Retail Lending Underwriter

Position:  Retail Lending Systems Administrator

Department:  Retail Loan

Job Status: Full Time

FLSA Status:  Exempt

Grade: 11

Reports to : AVP, Retail Lending Operations Production Manager

Amount of Travel Required:  Some Travel

Positions Supervised: None

POSITION SUMMARY

Performs a range of duties related to the underwriting of residential mortgages, home equity lines and loans and consumer loans. Assesses loan attributes and documentation for soundness and accuracy. Renders underwriting decisions in accordance with Federal and State regulations and secondary market guidelines as well as bank policies and procedures. This position requires S.A.F.E. Act registration at the time of employment through the Nationwide Mortgage Licensing system (NMLS).

  ESSENTIAL FUNCTIONS

• Preforms a thorough underwriting review of all new files, including; self-employment and rental worksheets, complete list of required conditions and underwriting recommendation summary.
• Underwrites mortgage, construction and consumer loan files by thoroughly reviewing and analyzing the employment profile, credit strength, property characteristics and all other information pertinent to make a credit decision within limit of lending authority.
• Determines and verifies borrower’s Ability to Repay (ATR) and if the file meets Qualified Mortgage (QM) requirements.
• Communicates directly with Processors, Closers and Loan Officers regarding decision results, condition requirements and any pertinent aspects of the loan file.
• Prepares and issues all necessary approval and denial documents required to ensure compliance with regulatory guidelines and bank policy.
• Prepares and issues all Notice of Incomplete Application (NOI) notices and Change of Circumstance (revised Loan Estimates) within the required timeframe.
• Utilizes Mortgage and Consumer Loan Origination systems, including Automated Underwriting Systems (AUS) to underwrite files in a timely manner.
• Maintains a strong knowledge of and is compliant with the bank’s Retail lending policies, procedures and guidelines.
• Maintains a strong knowledge of and is compliant with secondary market guidelines, government and state funded guidelines as well as mortgage insurance guidelines.
• Maintains underwriting authority to approved lending limit.
• Must complete BSA, AML, and other Regulatory and Continuing Education as assigned.
• Must adhere to all bank and regulatory policies and procedures specific to position. 
• Performs additional duties as requested.

POSITION QUALIFICATIONS

Competencies

• Attention to Detail
• Decision Making/Judgment
• Productivity
• Quality
• Time Management

Education/Experience/Skills

• Bachelor’s degree or comparable work experience required.
• Three (3) or more years of experience underwriting residential and consumer loans.
• Experience with tax return analysis for self-employed borrowers as well as corporations and partnerships.
• Effective oral and written communication skills.
• Demonstrated knowledge of Automated Underwriting Systems (ie; DU & LP).
• High degree of attention to detail and the ability to work under pressure of multiple projects and deadlines.
• Ability to interpret and apply required policies and procedures with minimal supervision.
• Knowledge of LOS Encompass system. FHA Direct Endorsed Underwriter designation a plus.

PHYSICAL DEMANDS

Physical Demands

Stand: O (Occasionally)

Walk: O (Occasionally)

Sit: F (Frequently)

Handling / Fingering: O (Occasionally)

Reach Outward: O (Occasionally)

Reach Above Shoulder: N (Not Applicable)

Climb: N (Not Applicable)

Crawl: N (Not Applicable)

Squat or Kneel: N (Not Applicable)

Bend: N (Not Applicable)

Lift/Carry

10 lbs or less: N (Not Applicable)

11-20 lbs: N (Not Applicable)

21-50 lbs: N (Not Applicable)

51-100 lbs: N (Not Applicable)

Over 100 lbs: N (Not Applicable)

Push/Pull

12 lbs or less: N (Not Applicable)

13-25 lbs: N (Not Applicable)

26-40 lbs: N (Not Applicable)

41-100 lbs: N (Not Applicable)

N (Not Applicable) Activity is not applicable to this occupation.

O (Occasionally)  Occupation requires this activity up to 33% of the time (0-2.5+ hrs/day)

F (Frequently)  Occupation requires this activity from 33%-66% of the time (2.5-5.5+ hrs/day)

C (Constantly) Occupation requires this activity more than 66% of the time (5.5+ hrs/day)

Other Physical Requirements

None

Westfield Bank has reviewed this job description to ensure that essential functions and basic duties have been included. It is not intended to be construed as an exhaustive list of all functions, responsibilities, skills and abilities. Additional functions and requirements may be assigned by supervisors as deemed appropriate.