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East Cambridge Savings Bank · 1 month ago

Senior Loan Underwriter

Woburn, MA, US

Full-time

Onsite

Mid, Senior Level

$38.40/hr - $59.55/hr

3+ years exp

East Cambridge Savings Bank is actively recruiting for a Part-Time Senior Loan Underwriter. The role involves performing various clerical and administrative tasks related to the processing of Mortgage and Consumer loans, including reviewing loan files, analyzing applicants' financial status, and making underwriting decisions.

BankingFinancial Services

Responsibilities

Responsible for reviewing loan files and communicating with the Senior Loan Processor to ensure that application data is complete for underwriting purposes

Analyze applicant’s financial status, credit and property evaluations to determine terms and conditions of approving the loan

Independently interpret underwriting guidelines and keep necessary parties informed of changes and updates. Recommend approval of customer applications for residential loans or extensions of real estate loan lines

In the absence of the Mortgage Loan Originator assist the customer with questions regarding the loan application, terms of the loan and product information. Serve as liaison with customers, brokers and attorneys to resolve problems and to ensure that all documentation is accurate and complete. Respond to inquiries to provide guidance and clarification

Evaluate risk for each loan. Based on risk analysis, make an underwriting decision for each loan with limits up to secondary market guidelines. Ensure all decisions are accurately reflected in board reports

Respond to Lending Policy inquiries within scope of authority

Prepare application disposition correspondence including commitment letters, adverse action notices and corresponding appeal information; maintain status of all applications for accurate preparation of Pipeline Report; receive and transmit applicant's commitment and status updates to conveyancing attorney, originators and other employees as needed

Responsible for audits of loan files prior to and after funding is obtained. Serve as liaison with customers, brokers, correspondent lenders, investors and attorneys to resolve problems and to ensure that closing documentation is accurate and complete

Confer with Management to aid in resolving mortgage application issues

Responsible for verifying HMDA information for accuracy at loan level

Keep abreast of residential and consumer loan products. Comply fully with all federal, state and local laws and regulations, policies and procedures, including but not limited to the S.A.F.E. Act and its registration, renewal and updating requirements

Keep abreast of all loan underwriting, processing and closing tasks and assist as necessary to maintain smooth and effective workflow and update the Bank’s policies

Assist with underwriting other loan products such as Consumer Loans, HELOCS, Small Business Loans, etc. as needed

Perform all related lending tasks and special projects as may be required or assigned

Qualification

Mortgage Banking underwritingFNMA/FHLMC guidelinesRegistered MLO (S.A.F.E. Act)Analytical skillsMathematical skillsOrganizational skillsProblem solving skillsMicrosoft WordMicrosoft ExcelVerbal communicationWritten communication

Required

Knowledge of basic lending and underwriting policies and procedures, including guidelines issued by FNMA and FHLMC, as well as federal and state regulations

Minimum of 3-5 years Mortgage Banking underwriting experience required

Must have excellent organizational, analytical, mathematical and problem solving skills

Must become a registered MLO in accordance with the S.A.F.E. Act

Good verbal and written communication skills

Working knowledge of Microsoft Word and Excel