Mortgage Underwriter II (Remote with onsite requirements)

RemoteFetch; New Town (ND); Hybrid; USD 90,000 - 120,000; Full time

Job summary

Newtown Savings Bank is seeking an experienced Mortgage Underwriter II to join our Loan Origination team. The role offers remote, flexible, full-time employment options and focuses on underwriting residential mortgage and home equity files in compliance with investor guidelines.

Candidates must live within commuting distance to Newtown, CT, and be able to visit the office for training. The position emphasizes quality of production, timely approvals, and adherence to regulations while delivering

Qualifications

• Minimum five years underwriting mortgages experience.
• Understanding of mortgage underwriting guidelines and secondary market.
• FHA/Direct Endorsed Underwriter preferred.
• Knowledge of Government Loans (CHFA, VA).
• Strong attention to detail and communication skills.
• Proficient with loan origination and underwriting software.

Responsibilities

• Underwrite daily loan list, meeting investor expiration dates and guidelines.
• Calculate debt-to-income, document assets, review appraisals, verify guidelines.
• Export data to automated underwriting systems and ensure data integrity.
• Review automated findings, verify approvals and conditions.
• Clear conditions in the Loan Operating System and communicate final approval to the processor.
• Request mortgage insurance approvals as needed.
• Decide loans or submit recommendations for management approval (Borrower exposure > $500,000).
• Adhere to state and federal real estate lending laws.
• Present recommendations for loans that are ineligible or do not meet guidelines.
• Prepare counter offers and adverse actions on mortgage and home equity files.
• Underwrite simultaneous home equity products if applicable.
• Perform other duties and promote the Bank's services.

Skills

Mortgage underwriting

Regulatory knowledge

Analytical skills

Time management

Customer service

Tools

Encompass

LP/DU/DO

Job description

Location: Newtown, CT

Newtown Savings Bank is seeking an experienced, motivated Underwriter to join our Loan Origination team as a Mortgage Underwriter II. The Underwriter II position offers remote, flexible, full-time employment options. This position is responsible for the completion of files for underwriting, adhering to all investor and portfolio guidelines, and the generation of approvals on residential mortgage and home equity products.

*This position is REMOTE after onboarding is complete, however candidates must live within commuting distance to Newtown, CT, and will be required to visit the office for training, meetings, etc.

PRIMARY RESPONSIBILITIES

• Underwriters are required to complete underwriting of a daily list of loans generated by the Mortgage Underwriting Manager, meeting investor expiration dates and adhering to all compliance and investor regulations. An emphasis on quality of production is placed on all files while meeting management's expectations of volume. The underwriter should always approve loans, placing an emphasis on the bank's interest, while also balancing the needs and expectations of our customer, as we are a local community bank.
• The underwriter's duties include calculating debt to income ratios based on the client's credit and income analysis, documenting sufficient assets for closing, review of the appraisal and verify all secondary market guidelines are met.
• Export data from the origination system into FNMA's Desktop Underwriter, Freddie's Loan Prospector or other Investor's automated underwriting system; if applicable. Ensure all data integrity on the 1003/1008 and automated system is accurate.
• Review the automated findings report and verify all approval conditions and/or products guidelines of the investor are satisfied.
• Review underwriting conditions and clear in the Loan Operating System. Communicate the final approval to the processor in a timely manner.
• Request additional approvals for mortgage insurance loans.
• Decision loans within the appropriate approval level, or review completed loans and make decision recommendations for management approval(s). (Borrower's total exposure over $500,000.)
• Adhere to state and federal laws governing real estate lending transactions.
• Present recommendations and solutions to management on all loan files that are Ineligible/or do not meet Secondary Market guidelines.
• Prepare counter offers and adverse actions on all mortgage and home equity files as needed.
• Underwrite simultaneous home equity product, if applicable.
• Perform other duties as necessary.
• Promotes the Bank and Bank's services. Provides prompt and courteous service to all external and internal customers.

POSITION REQUIREMENTS

• Minimum five years underwriting mortgages experience.
• Understanding of mortgage underwriting guidelines, Secondary Market, and mortgage underwriting analysis.
• FHA/Direct Endorsed Underwriter is preferred.
• Encompass experience a plus.
• Knowledge of Government Loans (CHFA, VA).
• Must be proficient with LP, DU/DO.
• Detail Oriented.
• Effective written and verbal communication skills.
• Strong analytical skills along with a strong attention to detail.
• Demonstrates a commitment to quality customer service.
• Well organized with the ability to multi-task.
• Demonstrates strong time management skills with the ability to meet deadlines.
• Ability to adapt to change within working responsibilities, be it internal, market or regulatory driven.

QUALIFICATIONS

To perform this job successfully, the individual must be able to perform each essential duty satisfactorily. The requirements listed above 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.

Any physical demand or work conditions described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions.

Full time employees also receive a complete benefit package including a generous 401(k), medical benefits, paid time off, and short- and long-term disability programs.

Newtown Savings Bank is an equal opportunity employer and complies with affirmative action programs for qualified veterans and individuals with disabilities. Newtown Savings Bank shall not discriminate against any employee or applicant for employment based on race, color, religion, gender, age, marital status, national origin/ancestry, sexual orientation, gender identity, disability status, protected veteran status, or any other legally protected status.