At Dedham Savings, we believe that being here for the journey means supporting our customers every day in a friendly and professional manner every day. While our employees are committed to helping our customers, we are committed to our employees. After all, we wouldn’t have made it 192 years without them! To support our employees, we offer a competitive benefit package with Medical, Dental, Vision, Flexible Spending, Tuition Reimbursement, Retirement, Life Insurance, and many other benefits.

PURPOSE

Primarily responsible for underwriting residential mortgages, HELOCs, and construction-to-permanent loans under bank policies, secondary market guidelines, and consumer lending regulations. May provide training and assistance to underwriters and loan production assistants.

ESSENTIAL DUTIES AND RESPONSIBILITIES

• Underwrite large or more difficult/complex residential mortgage loans ensuring compliance with appropriate Bank and secondary market investor standards on time. 
• Analyze appraisal reports, verifications of employment, income tax returns, other income, deposit, and credit reports, etc. to determine loan eligibility, identify risk issues, and potential fraud.
• Prepare loan files for review by senior management and Executive Committee; prepare and recommend jumbo residential mortgage loans for approval; rework loan to new terms or identify additional conditions as needed.
• Ensure the issuance of the required commitment or denial letter. Prepare a Notice of Action for declined, withdrawn, or incomplete loans. Examines loan documentation for accuracy and completeness.
• Make recommendations for loan approvals and prepare commitment letters; monitor the status of commitment letters mailed to ensure they are returned to the Bank within the allotted timeframe.
• Interact frequently with Mortgage Originators, other Bank personnel, attorneys, and others in person, by telephone, or in writing; acts as a liaison with correspondents; support Mortgage Originators in daily functions.
• Analyze automated underwriting findings to ensure proper documentation; verify income and asset verification supplied by applicant(s)
• Review appraisal report (and condominium documents, if applicable) for completeness and accuracy; analyze report to substantiate the appraiser’s opinion of value and compliance to underwriting standards
• Responsible for knowledge of secondary market requirements and Bank policy and procedures; serve as a resource person for Mortgage Originators and other Department personnel.
• Monitor all information requested to ensure a timely receipt based on State and Federal regulations; send appropriate review and Substantial Complete letter(s) if necessary.
• Maintain files on all withdrawn/declined applications; prepare Adverse Action Notice, and refund fees paid, when applicable
• Monitor loan pipelines to ensure timely closings and delivery to investors.
• Assist in training and mentoring junior underwriters and/or loan production assistants.
• Adhere to the Bank’s privacy and data security policies including but not limited to safeguarding of sensitive information and complying with relevant regulations to protect non-public information.

QUALIFICATIONS

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

• At least five years’ experience as a residential mortgage underwriter
• Excellent working knowledge of secondary market underwriting guidelines, and all state and federal consumer lending regulations
• At least one year of experience using the “Encompass” loan origination system
• High school diploma or general education degree (GED); or one to three years of banking experience and/or training; or equivalent combination of education and experience.
• Analytical skills
• Detail-oriented.
• Highly organized
• Multi-tasking and prioritization skills are necessary.
• Ability to work in a fast-paced environment under time constraints.
• Ability to organize and coordinate projects.
• Excellent customer service skills
• Ability to adapt to change quickly.
• Knowledge of Microsoft Office
• Strong interpersonal skills and must be a team player.
• Excellent communication skills both written and verbal.

Physical Demands

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

While performing the duties of this Job, the employee is regularly required to sit. The employee is occasionally required to stand, walk; use hands to finger, handle, or feel; reach with hands and arms and talk or hear. The employee must occasionally lift and/or move up to 10 pounds. Specific vision abilities required by this job include close vision, distance vision, and the ability to adjust focus.

Work Environment

The work environment characteristics described here are representative of those employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

The noise level in the work environment is usually moderate.

Dedham Savings is committed to providing equal opportunity for all employees and applicants without regard to race, color, religion, gender, sexual orientation, age, marital status, national origin, physical or mental disability, veteran or disability status, gender identity, or expression, citizenship, genetic information, ancestral origin, military status, pregnancy, childbirth, and or conditions relating to pregnancy or any other related medical conditions or any other status protected by Federal, State or local laws.

EOE/F/M/Vet/Disabled