Underwriter - Home Equity
USALLIANCE Financial, Chelmsford, MA, United States
Home Equity Underwriter
At USALLIANCE, we pride ourselves on innovation, teamwork, training and development and career planning. We are a unique members-first Credit Union Culture driven by our core Values: Trust, Collaboration, Achievement and Making a Difference. As part of our team, you will have the opportunity to grow both personally and professionally in an inclusive and supportive environment. Represent USALLIANCE in the community and form lasting relationships with our members and partners. About This Role
As the Home Equity Underwriter you would evaluate, process, and approve applications for home equity loans, analyzing financial information and property valuations. You would assess credit profiles, ensure compliance with regulations, and communicate with applicants and loan officers. Key Responsibilities
Analyze information to determine risk involved in lending money for home equity lines of credit (HELOC) and loans; responsible for analyzing/verifying income, assets, credit, and all supporting documentation to ensure sufficient to loan standards and guidelines; includes verifying all documentation is correct, complete and in the loan file; that the information has been correctly calculated. Provide direction and guidance to internal and external stakeholders for documentation and processing quality; ensure file conforms to guidelines. Review appraisal and automated valuation models to ensure value of collateral is sufficiently documented and appraiser has correctly completed forms. Ability to calculate income as allowed by FNMA guidelines. Making decision to either deny loan or, depending on the loan's attributes, approve loan or make recommendation to approve loan. Review underwriting decision, reasoning (logic), and conditions or counteroffer with appropriate parties. Keep current on regulations and guidelines including being adaptable to Credit Union policy and procedure changes to meet changes in regulations and assess credit risk. Assume additional duties as they arise, cross-train within the department, and be responsive to the department. Who You Are
3 years residential real estate experience with a minimum of 1 year underwriting experience. Recommended experience with home equities and renovation loan underwriting. Thorough knowledge of reviewing residential appraisals and automated valuation models. In-depth knowledge of home equity related requirements, procedures, & underwriting criteria. Excellent verbal and written communication skills. Strong interpersonal and organizational skills, with the ability to effectively manage and process loan pipelines within given workflows. PC Skills, including loan origination software, Outlook, and Microsoft Office. Recommended experience with Encompass. Thorough knowledge of FNMA underwriting guidelines. Ability to prioritize and meet deadlines. Requires successful registration with, and issuance of a unique identification number from, the Nationwide Mortgage Licensing System (NMLS) in compliance with the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (S.A.F.E. Act). What We Offer
Competitive salary and benefits package Opportunities for professional development and career growth with exposure to mentorship from the executive team. Hybrid Schedule (min 3 days in office to maximize collaboration) A collaborative and inclusive work environment Paid Time Off, Wellness Time & Paid Federal holidays 401K with 6% match High Performance Culture that specializes in training to sharpen and expand skills brought to USALLIANCE. Become a part of a team where your ideas are valued, your growth is supported, and your work makes a difference. Apply today and take the next step in your career with USALLIANCE. EQUAL OPPORTUNITY EMPLOYER USALLIANCE Federal Credit Union, as an Equal Opportunity Employer, values and supports the diverse cultures, perspectives, skills, and experiences within our workforce.
At USALLIANCE, we pride ourselves on innovation, teamwork, training and development and career planning. We are a unique members-first Credit Union Culture driven by our core Values: Trust, Collaboration, Achievement and Making a Difference. As part of our team, you will have the opportunity to grow both personally and professionally in an inclusive and supportive environment. Represent USALLIANCE in the community and form lasting relationships with our members and partners. About This Role
As the Home Equity Underwriter you would evaluate, process, and approve applications for home equity loans, analyzing financial information and property valuations. You would assess credit profiles, ensure compliance with regulations, and communicate with applicants and loan officers. Key Responsibilities
Analyze information to determine risk involved in lending money for home equity lines of credit (HELOC) and loans; responsible for analyzing/verifying income, assets, credit, and all supporting documentation to ensure sufficient to loan standards and guidelines; includes verifying all documentation is correct, complete and in the loan file; that the information has been correctly calculated. Provide direction and guidance to internal and external stakeholders for documentation and processing quality; ensure file conforms to guidelines. Review appraisal and automated valuation models to ensure value of collateral is sufficiently documented and appraiser has correctly completed forms. Ability to calculate income as allowed by FNMA guidelines. Making decision to either deny loan or, depending on the loan's attributes, approve loan or make recommendation to approve loan. Review underwriting decision, reasoning (logic), and conditions or counteroffer with appropriate parties. Keep current on regulations and guidelines including being adaptable to Credit Union policy and procedure changes to meet changes in regulations and assess credit risk. Assume additional duties as they arise, cross-train within the department, and be responsive to the department. Who You Are
3 years residential real estate experience with a minimum of 1 year underwriting experience. Recommended experience with home equities and renovation loan underwriting. Thorough knowledge of reviewing residential appraisals and automated valuation models. In-depth knowledge of home equity related requirements, procedures, & underwriting criteria. Excellent verbal and written communication skills. Strong interpersonal and organizational skills, with the ability to effectively manage and process loan pipelines within given workflows. PC Skills, including loan origination software, Outlook, and Microsoft Office. Recommended experience with Encompass. Thorough knowledge of FNMA underwriting guidelines. Ability to prioritize and meet deadlines. Requires successful registration with, and issuance of a unique identification number from, the Nationwide Mortgage Licensing System (NMLS) in compliance with the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (S.A.F.E. Act). What We Offer
Competitive salary and benefits package Opportunities for professional development and career growth with exposure to mentorship from the executive team. Hybrid Schedule (min 3 days in office to maximize collaboration) A collaborative and inclusive work environment Paid Time Off, Wellness Time & Paid Federal holidays 401K with 6% match High Performance Culture that specializes in training to sharpen and expand skills brought to USALLIANCE. Become a part of a team where your ideas are valued, your growth is supported, and your work makes a difference. Apply today and take the next step in your career with USALLIANCE. EQUAL OPPORTUNITY EMPLOYER USALLIANCE Federal Credit Union, as an Equal Opportunity Employer, values and supports the diverse cultures, perspectives, skills, and experiences within our workforce.