Bay State Bank · 1 day ago
Home Equity and Consumer Lending Underwriter
Worcester, MA
Full-time
Onsite
Entry, Mid Level
$31/hr - $34/hr
2+ years expBay State Bank is a Massachusetts-based mutual bank established in 1895, focusing on long-term community impact. The Home Equity & Consumer Lending Underwriter is responsible for evaluating, underwriting, and recommending decisions on consumer loan applications while ensuring compliance with bank policies and regulatory requirements.
Banking
Responsibilities
Responsible for the underwriting and closing of consumer loan products, including, but not limited to: home equity loans, home equity lines of credit, personal unsecured loans, Mass Save Heat loans, auto loans, passbook loans, etc
Evaluate documents such as credit reports, pay stubs, W-2s, income tax returns, bank statements, title commitments, appraisals, and other documents as necessary
Make appropriate recommendations for approval, decline, counteroffer, or suspension of applications in accordance with Bank Loan Policy
Appraisal review to ensure accurate representation of property value
Title rundown/commitment reviews for ownership, defects, or encumbrances. Notify relevant parties of adverse findings and work with the bank’s attorney to resolve issues
Completes final compliance review prior to issuing final closing package
Prepare commitment letters and adverse action notices in compliance with all federal/state regulations, TRID, and Loan Policy
Quality-check closed packages for accuracy and adherence to federal/state guidelines and bank policy
Properly use and maintain the electronic document storage system (Identifi)
When prompted, conducts initial review of all HMDA reportable loans for annual reporting on the bank’s LAR. Completes HMDA worksheet for review by VP – Retail Lending
Ensure underwriting processes are completed efficiently, accurately, and in alignment with established service-level expectations
Identify opportunities to streamline workflows, reduce turnaround times, and improve loan processing efficiencies
Maintain high standards of data integrity and documentation accuracy throughout the underwriting, closing, and post-closing processes
Adhere to quality control requirements to minimize errors and regulatory risk
Support continuous improvement initiatives by recommending process enhancements and participating in system or policy updates
Utilize technology tools (e.g., LOS system, Loan Writer, Encompass, and Identifi) effectively to maintain consistency, reduce processing bottlenecks, and ensure smooth operational flow
Help ensure compliance with operational, regulatory, and internal audit standards through recordkeeping and adherence to procedure
Monitor personal workload to balance efficiency
Communicate status effectively in weekly pipeline management meetings with retail lending staff
Perform related duties as required
Provide strategic guidance on consumer lending to Banking Center Officers and their teams
Mentor branch originators to ensure product knowledge and understanding of workflows
Work closely with the VP Retail Lending Officer to streamline processes and improve client experience
Embody and reinforce the bank’s core values in all interactions with staff, clients, and external partners
Qualification
Required
High school diploma or equivalent
College coursework in the fields of accounting of finance, or equivalent work experience
2 years of experience in equity and consumer underwriting
Sound knowledge of State and Federal banking regulations
Sound knowledge of regulatory requirements
Thorough understanding of equity and consumer loan products
Thorough understanding of the Bank's Retail Lending products, programs, and fee structures
High level of computer literacy, including Microsoft Office programs
Must have the ability to analyze and evaluate special circumstances and make appropriate decisions according to operating policies and procedures
Proactive, precise, and highly motivated
Strong written and verbal skills
Preferred
Encompass, Loan Riter, Identifi, and Insight experience preferred
Company
Bay State Bank
Our History Bay State Bank’s roots extend back to 1895, when 114 spirited citizens of Worcester gathered together and pledged a total of $7,660 to establish a new savings bank in the city.
51-200 employees
Funding
Current Stage
Growth StageLeadership Team
Peter Alden
President & CEO
Tami M. Gunsch
Chief Retail Banking Officer
Recent News
2025-09-12
Worcester Business Journal
2023-06-30
Worcester Business Journal
2023-02-26
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