What are the responsibilities and job description for the Retail Lending Underwriter position at Westfield Bank?
Retail Lending Underwriter Westfield, MA \$67,936.83 - \$101,905.25
Annually Position: Retail Lending Systems Administrator Department:
Retail Loan Job Status: Full Time FLSA Status: Exempt Grade: 11 Reports
to: AVP, Retail Lending Operations Production Manager Amount of Travel
Required: Some Travel Positions Supervised: None POSITION SUMMARY
Performs a range of duties related to the underwriting of residential
mortgages, home equity lines and loans and consumer loans. Assesses loan
attributes and documentation for soundness and accuracy. Renders
underwriting decisions in accordance with Federal and State regulations
and secondary market guidelines as well as bank policies and procedures.
This position requires S.A.F.E. Act registration at the time of
employment through the Nationwide Mortgage Licensing system (NMLS).
ESSENTIAL FUNCTIONS Preforms a thorough underwriting review of all new
files, including; self-employment and rental worksheets, complete list
Of Required Conditions And Underwriting Recommendation Summary.
Underwrites mortgage, construction and consumer loan files by thoroughly
reviewing and analyzing the employment profile, credit strength,
property characteristics and all other information pertinent to make a
credit decision within limit of lending authority. Determines and
verifies borrower?s Ability to Repay (ATR) and if the file meets
Qualified Mortgage (QM) requirements. Communicates directly with
Processors, Closers and Loan Officers regarding decision results,
condition requirements and any pertinent aspects of the loan file.
Prepares and issues all necessary approval and denial documents required
to ensure compliance with regulatory guidelines and bank policy.
Prepares and issues all Notice of Incomplete Application (NOI) notices
and Change of Circumstance (revised Loan Estimates) within the required
timeframe. Utilizes Mortgage and Consumer Loan Origination systems,
including Automated Underwriting Systems (AUS) to underwrite files in a
timely manner. Maintains a strong knowledge of and is compliant with the
bank?s Retail lending policies, procedures and guidelines. Maintains a
strong knowledge of and is compliant with secondary market guidelines,
government and state funded guidelines as well as mortgage insurance
guidelines. Maintains underwriting authority to approved lending limit.
Must complete BSA, AML, and other Regulatory and Continuing Education as
assigned. Must adhere to all bank and regulatory policies and procedures
specific to position. Performs additional duties as requested. POSITION
QUALIFICATIONS Competencies Attention To Detail Decision Making/Judgment
Productivity Quality Time Management Education/Experience/Skills
Bachelor\'s degree or comparable work experience required. Three (3) or
more years of experience underwriting residential and consumer loans.
Experience with tax return analysis for self-employed borrowers as well
as corporations and partnerships. Effective oral and written
communication skills. Demonstrated knowledge of Automated Underwriting
Systems (ie; DU & LP). High degree of attention to detail and the
ability to work under pressure of multiple projects and deadlines.
Ability to interpret and apply required policies and procedures with
minimal supervision. Knowledge of LOS Encompass system. FHA Direct
Endorsed Underwriter designation a plus.
Annually Position: Retail Lending Systems Administrator Department:
Retail Loan Job Status: Full Time FLSA Status: Exempt Grade: 11 Reports
to: AVP, Retail Lending Operations Production Manager Amount of Travel
Required: Some Travel Positions Supervised: None POSITION SUMMARY
Performs a range of duties related to the underwriting of residential
mortgages, home equity lines and loans and consumer loans. Assesses loan
attributes and documentation for soundness and accuracy. Renders
underwriting decisions in accordance with Federal and State regulations
and secondary market guidelines as well as bank policies and procedures.
This position requires S.A.F.E. Act registration at the time of
employment through the Nationwide Mortgage Licensing system (NMLS).
ESSENTIAL FUNCTIONS Preforms a thorough underwriting review of all new
files, including; self-employment and rental worksheets, complete list
Of Required Conditions And Underwriting Recommendation Summary.
Underwrites mortgage, construction and consumer loan files by thoroughly
reviewing and analyzing the employment profile, credit strength,
property characteristics and all other information pertinent to make a
credit decision within limit of lending authority. Determines and
verifies borrower?s Ability to Repay (ATR) and if the file meets
Qualified Mortgage (QM) requirements. Communicates directly with
Processors, Closers and Loan Officers regarding decision results,
condition requirements and any pertinent aspects of the loan file.
Prepares and issues all necessary approval and denial documents required
to ensure compliance with regulatory guidelines and bank policy.
Prepares and issues all Notice of Incomplete Application (NOI) notices
and Change of Circumstance (revised Loan Estimates) within the required
timeframe. Utilizes Mortgage and Consumer Loan Origination systems,
including Automated Underwriting Systems (AUS) to underwrite files in a
timely manner. Maintains a strong knowledge of and is compliant with the
bank?s Retail lending policies, procedures and guidelines. Maintains a
strong knowledge of and is compliant with secondary market guidelines,
government and state funded guidelines as well as mortgage insurance
guidelines. Maintains underwriting authority to approved lending limit.
Must complete BSA, AML, and other Regulatory and Continuing Education as
assigned. Must adhere to all bank and regulatory policies and procedures
specific to position. Performs additional duties as requested. POSITION
QUALIFICATIONS Competencies Attention To Detail Decision Making/Judgment
Productivity Quality Time Management Education/Experience/Skills
Bachelor\'s degree or comparable work experience required. Three (3) or
more years of experience underwriting residential and consumer loans.
Experience with tax return analysis for self-employed borrowers as well
as corporations and partnerships. Effective oral and written
communication skills. Demonstrated knowledge of Automated Underwriting
Systems (ie; DU & LP). High degree of attention to detail and the
ability to work under pressure of multiple projects and deadlines.
Ability to interpret and apply required policies and procedures with
minimal supervision. Knowledge of LOS Encompass system. FHA Direct
Endorsed Underwriter designation a plus.
Salary : $67,937 - $101,905