Loan Processor/ Underwriter

Loan Processor/ Underwriter Winter Hill Bank - 2.8 Somerville, MA Job Details Full-time $38.18 - $52.56 an hour 20 hours ago Benefits Health savings account Health insurance Dental insurance 401(k) Flexible spending account Tuition reimbursement Paid time off Parental leave Vision insurance Life insurance Retirement plan Qualifications Computer operation Document review (document control) Compliance with loan regulations Homeowners insurance knowledge Customer service Regulatory compliance Mid-level Mortgage closing Administrative experience High school diploma or GED Loan application intake Analysis skills Attention to detail Real estate closing management Coordination (loan closing) Quality control operations Computer skills Clerical experience Loan application review Banking product expertise 2 years Administrative experience (3-5 years) Communication skills Full Job Description Loan Processor/ Underwriter 337 Broadway, Somerville, MA 02145

Position Summary:

This position processes and underwrites 1-4 family real estate secured and consumer loans in conformance with regulatory requirements, and Bank, Secondary Market Investor & vendor guidelines, policies and procedures.

Salary Range:

This position offers a salary range of $38.18 - $52.56 per hour. This is a good faith estimate at the time of posting. Final compensation will be based on the candidate's qualifications, experience, education, alignment with the roles responsibilities, and that the range is not an offer or guarantee. In accordance with Massachusetts Pay Transparency Law, we are committed to fair, equitable and transparent compensation practices. The Primary Responsibilities of this position include but are not limited to the following duties.

Primary Responsibilities:

Receives submitted loan applications from all origination conduits. Ensures application package is complete and accurate, including all initial disclosures. Is expected to independently process & underwrite the most complex of 1-4 family residential loan applications. Inputs loan application or reviews previously submitted loan application data in Bank's Loan Origination software system (LOS) and vendor software, within designated time frame, to ensure accuracy & initiate application processing. Audits loan file documentation to confirm appropriate & accurate receipt and completion of any/all application documentation including appropriate signatures, dates and other relevant data. When/as appropriate, prepares required initial or amended disclosures within required time frame. Orders updated credit reports for Loan Quality Cross Check ("LQCC") as necessary. Tracks and ensures receipt of required documents. Reviews all documentation, when/as received, to ensure accuracy and completeness, & updates loan data in LOS & vendor software systems. Communicates loan statuses and related documentation deficiencies to applicants, loan interviewer/originator, and other Bank staff as applicable. Works with applicants to complete pre-closing process in order to assure a timely closing. Obtains mortgage insurance certificates (delegated M.I.) or submits loan file data to private mortgage insurance company for underwriting consideration, when applicable. Submits and coordinates pre-funding quality control if/as necessary. Reviews and evaluates loan file information/documentation for both compliance & underwriting decision to either approve (within delegated loan authority) or to recommend approval, denial or counteroffer. Ensures that the loan file is complete, accurate and in accordance with Bank and/or investor requirements. Prepares & forwards loan commitments, denials and counteroffers, and all other written correspondence, including appraisal reports, to applicant. Forwards appropriate commitment/counteroffer correspondence to applicants, loan interviewer & (if not declined) closing attorney. Tracks commitment to ensure that all pre-closing commitment conditions are satisfactorily met. Within designated loan authority, signs off on said pre-closing conditions. If outside delegated loan authority, provides approving officer with exhibits for sign off. Serves as liaison with attorney relative to loan closing with respect to scheduling and final pre-closing exhibits. Maintains current knowledge of regulatory, Bank, vendor, & Investor loan processing/underwriting guidelines, policies and procedures, and any/all compliance related considerations. Resolves any post-closing quality control issues.

Other Responsibilities Include:

Performs related clerical and administrative duties as may be assigned or requested. Assists VP/Lending with investor loan/lock registrations & wholesale lending functions, & researches any/all QC deficiencies.

Education & Experience:

¨ High school diploma ¨ Two to three years experience in loan underwriting required ¨ Good understanding of the Bank's loan products and services ¨ Must be very detail oriented and demonstrate organizational, analytical and customer service skills ¨ Must have excellent verbal & written communication skills ¨ Ability to utilize various types of office equipment, including computer terminals.

Physical/Work Conditions:

In the performance of respective tasks and duties, the employee is expected to successfully perform the essential functions of the position. Reasonable employee accommodations for physical or mental disabilities will be considered on a case-by-case basis. While performing duties the employee is required to sit, bend, walk, talk, hear, pull, push, lift up to 20 lbs., and may be required to work evenings and/or weekends, attend remote meetings and/or to travel.

Company Conformance:

In the performance of respective tasks and duties, the employee is expected to successfully perform quality work within deadlines with or without supervision, interact professionally with other employees, customers and vendors (if applicable); work independently and as a team while understanding the necessity for communicating and coordinating work efforts with other employees and organizations and act in the Bank's best interests.

Bank Secrecy Act:

In the performance of respective tasks and duties, the employee is expected to maintain knowledge of and ensure compliance with Bank Secrecy Act regulations and all other regulatory, security and bank policies and procedures.

Privacy:

All personal and financial customer information will be maintained in compliance with laws and regulations designed to secure that privacy. It is expected that all bank employees will comply with the policies and procedures the bank has in place or face discipline up to and including termination of employment.

Employment:

This job description is not a contract for employment. The tasks stated are the general and ordinary duties of the position and may be subject to change at any time due to business needs, staffing issues, banking requirements, reasonable accommodation or other reasons. From time to time other duties, both related and unrelated to your job description, may be assigned and, therefore, required and nothing in this job description restricts management's right to assign or reassign duties and responsibilities to this job at any time.

Pay:

$38.18 - $52.56 per hour

Benefits:

401(k) Dental insurance Flexible spending account Health insurance Health savings account Life insurance Paid time off Parental leave Retirement plan Tuition reimbursement Vision insurance

Work Location:

In person