Senior Mortgage Underwriter

Purpose: The Senior Contract Underwriter provides experienced credit analysis and independent risk assessment for residential mortgage loan requests. This position evaluates loan documentation, collateral, borrower capacity, and policy compliance; documents sound credit recommendations and decisions within delegated authority; and serves as a senior resource to lending and underwriting personnel. The role supports consistent application of the Bank’s residential mortgage credit policy and investor underwriting requirements.

Job Functions:

• Perform comprehensive reviews of residential mortgage files, including credit reports, income and employment verification, assets, liabilities, purchase contracts, appraisals, title matters, and other relevant documentation.
• Assess borrower creditworthiness, repayment capacity, loan structure, collateral adequacy, and key risk factors; calculate qualifying ratios and review exceptions or compensating factors as applicable.
• Recommend loan approvals, denials, or additional conditions in accordance with the Bank’s credit policy, underwriting standards, and established approval authority.
• Prepare clear, well-supported credit analyses and decision rationales; identify file deficiencies, inconsistencies, material risks, and required conditions.
• Review appraisals and property-related information for completeness, reasonableness, eligibility, and potential collateral concerns.
• Communicate promptly with loan originators, processors, management, and related departments to resolve underwriting issues and maintain appropriate file turn times.
• Provide senior-level guidance to underwriting and lending staff on complex transactions, credit-risk interpretation, documentation requirements, and best practices.
• Identify opportunities for minor clarifications or procedural refinements to residential mortgage credit policy; submit any proposed changes through established management, risk, compliance, and approval channels.
• Support internal reviews, examinations, and audits by maintaining accurate credit files, decision records, exception documentation, and complete system notes in Encompass.
• Perform other credit underwriting and residential lending duties as assigned by management.

Required Education, Knowledge, Skills and Abilities:

• Minimum of 25 years of residential mortgage banking and/or mortgage loan origination experience.
• Extensive experience evaluating residential mortgage transactions, assessing credit and collateral risk, and interpreting underwriting guidelines.
• Strong working knowledge of borrower income and asset analysis, self-employed and business financial documentation, credit reports, appraisals, title commitments, and related loan documents.
• Knowledge of applicable mortgage lending and consumer compliance requirements, including RESPA, Regulation Z, Regulation B/ECOA, TRID, and fair lending obligations.
• Excellent written credit analysis, professional judgment, communication, problem solving, and organizational skills; ability to prioritize deadlines and work independently.
• Proficiency with Encompass or a comparable loan origination system and standard mortgage documentation workflows.

Annual Salary: $50,000.00. Part-time.