Mortgage Underwriter

OVERVIEW:

Perform various residential processing functions. Input new loan data and associated tasks with loan setup. Identify and request necessary documentation required to process mortgage loans. Track and ensure receipt of required documents. Underwrite mortgage loans to Bank and/or secondary market guidelines and ensure compliance with regulatory requirements. Make appropriate lending recommendations to Senior Underwriter on loans for approvals, declines, counteroffers or suspend applications as necessary, adhering to Bank and/or secondary marketing guidelines. Work closely with mortgage loan officers to ensure all required documentation is obtained, reviewed and acceptable.

ESSENTIAL FUNCTIONS:

Reasonable accommodation may be made to enable individuals with disabilities to perform these essential functions.

• New loan input and set-up, to include:

o Ordering credit reports, titles, appraisals, and flood certifications.

o Verifying deposit relationships of all borrowers.

o Scanning/saving all applicable loan documents on Encompass.

o Requesting legal quotes from law offices ensuring all appropriate characteristics of the loan are provided.

o Preparing loan estimates for Senior Underwriter’s approval.

o Adding loans with appropriate dates, on the Closing Boards and Outlook calendar for Purchases, including Blanket/Additional Collateral Mortgage Loans as well as; rush Refinance, Second Mortgage, and/or HELOC’s, if information provided by Loan Officers.

o Identify any loan characteristics outside of the Bank’s underwriting guidelines to Senior Underwriter or Vice President of Lending.

• Performing Verification of Employment.

• Analyzing supporting documentation provided by customer, saving on Encompass and updating information in Loan Origination System (LOS).

• Completing Mavent Compliance Review or Section 32 Test for HELOCs.

• Verifying compliance with Product, Investor and/or Private Mortgage Insurance Guidelines, as applicable.

• Completing Compliance Sheet, Exception, Conditions Sheet, and Notes to Closing Forms.

• Completing counteroffer, when applicable.

• Creating a “Needs Letter” and “Incomplete Notice Letter” to request missing documentation.

• Opening and reviewing mail, updating LOS, and scan/save on LOS accordingly.

• Providing answers to customers regarding requested documents in person, via phone or email.

• Managing pipeline and updating LOS to ensure timely processing.

• Completing and reviewing notes for compliance.

• Maintaining Compliance Log, telephone log, notes to file, and documenting received dates on “Needs Letter” and/or “Incomplete Notice Letters”.

• Preparing and completing all required paperwork for loan approval, counteroffer, or declines.

• Sending all Commitment Letters to borrowers, via appropriate method and scanning to Attorneys and Loan Officers.

• Reviewing all received appraisals and contacting appraiser with any questions, concerns, or corrections for erroneous information.

• Submitting all appraisals to the Security Committee and Freddie Mac loans to UCDP for approval.

• Sending all approved appraisals to customers via appropriate method.

• Preparing and completing final loan approval documents for submission to Senior Underwriter.

• Verifying all required conditions are met prior to or at closing, including the appropriate information being listed on the “Notes to Closing” form.

• Working with the Closing Department to ensure all closing related deadlines are met.

• Additional duties as assigned by management.

The preceding functions have been provided as examples of the types of work performed by employees assigned to this job classification. Management reserves the right to add, modify, change or rescind work assignments and to make reasonable accommodations as needed.

SUPERVISORY RESPONSIBILITIES:

None

WORK ENVIRONMENT:

Typical office environment. The work environment characteristics described here are representative of those an 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.

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 use hands to finger, handle, or feel; reach with hands and arms; and talk or hear. The employee is generally required to stand and walk. The employee must occasionally lift and/or move up to 25 pounds. Specific vision abilities required by this job include close vision, distance vision, color vision, peripheral vision, depth perception, and ability to adjust focus.

REQUIRED KNOWLEDGE, SKILLS AND/OR ABILITIES:

• High School diploma or equivalent

• Banking certifications and/or Associate/Bachelor’s degree a plus.

• Minimum of 1-3 years of residential lending processing or banking experience preferred.

• Accuracy and attention to detail.

• Excellent Communication, Planning, Time Management, Problem Solving, and Organization Skills.

• Ability to effectively make decisions.

• Ability to work well independently and as part of a team.

• Strong knowledge of secondary market requirements and FHLMC loans.

• LOS experience (Encompass preferred), construction lending knowledge, familiarity with COCC Insight and MHP One Mortgage are all a plus however not required.

Winchester Co-operative Bank provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state or local laws.

Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities and activities may change at any time with or without notice.