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- 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
Underwriter - Home Equity - Chelmsford, United States - USALLIANCE Financial
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Job Description
Job DescriptionLocation:Please note this is a hybrid role, minimum 3 days in the office – Chelmsford, MA
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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.