"Alerted.org

Mortgage Loan Underwriter

Job Details

Level

Experienced

Job Location

Headquarters - Marlborough, MA

Remote Type

Hybrid

Position Type

Full Time

Salary Range

$80000.00 - $90000.00 Salary

Job Category

Admin - Clerical

Description

Title: Mortgage Underwriter Salary Grade:

FLSA Status: Non-exempt Employment Status:Full Time

Department: Retail Lending Location:Headquarters/Flexible/Hybrid Work Model EligibleReports To:VP, Retail Lending Manager

Date Prepared: September 1, 2025 Human Resources Review:September 10, 2025

SUMMARY:

Reporting to the VP, Retail Lending Manager the Mortgage Underwriter will assist in the production of the Retail Lending Department in the areas of underwriting.

This position will be the expert for determining all underwriting criteria, interpretation, forms, and processes in meeting investor, portfolio and mortgage insurance guidelines. The position is responsible for ensuring salability of each investor closed loan, balancing risk management responsibilities with creative judgment to maximize lending opportunities.

Using Lean principles, you will identify improvements for streamlining operations to optimize efficiencies and maximize profitability. You will assist with projects that affect the department and the bank and act as a resource and back-up for other team members in the Retail Lending Department and its supporting departments. Additionally, this position embraces the established sales and service culture while coaching employees to maximize their contribution to the Bank’s goals. This role is solely responsible for residential underwriting activity. Reviews and evaluates application information. Makes approval/denial recommendations or decisions. May interpret underwriting guidelines and keep necessary parties informed relative to changes and updates. Responds to inquiries to provide guidance and clarification.

The Mortgage Underwriter determines underwriting criteria and ensures compliance with investor, portfolio, and mortgage insurance guidelines, balancing risk management and lending opportunities. This role identifies process improvements, assists with departmental projects, and acts as a resource for Retail Lending and related teams. Additionally, this position is solely responsible for residential and consumer underwriting, the position reviews applications, makes approval or denial decisions, interprets guidelines, communicates updates, and responds to inquiries for guidance.

After successful completion of training and proven abilities, this position is eligible for a hybrid work arrangement with an agreed upon number of days per-week/month on site.

o Consistent availability is expected during core business hours. Work outside of regular business hours requires approval on an as needed basis to meet deadlines and fulfil the needs of both internal and external customers.

ESSENTIAL DUTIES and RESPONSIBILITIES:

The following duties represent the core requirements for the Mortgage Underwriter position. The employee is expected to demonstrate expert knowledge, sound judgment, and a high level of organization while fulfilling each responsibility related to underwriting a diverse range of mortgage products, including secondary market loans, portfolio first mortgages and equity loans, as well as construction loans.

+ Expertly underwrite a broad spectrum of residential mortgage products, including but not limited to secondary market loans (conforming and non-conforming), portfolio first mortgages, home equity loans and lines of credit, and construction loans, ensuring compliance with investor, portfolio, and regulatory guidelines.

+ Conduct thorough evaluation of loan applications and supporting documentation, applying current underwriting standards for all product types, including complex scenarios such as self-employed borrowers, commission-based income, overtime, and commercial income streams.

+ Accurately assess risk and make sound approval or denial decisions, balancing prudent risk management with creative solutions to maximize lending opportunities and meet the needs of both the bank and its customers.

+ Prepare and submit final underwriting packages for approval as required; ensure all documentation meets investor and regulatory standards for saleability and compliance.

+ Issue commitment and adverse action notifications in alignment with ECOA and HMDA regulations, and ensure all appropriate steps are taken to maintain compliance.

+ Perform detailed reviews of loan files to ensure acceptability by investors, regulatory agencies, and third-party service providers.

+ Complete all actions necessary to issue “Clear to Close” for assigned files, coordinating with relevant parties to facilitate smooth loan closings across all mortgage products, including construction and equity loans.

+ Provide support to Consumer Lending and other departments by assisting in the processing and approval of a variety of loan types.

+ Present loans and pipeline reports to senior management, actively participating in discussions with Loan Origination staff, Loan Committee, and other stakeholders.

+ Assist with quality control reviews for both Secondary Market and Correspondent Lender loans, maintaining a strong focus on compliance and risk mitigation.

+ Review contract underwritten loan recommendations, performing detailed analyses and exercising sound judgment to render or support final lending decisions in accordance with secondary market or company policies and regulatory standards.

+ Assist in the maintenance and continuous improvement of the Fair Lending Matrix, ensuring adherence to all fair lending practices.

+ Monitor industry changes, including regulations and updates from Fannie Mae, Freddie Mac, and AllRegs, and communicate these changes to team members to safeguard the saleability of loans and compliance with all requirements.

+ Serve as a resource and back-up for appraisal reviews and other underwriting-related functions as needed.

+ Train and mentor junior underwriters and processors, providing ongoing guidance on underwriting criteria and best practices for all mortgage products, including construction and equity lending.

+ Conduct initial and ongoing HMDA reviews within LOS/POS systems to validate loan data, ensuring accuracy for regulatory reporting and compliance with CFPB standards.

+ Maintain working knowledge of loan origination and processing systems, supporting the development and refinement of written procedures to ensure compliance with secondary market, state, and federal guidelines.

+ Coordinate with underwriting, processing, and origination staff to ensure rate lock dates and loan delivery schedules are met for all loan types.

+ Support borrowers and loan originators by proactively requesting documentation, answering questions, and resolving issues throughout the underwriting and closing process.

+ Collaborate with third-party vendors and internal partners to facilitate efficient and compliant loan closings across all mortgage product offerings.

+ Provide departmental backup and support during periods of high volume or staff absences, ensuring seamless operations and customer service.

+ Model and reinforce the organization’s core values, service standards, and compliance with all applicable policies and regulations.

General:

+ Assist internal, external, and regulatory auditors with the collection of requested materials as assigned with their respective engagements.

+ Readily volunteer and accept assignments to special tasks established to address specific issues and opportunities within the department.

+ Effectively use tools and systems to be able to self-manage, organize, and complete work independently, proactively recognizing potential obstacles resolving them before they become an issue, managing to deadlines, creating action plans when not on track, enabling job functions to happen with minimal oversite and meeting conditions of satisfaction.

+ Use discretion in dealing with large amounts of sensitive, confidential information, while adhering to all Bank policies and procedures

+ Adhere to all company policies, consistently demonstrating our core values and service standards

+ Regular and consistent attendance is required to ensure the high standard of customer service.

+ In the performance of respective tasks and duties, the employee is expected to maintain knowledge of and ensure compliance with Bank Secrecy Act regulations and adheres to compliance procedures and internal/operational risk controls in accordance with all applicable regulatory standards, requirements and policies as well as attending all required training sessions and completing all required on-line training courses.

+ Other duties as assigned, performing similar or related work as directed, required, or as situation dictates.

LEVEL OF RESPONSIBILITY:

+ Work is a mix of routine and non-routine responsibilities that are complex and analytical in nature.

+ Working independently and under limited supervision this position interacts independently with other employees and customers, relying on prior directly related experience and procedures adhered to are prescribed by bank, State and Federal policy and regulations.

+ Sound decision making /recommendations for lending approvals impact the revenue of the institution

EQUIPMENT REQUIRED:

+ Smart Phone - To enable the MFA (Multi Factor Authentication) facilitating access to MSB systems.HYBRID/REMOTE ENVIRONMENT:

+ Your physical remote location must provide a dedicated workspace that is free from distraction and provides adequate light to be regularly visible on video calls.

+ You must have access to a reliable internet connection with adequate bandwidth to join Teams and other video calls.

SKILLS REQUIRED:

+ Bachelor’s degree and/or equivalent experience and training. Typically, 5+ years mortgage underwriting experience involving knowledge of approval and guideline processes. with expertise in credit documentation and DU/LP experience required, FHA preferred, with strong underwriting background proficient in underwriting the self-employed borrower

+ Extensive background in financial institution operating policies and procedures, banking regulations (state and federal);Knowledge of TRID, HMDA, RESPA, TIL, Fair Lending, CRA, ECOA, Reg O and all Lending related Regulations required.

+ Experience with database software, Encompass and COCC knowledge preferred.

+ An in-depth knowledge of secondary market requirements and residential regulatory compliance is a must

+ Thorough understanding of loan documentation criteria and business objectives for Residential Real Estate Lending

+ Extensive knowledge of residential real estate lending practices and related areas

+ In-depth knowledge of underwriting, closing and compliance issues

+ Proficient in Microsoft 365 Suite products including, but not limited to Excel, Word, Outlook, Teams, and SharePoint.

+ Solid understanding and application of administration activities with an understanding of office procedures and ability to operate standard office equipment.

COMPETENCIES:

+ Ability to multi-task, organize, work independently, accomplish tasks, and meet deadlines despite frequent interruptions in a fast-paced environment while maintaining attention to detail.

+ Excellent Communication Skills (written, verbal),

+ Highly detailed, organized, and professional

+ Problem solving abilities and superior follow up skills.

+ Time management

+ Ability to thrive within a fast-paced work environment and prioritize and the ability to handle shifting priorities.

+ Relationship Builder - Develops and maintains relationships with officers, employees and external contacts and maintains alignment with core values, vision, strategy, and goals.

+ Ability to interact on a professional level

+ Outstanding customer service skills (in person, over the phone or video conference)

+ Computer Technology Savvy - Utilize technology/systems to improve work processes and use a range of technology to solve problems.

LANGUAGE/COGNITIVE SKILLS:

The work skills described here are representative of those that must be met by an employee to successfully

perform the essential functions of this job.

The person in this position frequently communicates with customers about banking products, their bank accounts & transactions and therefore must be able to exchange accurate information in these cases. They will need to use judgment and discretion in decision making situations, interpret and follow all Bank policies and procedures, write/create reports, and business correspondence, (Main Street Bank’s standard language is English). As well as the ability to:

+ Speak and effectively present/communicate information and respond to questions from customers, groups of managers, vendors, and other employees.

+ Define problems, collect data, establish facts, and draw valid conclusions.

+ Read, analyze and interpret a variety of documents such as checks, underwriting guidelines, bank statements, Loan documents and Bank policies and procedures.

WORKING CONDITIONS AND PHYSICAL EFFORT:

The physical and work environment demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job.

While performing the duties of this job, the employee is required to:

Physical Demands/Efforts

+ Occasionally lift and/or move up to 10 pounds, (i.e., files)

+ Frequently required to remain in a stationary position, up to 80% of the time

+ Occasionally required to stoop and bend

Mental & Visual Demands

+ Consistently operate a computer for extended periods of time

+ Specific vision abilities may be required by this job include close vision, distance vision, peripheral vision, depth perception, and ability to adjust focus

+ Regular use of office productivity machinery (i.e., a calculator, copy machine, fax machine, computer printer).

Work Environment and Hazards

+ Regularly move throughout the inside the Bank to access resources and individuals

+ Occasional local travel for bank purposes and/or on behalf of the bank (i.e., bank meetings, networking, training).

+ The employee must be able to work schedules that meet the needs of the bank, which may include early morning, evening and/or weekend hours.

+ It is a general office environment when in the office where the noise level is moderate

AMERICANS WITH DISABILITIES ACT

Main Street Bank complies with all aspects of the Americans with Disabilities Act (ADA) and state disability laws. This means that we will not discriminate against qualified individuals with a disability in any phase of the employment relationship including application for employment, hiring, promotions and/or advancement opportunities, termination, compensation, training and any other conditions or privileges of employment.

Qualifications

The completion of this Application for Employment does not assure a position with Main Street Bank and any offer of employment is conditioned on the satisfactory completion of a background and credit review as determined by the sole discretion of Main Street Bank. Neither this Application for Employment nor any document constitutes a contract of employment for a specific term and that any employment relationship that may be established will be 'at-will' and if hired, may be terminated at any time, for any reason, by the applicant or Main Street Bank.

Massachusetts Law - It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.

Massachusetts General Laws c. 151B prohibits employers from (1) terminating or refusing to hire individuals on the basis of genetic information; (2) requesting genetic information concerning employees, applicants, or their family members; (3) attempting to induce individuals to undergo genetic tests or otherwise disclose genetic information; (4) using genetic information in any way that affects the terms and conditions of an individual’s employment; or (5) seeking, receiving or maintaining genetic information for any non-medical purpose.

Main Street Bank is an Equal Opportunity Employer, we are committed to recruiting, hiring, training, and promoting persons without regard to race, color, religion, national origin, citizenship, age, sex, marital status, ancestry, physical or mental disability, veteran status, sexual orientation, military service, genetic information, and gender identity.