Loan Underwriter

Cambridge, MA 02141

Posted: 09/27/2018 Employment Type: Direct Hire Specialty: Accounting & Finance Job Number: 82151

A top company in Cambridge, MA is seeking a Loan Underwriter to join their team. This position will be under the general direction of the Vice President. As the Loan Underwriter, you will provide quality loans by underwriting consumer loan products and residential mortgage applications originated by in-house originators and through other sources. You will also recommend approval of customer applications for residential loans or extensions of real estate loan lines. 

This organization truly values its employees and promotes from within. This is an excellent opportunity for growth!

Benefits for the Loan Underwriter:
  • Medical, Dental, and Vision
  • Generous paid time off 
  • 401(k) match
  • Short and long term disability 
  Responsibilities for the Loan Underwriter:
  • Analyze applicant’ s financial status, credit and property evaluations to determine terms and conditions of approving the loan
  • Perform risk assessment of credit and collateral ensuring loan salability and sound credit quality
  • Underwrite second mortgages including HELOCs and consumer loan products
  • Keep abreast of current underwriting practices and assist in updating the Bank’ s underwriting policies to ensure a smooth and effective work flow
  • Responsible for audit of loan files prior to and after funding is obtained
  • Confer with Vice President – Retail Lending Operations Manager to aid in resolving mortgage application issues
  • Responsible for verifying HMDA information for accuracy at loan level
  • Keep abreast of residential and consumer loan products
  • Maintain ECSB internal control standards, including timely implementation of internal and external audit recommendations
  • Assist with underwriting other loan products such as Conventional Loans, Small Business Loans, etc. as needed
Requirements for the Loan Underwriter:
  • Bachelor’ s Degree in finance or Accounting or equivalent through specialized coursework and training
  • Knowledge of basic lending and underwriting policies and procedures, including guidelines issued by state and federal regulations
  • Minimum of 3 years Mortgage Banking Underwriting experience required
  • Must have excellent organizational, analytical, mathematical, and problem-solving skills
  • Good verbal and written communication skills
  • Must become a registered MLO in accordance with the S.A.F.E. Act
  • Working knowledge of Microsoft Word and Excel
  • Must be eligible to work in the U.S. without sponsorship                     

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