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Title

Mortgage/FHA Underwriter 

About the Organization We are people serving people. Established in 1849, Savings Bank of Danbury is a full-service community bank rooted in history and positioned for the future. We provide a full array of deposit, savings, and lending services for individuals and businesses. Through modern banking technology, our customers can access to their accounts and manage their money anytime, on the go. We are committed to employing highly-motivated people who value customer care, professionalism, and team success.  
EOE Statement Savings Bank of Danbury is an equal employment opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, national origin, disability status, protected veteran status or any other characteristic protected by law.  
Position Underwriter  
Full-Time/Part-Time Full-Time  
Description

Summary: The Mortgage Underwriter reviews all documentation in the mortgage files to make credit decisions according to the mortgage program, investor and regulatory underwriting guidelines. An emphasis on quality of production is placed on all files while meeting management’s expectations of volume. The underwriter should always decision loans, placing an emphasis on the bank’s interest, while also balancing the needs and expectations of our customers.

Key responsibilities include, compliance with all banking regulations and the policies and procedures established by management, calculating debt to income ratios based on the client’s credit and income analysis, documenting sufficient assets for closing, review of the appraisal and verify all secondary market guidelines are met including the borrower's ability to repay.

PRIMARY DUTIES:

Review Mortgage Applications

  • Review the application package for missing information or documents that affect the loan decisionProduce/underwrite mortgage commitments.
  • Verify that every section of the application is completely filled out; verify that all supporting documents are included that affect the loan decision
  • Enter and/or verify information into Encompass system; verify that all information is entered and accurate
  • Act as the Underwriting Help Desk for the Mortgage Sales Team on loan structuring and loan scenarios
  • Satisfy all underwriting conditions necessary to close mortgage loans by contingency date
  • Review and underwrite appraisals per investor guidelines using the appraisal checklist within 72 hours of the receipt of the appraisal
     

Loan Analysis

  • Calculate debt to income ratios based on the applicant's credit and income analysis
  • Document sufficient assets for closing and review the appraisal provided
  • Make credit decisions including approval letter with all the necessary conditions, the counteroffer letter, or an adverse action letter within 30 days of application
  • Complete a minimum of 3 loan decisions daily as volume dictates
     

Decision Making/Compensating Factors

  • Notify Originators of loan decisions with an explanation of any modifications or reasons for denial
  • Return file to processor if additional information is needed
  • Move file to closer when file is ready
     

Compliance & Security

  • Follow all bank policies/procedures
  • Is aware of and complies with CRA guidelines and policies and the bank’s non-discrimination policy; complies with banking regulations
  • Secure all confidential data at all times and lock computer screen when leaving desk; follow "clean desk" policy
  • Comply with BSA requirements relating to Suspicious Activity Reporting, Currency Transaction Reporting, OFAC and red flags
  • Document applicant issues or areas of concern and record in the Complaint Tracker with follow-up information and resolution
 
Position Requirements

Educational and experience requirements include:

  • Bachelor's degree in business, or equivalent work experience in mortgage field
  • 5+ years in mortgage banking industry
  • Ability to communicate effectively in person, over the telephone and through written correspondence
  • Ability to analyze complex mortgage documentation
  • Knowledge of Government Loans (CHFA, VA)
  • Must be proficient with LP, DU/DO
  • Demonstrated knowledge of credit products and mortgage policies and procedures
  • Demonstrated knowledge of mortgage underwriting guidelines, Secondary Market, and mortgage underwriting analysis
  • Strong listening skills
  • Strong computer and electronic skills
  • Ability to use banking software
  • Strong analytical and thinking abilities

Physical Demands and Work Environment:

  • The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
  • While performing the duties of this job the employee:
  • Is regularly required to operate a computer and other office equipment such as, a copy machine, calculator, phone and computer printer.
  • Must be able to remain in a standing/stationary position for 80% of the time.
  • Is required to have close visual acuity to perform an activity such as, viewing a computer terminal and determine the accuracy, neatness and thoroughness of work assigned to self.
  • Is required to express or exchange ideas by means of the spoken word to convey detailed spoken instructions to other employees accurately.
  • Must be able to receive detailed information through oral communication.
  • The noise level in the work environment is usually low to moderate.
  • Position is considered sedentary and may require employee to lift up to 10 pounds.
 
Hours Per Week None Specified 

This position is currently accepting applications.

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