Underwriter

Rhode Island Housing•Providence, RI

7d•$75,222 - $105,310•Hybrid

About The Position

RIHousing is seeking a dynamic professional to serve as an Underwriter in their Homeownership Department. This position is responsible for ensuring that all loans originated through the Homeownership Division comply with federal and state regulations, IRS requirements, RIHousing program standards, and investor guidelines by conducting thorough reviews of qualifying income, appraisals, credit reports, and loan application documentation. This is a hybrid position based in Providence, Rhode Island, where you will be an integral part of the Homeownership team. The role is designed for face-to-face collaboration and direct involvement in the office environment.

Requirements

Minimum five years of experience in underwriting residential mortgage loans
Working knowledge of FHLMC, FNMA, FHA, RD, and VA
Excellent verbal and written communication skills
Strong analytical, computer, problem-solving, and organizational skills
Bachelor’s degree in business administration, real estate, or related field

Nice To Haves

FHA direct endorsement designation

Responsibilities

Performs the underwriting function for the Residential Lending Department to ensure all loan decisions comply with IRS rules, federal and state regulations, program requirements, and FHA, VA, RD, FHLMC, and FNMA guidelines.
Conducts detailed analysis to determine borrower creditworthiness, employment and income stability, and ability to repay.
Reviews verified financial information to assess income, assets, liabilities, and net worth relative to proposed mortgage payments.
Evaluates property appraisals to confirm that collateral provides sufficient security.
Confirms borrower eligibility for RIHousing program requirements (e.g., income limits, minimum down payment).
Makes final decisions to approve, deny, or suspend loan applications.
Reviews community lending loans to ensure compliance with program requirements prior to closing.
Verifies accuracy of loan data entered into the loan origination system and generates required documentation based on application status.
Maintains and reviews the loan pipeline report to ensure targeted timeframes and service standards are met.
Works closely with sales staff, Loan Center staff, lenders, real estate agents, realtors, and appraisers regarding program requirements and underwriting criteria.
Strengthens loan quality by applying sound judgment in evaluating collateral, credit, income, and employment to ensure loan decisions meet IRS rules, federal/state regulations, program requirements, and FHA, VA, RD, FHLMC, and FNMA guidelines.
Ensures responsible lending by making well-supported decisions to approve, reject, or suspend loan applications.
Supports successful loan origination by partnering with the sales team to review loan scenarios, resolve challenges, and guide files toward approval when possible.
Expands access to specialized programs by underwriting ancillary loan products such as Clean Water and other mission-driven initiatives.
Educates homebuyers by serving as a facilitator for RIHousing’s homebuyer education classes, helping borrowers prepare for sustainable homeownership.
Builds internal expertise by providing periodic training to sales staff, loan processors, and lenders on underwriting standards and program requirements.
Advances organizational initiatives by contributing to special projects and research efforts as assigned.