Job Description
Job DescriptionWe are looking for a skilled Senior Loan Underwriter to join our team in Cambridge, Massachusetts. In this role, you will leverage your expertise in mortgage underwriting to assess loan applications and ensure compliance with industry standards and regulations. This is a contract to permanent position, offering an excellent opportunity for career advancement within the banking sector.
Responsibilities:
• Review and analyze mortgage loan applications to ensure compliance with federal and state regulations as well as industry guidelines.
• Evaluate borrower financial information, including credit reports, income statements, and asset documents, to determine eligibility.
• Apply underwriting standards set forth by FHA, FNMA, and FMLMC in decision-making processes.
• Assess risk factors and make informed recommendations on loan approvals or denials.
• Collaborate with loan officers and other team members to resolve documentation discrepancies and improve application accuracy.
• Maintain detailed records of underwriting decisions and provide clear explanations for approval or denial.
• Stay updated on changes in lending policies, guidelines, and regulations to ensure adherence in underwriting practices.
• Utilize Microsoft Word and Excel effectively to prepare reports and manage documentation.
• Ensure compliance with the S.A.F.E. Act by registering as required.
• Contribute to a smooth transition of internal systems or processes when needed.• At least 5 years of experience in mortgage banking underwriting with attention to detail.
• Strong knowledge of lending and underwriting policies, including FHA and FNMA guidelines.
• Familiarity with federal and state regulations governing the mortgage industry.
• Excellent organizational, analytical, and problem-solving abilities.
• Proficiency in Microsoft Word and Excel for documentation and reporting purposes.
• Effective verbal and written communication skills to interact with clients and team members.
• Registration as required by the S.A.F.E. Act.
• Ability to evaluate financial data and assess risk accurately.