RESIDENTIAL LOAN UNDERWRITER

Winchester Savings Bank•Winchester, MA

4d•$70,000 - $95,000

About The Position

The Residential Loan Underwriter evaluates and underwrites residential mortgage loan applications to assess borrower creditworthiness, loan eligibility, and compliance with lending guidelines. The role analyzes borrower financial information, credit reports, income and asset documentation, property information, and other relevant records to make sound, consistent, and well-documented credit decisions. The Underwriter ensures that loans meet applicable investor, agency, regulatory, and company requirements while supporting prudent risk management and efficient loan processing. The position requires analytical skills, attention to detail, independent judgment, and effective communication to facilitate timely, accurate, and compliant lending decisions. This job operates in a professional office environment and routinely uses standard office equipment. Duties may be expanded or modified by management. Employment is at will, and the employee is expected to follow Bank policies and procedures and comply with state and federal regulations, including BSA/AML and information security regulations.

Requirements

Strong understanding of mortgage lending principles, credit analysis, and underwriting practices.
Working knowledge of applicable agency, investor, regulatory, and company underwriting guidelines.
Experience with automated underwriting systems, including Desktop Underwriter (DU) and/or Loan Product Advisor (LPA), mortgage loan origination systems, and Microsoft Office applications.
Strong analytical, critical-thinking, problem-solving, and credit decision-making skills, with sound judgment in assessing loan eligibility and credit risk.
Excellent attention to detail, organizational skills, and documentation practices.
Ability to manage multiple loan files, prioritize competing demands, and meet established productivity, turnaround time, and service-level requirements.
Effective written and verbal communication skills and ability to collaborate across departments while maintaining confidentiality and safeguarding sensitive borrower information.

Nice To Haves

Two or more years of residential mortgage underwriting experience is preferred.

Responsibilities

Review and underwrite residential mortgage loan applications, including purchase, refinance, conventional, non-conforming, home equity lines of credit, home equity loans, and other applicable loan products.
Analyze borrower credit history, income, employment, assets, liabilities, debt-to-income ratios, loan-to-value ratios, and overall financial capacity; review and validate supporting documentation.
Evaluate property and collateral documentation, including appraisals, title reports, purchase contracts, and other relevant property information.
Assess loan eligibility and risk, exercise independent credit judgment within established lending authority, and issue approvals, conditional approvals, suspensions, or denials in accordance with underwriting guidelines and credit policies.
Document underwriting decisions, supporting rationale, and outstanding conditions in the loan origination system, ensuring loan files comply with applicable requirements.
Identify potential fraud, misrepresentation, undisclosed liabilities, income discrepancies, collateral concerns, and other credit or eligibility risks; escalate complex or unusual issues to management or the appropriate department.
Communicate underwriting decisions, documentation requirements, and outstanding conditions with loan officers, processors, closing teams, borrowers, and other stakeholders, as appropriate.
Maintain established underwriting turn times, productivity, and service standards while ensuring accuracy, consistency, and quality.
Stay current with mortgage lending regulations, investor requirements, agency guidelines, underwriting standards, and company policies; participate in quality control reviews, audits, and process improvement initiatives.
Maintain the confidentiality and security of borrower financial, personal, and other sensitive information.
Adhere to Bank policies and procedures and comply with applicable state and federal regulations, including BSA/AML and information security requirements.