Residential Loan Underwriter

Walpole Co; Walpole (MA); On-site; USD 45,019 - 53,629; Full time

Benefits offered by this job

80% employer-paid health, dental, and vision insurance

50% medical deductible paid by the Bank

Generous paid time off

$7,000 annually in tuition reimbursement

100% paid life insurance

Job summary

A local community bank is seeking a Residential Loan Underwriter to manage loan applications and ensure compliance with regulations. This role requires at least 5 years of underwriting experience, a deep understanding of lending laws, and excellent communication skills. The position offers a competitive pay range and a supportive work environment with benefits including comprehensive health insurance and retirement contributions. Join a team committed to community service and professional growth.

Qualifications

• 5+ years of residential loan underwriting experience.
• Strong knowledge of QM/ATR and fair lending requirements.
• Experience with various banking systems is preferred.

Responsibilities

• Underwrite residential and HELOC mortgage applications for compliance.
• Manage loan pipeline and maintain communication with stakeholders.
• Review applications for accuracy and ensure compliance with regulations.

Skills

Residential loan underwriting experience

Knowledge of federal and state lending regulations

Analytical and problem-solving skills

Communication and interpersonal skills

Proficiency in Microsoft Office

Tools

Mortgagebot

DocMagic

Freddie Mac selling systems

Job description

Residential Loan Underwriter

Location: Walpole, MA
Employment Type: Full-time | On-site

Are you an experienced mortgage underwriter with exceptional attention to detail and a strong understanding of compliance and customer service? Walpole Co-operative Bank is seeking a Residential Loan Underwriter to support our residential mortgage and Home Equity Line of Credit (HELOC) programs.

In this key role, you’ll ensure every loan application—from processing through closing is handled with accuracy, care, and in full compliance with federal and state regulations. You’ll work closely with customers, attorneys, and internal lending staff to deliver an exceptional borrower experience while upholding the Bank’s commitment to fair and responsible lending.

What You’ll Do

• Underwrite all residential and HELOC mortgage applications, ensuring compliance with Bank policies, procedures, and all applicable federal and state laws.
• Manage your loan pipeline by boarding new loans into the Mortgagebot Loan Origination System (LOS), sending incomplete letters within required timeframes, and meeting all financing and closing deadlines.
• Communicate courteously and professionally with customers, attorneys, and internal lending staff to resolve questions and maintain satisfaction.
• Review new applications for accuracy, ensure all required disclosures are provided, and verify compliance with Qualified Mortgage (QM) and Ability-to-Repay (ATR) regulations.
• Analyze borrower financials, credit reports, and collateral documentation to determine loan feasibility in accordance with Bank policy.
• Order and verify third-party documentation including employment, asset, and credit verifications.
• Run automated underwriting systems (Freddie Mac Loan Prospector) and verify Private Mortgage Insurance (PMI) eligibility as applicable.
• Prepare and review loan commitments, denials, and related disclosures to ensure accuracy and regulatory compliance.
• Perform loan audits and assist in preparing closing documents for residential and HELOC loans.
• Maintain accurate data in LOS and secondary market systems, including appraisal submissions to the Uniform Collateral Data Portal (UCDP).
• Stay current on regulatory and investor guideline changes to ensure adherence to compliance and fair lending standards.
• Collaborate with the Residential Mortgage/CRA Officer on system updates, pricing changes, and process improvements.
• Review Home Mortgage Disclosure Act (HMDA) data for accuracy prior to closing.

What You Bring

• 5+ years of residential loan underwriting experience
• Strong working knowledge of federal and state lending regulations, including QM/ATR and fair lending requirements
• Experience with Mortgagebot, DocMagic, and Freddie Mac selling systems preferred
• Excellent analytical and problem-solving skills with high attention to detail
• Outstanding communication and interpersonal skills with a customer-first approach
• Ability to manage multiple priorities, maintain accuracy, and meet deadlines
• Proficiency in Microsoft Office (Word, Excel, Outlook) and comfort navigating multiple banking systems
• Commitment to continuous learning, compliance training, and process improvement
• A collaborative, team-oriented mindset with a professional and positive attitude

What Sets Walpole Co-operative Bank Apart

We offer a supportive, team-oriented culture where your contributions matter—and we back that up with benefits like:

• Weekly pay
• 80% employer-paid health, dental, and vision insurance, plus FSA and HRA programs
• 50% of your medical deductible paid by the Bank
• Exceptional retirement benefits – for every $1 you contribute to your 401(k), the Bank contributes $2 (up to plan limits) and provides a fully paid pension plan
• Generous paid time off
• Up to $7,000 annually in tuition reimbursement
• 100% paid life insurance and additional voluntary benefits

Compensation & Benefits

This position offers a competitive hourly pay range of $32.68 - $38.93, based on experience, qualifications, and market data. Individual placement within the range reflects each person’s skills, experience, and expected contributions. We strive for fairness and consistency in all compensation decisions, with opportunities for pay growth over time through strong performance, expanded responsibilities, and continued professional development.

About Us

Walpole Co-operative Bank is proud to serve our local community with care and integrity. We are a high-performing, financially sound institution where employees are valued and supported. Learn more about us at www.walpolecoop.com.

Ready to Apply?

If you’re looking for a meaningful role in a friendly, professional environment, we encourage you to apply!

Walpole Co-operative Bank is an Equal Opportunity Employer.