Residential Underwriter

Residential Underwriter

Walpole Co-operative Bank 

Walpole, MA
 

Walpole Co-operative Bank is seeking a Residential Underwriter primarily responsible for underwriting all residential and Home Equity Line of Credit (HELOC) mortgage applications. The Residential Underwriter will process and close functions to ensure  all applications are processed in compliance with established Bank policies and procedures, federal and state laws, and all fair lending regulations. 

Residential Underwriter Qualifications and Skills 

• Five  year’s previous residential loan underwriting experience
• Knowledge of all federal and state regulations regarding lending and related departments
• Experience with Mortgagebot, DocMagic and FreddieMac selling systems, preferred
• Excellent interpersonal, oral and written communication; strong alphabetizing and collating skills
• High degree of accuracy and detail-orientation; strong proofreading skills
• Ability to work independently or collaboratively within a team
• Ability to accurately process computer transactions and navigate multiple computer systems
• Excellent customer orientation skills, consistently maintaining a positive attitude in interactions with both customers and team members
• Must be patient and willing to help others in solving problems while maintaining a positive attitude
• Must be proficient with Microsoft Office Suite
• NMLS licensed or register to obtain license, and maintain and renew on an annual basis 

Why You Should Apply 

• Competitive salary with weekly pay
• 80% employer paid premiums for health, dental and vision insurance with FSA and HRA programs (50% of annual deductible covered on HRA)
• 401(k) and 2:1 match, fully paid pension plan, generous paid time off, 100% tuition reimbursement up to 7K per year, 100% paid life insurance, and more!

Residential Underwriter Job Responsibilities 

• Respond to loan applicant inquiries and manage pipeline tasks
• Communicate courteously with customers, attorneys and lending staff; provide loan status updates, request information, resolve issues, and ensure customer satisfaction
• Review and/or create new loans within the Mortgagebot Loan Origination System (LOS) with accuracy
• Analyze customer application documentation; compare and update LOS with changes
• Analyze applicant financial status, credit, and property evaluation to determine feasibility of granting loan
• Verify customer loan information including third party verification; distribute verifications for employment, credit or assets, as applicable
• Communicate missing loan documentation via written correspondence to consumer; create applicable Reg. B disclosures
• Verify compliance with Qualified Mortgage/Ability to Repay regulations, Freddie Mac and Private Mortgage Insurance (PMI) guidelines; run automated underwriting
• Provide approval and denial recommendations to Residential Mortgage/Community Reinvestment Act Officer or Chief Lending Officer
• Create and review commitment or denial letters with all applicable disclosures
• Perform related underwriting and administrative duties including preparation of closing documents and re-disclosures
• Update loan origination and secondary market systems; submit appraisals for Freddie Mac loans to Uniform Collateral Data Portal (UCDP) for approval
• Retain updated knowledge of loan products and state and federal regulations
• Work with Residential Mortgage/Community Reinvestment Act Officer to maintain online application system
• Conduct loan audits prior to closing and review Home Mortgage Disclosure Act (HMDA) data for accuracy
• Prepare records and reports as requested regarding loan file activity

About Walpole Co-operative Bank (www.walpolecoop.com)

Walpole Co-operative Bank is a community bank dedicated to meeting the needs of the communities we have served for the last century. Our office is located in the heart of Walpole and our focus has always been helping local people, businesses and non-profit organizations reach their goals. Our perspective is unique because it is local and hyper-focused on the specific needs of our wonderful community. We are a high performing, financially sound, independent community bank. Our commitment is to provide quality banking solutions that support the economic vitality of the individuals and businesses within the markets we serve. This commitment strengthens local communities, creating a positive impact on people’s lives. 

Walpole Co-operative Bank is an equal opportunity employer, dedicated to building an inclusive and diverse workforce. 

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