Senior Mortgage Underwriter II – Jumbo & Self-Employed

Coastal1 Credit Union; Pawtucket (RI); On-site; USD 70,000 - 90,000; Full time

Benefits offered by this job

Medical, dental and vision coverage

On-site fitness center

401(k) with company match

Employee homebuyer assistance

Job summary

Coastal1 Credit Union in Pawtucket is hiring an experienced Mortgage Underwriter II in our Real Estate Lending Department to underwrite residential mortgage loans including Jumbo and Complex Self-Employed loans. Under the VP Real Estate Lending, you will review applications, verify documentation, ensure compliance, and communicate decisions to Loan Officers and processors.

This on-site role requires NMLS registration, strong math and communication skills, and the ability to manage multiple

Qualifications

• Minimum of a high school diploma or equivalent required; associate degree preferred.
• At least 2 years of lending experience; mortgage lending experience preferred.
• Must register by the Nationwide Mortgage Licensing System (NMLS).
• Proficient with Microsoft Office and banking software.
• Excellent written and verbal communication; strong math skills.
• Ability to manage multiple priorities and meet deadlines.
• Ability to handle confidential information securely.
• Collaborative across Coastal1 teams.

Responsibilities

• Review residential mortgage applications to determine if borrower, property and loan conditions meet investor, FNMA and/or FHLMC underwriting guidelines.
• Review all documentation submitted in a file for compliance with product and investor guidelines, borrower validation, ability to repay and risk mitigation.
• Calculate income and assets accurately and require sufficient documentation to support findings; follow AUS findings as a requirement.
• Make adjustments to underwriting as necessary based on QC findings.
• Ensure loans meet the ATR rules established by the CFPB by considering the eight underwriting factors.
• Make an underwriting decision on each loan file within service level agreements and communicate decisions.
• Confer with Loan Officer to aid in resolving mortgage application conditions.
• Enter all underwriting conditions and HMDA data into Encompass LOS system.
• Order PMI as per investor and program requirements.
• Responsible for timely response on audits of loan files.
• Underwrite Jumbo and Complex Self-Employed loans.
• Advise Supervisor of factors affecting lending policies.
• Make recommendations and assist in changes to Coastal1’s policies and procedures.
• Sign off on closing conditions and finalize loans.

Skills

Mortgage underwriting

Lending experience

Microsoft Office

Communication skills

Time management

Education

High school diploma or equivalent

Associate degree preferred

Tools

Encompass LOS

Job description

Coastal1 Credit Union in Pawtucket is hiring an experienced Mortgage Underwriter II in our Real Estate Lending Department to underwrite residential mortgage loans including Jumbo and Complex Self-Employed loans. Under the VP Real Estate Lending, you will review applications, verify documentation, ensure compliance, and communicate decisions to Loan Officers and processors.

This on-site role requires NMLS registration, strong math and communication skills, and the ability to manage multiple