Retail Lending Underwriter (FT)

Position: Retail Lending Underwriter

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

Office Location:This position is 100% onsite in person in Westfield, MA

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

• Preform a thorough underwriting review of all new files, including; self-employment and rental worksheets, complete list of required conditions and underwriting recommendation summary.
• Underwrite 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.
• Determine and verify 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.
• Prepare and issue all necessary approval and denial documents required to ensure compliance with regulatory guidelines and bank policy.
• Prepare and issue all Notice of Incomplete Application (NOI) notices and Change of Circumstance (revised Loan Estimates) within the required timeframe.
• Utilize Mortgage and Consumer Loan Origination systems, including Automated Underwriting Systems (AUS) to underwrite files in a timely manner.
• Maintain a strong knowledge of and is compliant with the bank’s Retail lending policies, procedures and guidelines.
• Maintain a strong knowledge of and is compliant with secondary market guidelines, government and state funded guidelines as well as mortgage insurance guidelines.
• Maintain 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

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.

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

BENEFITS:

Westfield Bank offers a comprehensive benefits package designed to support employees' health, financial well-being, and work-life balance. Benefits may include medical, dental, and vision insurance, health savings and reimbursement accounts, paid time off and holidays, 401(k) with company match, company-funded ESOP, life and disability insurance, employee assistance programs, tuition reimbursement, and employee banking benefits.

Westfield Bank is proud to invest in our employees by offering benefits that help support their health, financial security, professional growth, and overall quality of life.

Benefits are subject to eligibility requirements and plan provisions and may be changed or discontinued at the Bank's discretion.

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.