abilities
Ability to work independently and as part of a team
Up-to-date knowledge of industry regulations and standards
Previous experience in a mortgage underwriting role
In-depth understanding of mortgage loan products and services
Knowledge of federal and state lending regulations
Proficiency in financial analysis and assessment
Strong decision-making skills
Ability to interpret and validate credit reports, appraisals, and other financial documents
High level of accuracy and attention to detail
Excellent critical thinking and analytical skills
Capability to handle complex loan structures and scenarios
Effective communication skills for conveying decisions and conditions

Nice To Haves

Bachelor’s degree in finance, business, or a related field preferred
Certification from recognized underwriting authorities (e.g., DE Certification) preferred

Responsibilities

Review and analyze credit reports, income documentation, assets, appraisal reports, and other pertinent information to determine loan eligibility.
Underwrite conventional, portfolio, Mass Housing and equity lines/loans to agency/investor guidelines, internal overlays (if applicable) and regulatory standards.
Communicate courteously with customers, attorneys and lending staff; provide loan status updates, request information, resolve issues, and ensure customer satisfaction.
Verify customer loan information including third party verification; distribute verifications for employment, credit or assets, as applicable.
Ensure all loan documentation is complete and accurate.
Respond to loan applicant inquiries and manage pipeline tasks.
Verify compliance with Qualified Mortgage/Ability to Repay regulations, Investor and Private Mortgage Insurance guidelines; run automated underwriting.
Issue approval and denials within lending authority.
Create and review commitment or denial letters with all applicable disclosures.
Update loan origination and secondary market systems; submit appraisals for Freddie Mac loans to Uniform Collateral Data Portal (UCDP) for approval.
Retain updated knowledge of loan products.
Conduct loan audits prior to closing and review Home Mortgage Disclosure Act (HMDA) data for accuracy.
Apply sound credit judgment while balancing risk and borrower needs.
Ensure all underwriting decisions are compliant with lending regulations (TRID, ATR/QM, HMDA, etc.).
Work closely with processors, loan officers, and closing staff to resolve issues and facilitate efficient loan processing.
Document underwriting decisions clearly, with justification and required conditions.
Stay current on agency guidelines, investor updates, and regulatory changes.
Support internal and external audits by providing requested documentation and responses.
Share in all departmental duties as well as perform other duties as required or requested by the SVP/Sr. Residential Lending Officer.