Sr. Mortgage Underwriter | Fair Lawn, New Jersey

Mmbba; Fair Lawn (NJ); Hybrid; USD 90,000 - 100,000; Full time

Job summary

Columbia Bank seeks a Senior Mortgage Underwriter in Fair Lawn, NJ to assess complex mortgage files including FHA, HUD and bank-originated loans. You will analyze income, credit, assets, and appraisal data, ensuring TRID compliance while applying secondary market guidelines, with a focus on accurate file approvals.

Hybrid schedule (3 days in office, 2 at home) and collaboration with account executives and processors to streamline underwriting and set standards for the team.

Qualifications

• Minimum 10 years of mortgage underwriting experience.
• Solid understanding of Freddie Mac and HUD rules and guidelines.
• Proficient in automated underwriting systems, including LP.

Responsibilities

• Underwrites first mortgage loans, including FHA and bank originated loans.
• Evaluates income types and completes income calculation worksheets.
• Reviews credit reports and asset documentation for reliability.
• Interprets DU/LP/FHA Total Score Card and resubmits data as needed.
• Grants initial and final approval within lending authority.
• Maintains productivity and meets deadlines for locks and contingencies.
• Provides training and guidance to processors and junior underwriters.

Skills

Computer skills (Word, Excel, Encompas

Education

College degree preferred

Tools

Encompass LOS

LP automated underwriting

Job description

Sr. Mortgage Underwriter | Fair Lawn, New Jersey

Location: Fair Lawn, NJ, US

Job Type: Regular Full-Time

Requisition ID: 2807

Salary Range: $90,000.00 To $100,000.00 Annually

Summary: Underwrites the most complex residential first mortgage loans including FHA, Correspondents, and Bank originated loans to determine borrower's willingness and ability to repay mortgage debt. Reviews loan files for completeness and compliance with Columbia Bank policies and procedures, Secondary Market guidelines, Federal Housing Administration, Federal regulations and any State law or regulation that may be applicable. Approve residential first mortgage loans and consumer mortgage loans within lending authority. Underwrites loans exceeding lending authority and recommends for approval or denial. Review Federal disclosures to ensure accuracy and compliance with TRID and any State regulation that may be applicable. Reviews and approves commitment conditions and clear file to close. Provide training and guidance to mortgage processors and newly hired underwriters. Work closely with Account Executives to assist them in qualifying complex loans. Assist in the development and implementation of underwriting standards.

Job Responsibilities:

Underwriting

• Underwrites first mortgage loans, including FHA, Correspondents and Bank originated loans, as well as consumer loans to determine accuracy of the supporting documents in the file along with compliance of Bank, Secondary Market and HUD guidelines.
• Evaluate and analyze all income types to establish qualifying income and complete income calculation worksheets. Checks accuracy of all calculations related to the loan file and verify system data integrity. Review credit reports and establish borrower(s) credit worthiness. Reviews appraisal report for accuracy and compliance. Verify assets and all other underwriting related documentation.
• Reviews and interprets DU/LP/FHA Total Score Card. Resubmits data to automated systems as applicable
• Responsible for granting initial and final approval for all loans within assigned lending authority. Underwrites loans exceeding lending authority and recommends for approval or denial to management.
• Resolve any problems that may occur and provide counter offers where applicable.
• Maintain productivity level and turn times as established by management. Prioritizes the underwriting caseload to meet various deadlines for lock expirations and contract contingencies.

Teamwork and training

• Works closely with Account Executives to assist them in qualifying complex loan requests.
• Work closely with the processing team to help ensure accurate submissions and completion of submitted files.
• Provides training and guidance to mortgage processors and newly hired underwriters.
• Assists managers with the development and implementation of underwriting standards. Answers and research general underwriting scenario and guideline questions.

Compliance

• Maintains a current knowledge of Columbia Bank's policies and procedures.
• Keeps informed of current Secondary Market guidelines, Agency guidelines, and all Federal and State law or regulations that may be applicable.
• Complete all required Bank compliance training classes within expected completion dates.

Other

• Performs other job related duties as may be assigned.

Required Qualifications:

• Minimum 10 years of mortgage underwriting experience.
• Solid understanding of Freddie Mac and HUD rules and guidelines.
• Proficient in automated underwriting systems, including LP.

Preferred Qualifications:

• Able to deal effectively with, and provide good service to, our customers and all levels of Bank personnel.
• FHA DE (CHUMS) preferred.
• A college degree is preferred.
• Creative problem solver with an understanding of compliance requirements.

Core Competencies/Skills:

• Strong and accurate computer skills, including Word, Excel and Encompass LOS.
• Excellent attention to details and strong figure aptitude.
• Ability to work under pressure and meet deadlines.
• Strong written and verbal communication skills

Schedule:

• This role is eligible for a hybrid schedule: 3 days in the office and 2 days work from home, based on business needs. This arrangement may change without notice.

Columbia Bank and its affiliates is an Equal Opportunity Employer, including individuals with disabilities and veterans.