- Analyze information to determine risk involved in lending money for home equity lines of credit (HELOC) and loans; responsible for analyzing/verifying income, assets, credit and all supporting documentation to ensure sufficient to loan standards and guidelines; includes verifying all documentation is correct, complete and in the loan file; that the information has been correctly calculated.
- Provide direction and guidance to internal and external stakeholders for documentation and processing quality; ensure file conforms to guidelines.
- Review appraisal and automated valuation models to ensure value of collateral is sufficiently documented and appraiser has correctly completed forms.
- Ability to calculate income as allowed by FNMA guidelines.
- Making decision to either deny loan or, depending on the loan's attributes, approve loan or make recommendation to approve loan.
- Review underwriting decision, reasoning (logic), and conditions or counteroffer with appropriate parties.
- Keep current on regulations and guidelines including being adaptable to Credit Union policy and procedure changes to meet changes in regulations and assess credit risk.
- Assume additional duties as they arise, cross-train within the department, and be responsive to the department.
- 3 years residential real estate experience with a minimum of 1 year underwriting experience. Recommended experience with home equities and renovation loan underwriting.
- Thorough knowledge of reviewing residential appraisals and automated valuation models.
- In-depth knowledge of home equity related requirements, procedures, & underwriting criteria.
- Excellent verbal and written communication skills.
- Strong interpersonal and organizational skills, with the ability to effectively manage and process loan pipeline within given workflows.
- PC Skills, including loan origination software, Outlook and Microsoft Office. Recommended experience with Encompass.
- Thorough knowledge of FNMA underwriting guidelines.
- Ability to prioritize and meet deadlines.
- Requires successful registration with, and issuance of a unique identification number from, the Nationwide Mortgage Licensing System (NMLS) in compliance with the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (S.A.F.E. Act).
- Enjoy health, dental and vision insurance on day one of employment (full time staff)
- 401K - 100% match up to 6%
- Federal Holidays
- Work-Life Balance
- Career Planning
- Bonus Eligible
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Underwriter - Home Equity - Chelmsford, United States - USALLIANCE Financial
Description
Job Description
Job DescriptionLocation:Please note this is a hybrid role, minimum 3 days in the office – Chelmsford, MA
Responsibilities:
Who you are:
Benefits:
This job description is for informational purposes only and should not be construed as a complete listing of the job responsibilities and requirements. This job description may be modified at any time, for any reason, at the sole discretion of management.
In the spirit of pay transparency, we are excited to share the base salary range for this position is $65,000 - $72,000 annually, exclusive of fringe benefits or potential incentives. This position is also eligible for an annual corporate bonus. If you are hired at USALLIANCE Federal Credit Union, your final base salary compensation will be determined based on factors such as skills, education, and/or experience. In addition to those factors, we believe in the importance of pay equity and consider the internal equity of our current team members as a part is any final offer. Please keep in mind that the range mentioned above is the full base salary for the role. Hiring at the maximum of the range would not be typical to allow for future and continued salary growth. We also offer a generous compensation and benefits package.
All positions must adhere to standard BSA/AML policies, procedures, and processes. Employees must demonstrate awareness of business functions and how business decisions affect financial and/or non-financial work results.
