Senior Mortgage Underwriter

First Central Saving Bank•Glen Cove, NY

1d•$50,000 - $50,000

About The Position

The Senior Contract Underwriter provides experienced credit analysis and independent risk assessment for residential mortgage loan requests. The position evaluates loan documentation, collateral, borrower capacity, and policy compliance; documents credit recommendations and decisions within delegated authority; and serves as a senior resource to lending and underwriting personnel. The role supports consistent application of the Bank’s residential mortgage credit policy and investor underwriting requirements.

Requirements

Minimum of 25 years of residential mortgage banking and/or mortgage loan origination experience.
Extensive experience evaluating residential mortgage transactions, assessing credit and collateral risk, and interpreting underwriting guidelines.
Strong working knowledge of borrower income and asset analysis, self-employed and business financial documentation, credit reports, appraisals, title commitments, and related loan documents.
Knowledge of applicable mortgage lending and consumer compliance requirements, including RESPA, Regulation Z, Regulation B/ECOA, TRID, and fair lending obligations.
Excellent written credit analysis, professional judgment, communication, problem-solving, and organizational skills; ability to prioritize deadlines and work independently.
Proficiency with Encompass or a comparable loan origination system and standard mortgage documentation workflows.

Responsibilities

Perform comprehensive reviews of residential mortgage files, including credit reports, income and employment verification, assets, liabilities, purchase contracts, appraisals, title matters, and other relevant documentation.
Assess borrower creditworthiness, repayment capacity, loan structure, collateral adequacy, and key risk factors; calculate qualifying ratios and review exceptions or compensating factors as applicable.
Recommend loan approvals, denials, or additional conditions in accordance with the Bank’s credit policy, underwriting standards, and established approval authority.
Prepare clear, well-supported credit analyses and decision rationales; identify file deficiencies, inconsistencies, material risks, and required conditions.
Review appraisals and property-related information for completeness, reasonableness, eligibility, and potential collateral concerns.
Communicate promptly with loan originators, processors, management, and related departments to resolve underwriting issues and maintain appropriate file turn times.
Provide senior-level guidance to underwriting and lending staff on complex transactions, credit-risk interpretation, documentation requirements, and best practices.
Identify opportunities for minor clarifications or procedural refinements to residential mortgage credit policy; submit proposed changes through established management, risk, compliance, and approval channels.
Support internal reviews, examinations, and audits by maintaining accurate credit files, decision records, exception documentation, and complete system notes in Encompass.
Perform other credit underwriting and residential lending duties as assigned by management.