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Mortgage Underwriting Specialist

2 months ago


Middletown, Rhode Island, United States BankNewport Full time

Position Overview:

The role involves executing a range of underwriting and associated tasks to support the Residential Lending Division, ensuring adherence to the institution's policies and guidelines.

This position operates in a hybrid model, necessitating a minimum of three (3) days of in-office presence.

Key Responsibilities:

  • Conduct comprehensive underwriting for various loan products, including FNMA, portfolio, jumbo, and construction-to-permanent loans.
  • Verify that all critical information entered into the Loan Origination System (LOS) and Desktop Underwriter (DU) is precise during the review process.
  • Evaluate intricate income and credit documentation, encompassing both business and personal tax returns.
  • Stay updated on current underwriting practices and investor standards, as well as federal and state regulations relevant to residential mortgages.
  • Proactively recommend alternative programs for clients who do not meet the initially proposed terms.
  • Exhibit sound judgment in analyzing necessary documentation while effectively managing risk through informed decision-making.
  • Leverage expertise to act as a consultant for the residential lending division.
  • Maintain professional communication in both verbal and written formats with internal and external stakeholders.
  • Continuously seek ways to enhance departmental efficiency.
  • Assist with underwriting consumer loans as required.
  • Perform additional duties as needed.

Additional Requirements:

  • Standard 40-hour work week is anticipated, although early arrivals, late departures, or weekend hours may occasionally be necessary.
  • In-office attendance of at least three days per week is mandatory.

Qualifications:

  • Associate's Degree or equivalent specialized training in lending.
  • A minimum of three years of progressively responsible experience in mortgage lending, demonstrating a solid understanding of mortgage loan processes, policies, and products.
  • Comprehensive knowledge of FNMA, FHLMC, FHA, VA, and RIHMFC guidelines.
  • Strong communication, organizational, analytical, and computer skills are essential.
  • In-office attendance during standard business hours may be required to effectively coordinate with various departments, projects, and external entities.

Supervisory Scope:
None

Independent Action:
Operates independently within established guidelines and practices, consulting with management when clarification or exceptions to bank policy are necessary. Capable of problem-solving and providing solutions autonomously.

BankNewport is dedicated to maintaining a policy of Equal Employment Opportunity and will not discriminate against any applicant or employee based on race, color, religion, creed, national origin, sex, age, physical or mental disability, veteran status, genetic information, sexual orientation, gender identity or expression, pregnancy, childbirth or related medical conditions, marital status, or any other legally recognized protected basis under applicable laws.