USALLIANCE Financial · 10 hours ago
Underwriter - Home Equity
Chelmsford, MA
Full-time
Hybrid
Mid Level
$64K/yr - $80K/yr
3+ years expUSALLIANCE Financial is committed to innovation and teamwork, providing opportunities for personal and professional growth. The Home Equity Underwriter evaluates, processes, and approves applications for home equity loans, ensuring compliance with regulations and effective communication with applicants and loan officers.
BankingCredit CardsFinancial Services
No H1B
Responsibilities
Analyze information to determine risk involved in lending money for home equity lines of credit (HELOC) and loans; responsible for analyzing/verifying income, assets, credit, and all supporting documentation to ensure sufficient to loan standards and guidelines; includes verifying all documentation is correct, complete and in the loan file; that the information has been correctly calculated
Provide direction and guidance to internal and external stakeholders for documentation and processing quality; ensure file conforms to guidelines
Review appraisal and automated valuation models to ensure value of collateral is sufficiently documented and appraiser has correctly completed forms
Ability to calculate income as allowed by FNMA guidelines
Making decision to either deny loan or, depending on the loan’s attributes, approve loan or make recommendation to approve loan
Review underwriting decision, reasoning (logic), and conditions or counteroffer with appropriate parties
Keep current on regulations and guidelines including being adaptable to Credit Union policy and procedure changes to meet changes in regulations and assess credit risk
Assume additional duties as they arise, cross-train within the department, and be responsive to the department
Qualification
Required
3 years residential real estate experience with a minimum of 1 year underwriting experience
Recommended experience with home equities and renovation loan underwriting
Thorough knowledge of reviewing residential appraisals and automated valuation models
In-depth knowledge of home equity related requirements, procedures, & underwriting criteria
Excellent verbal and written communication skills
Strong interpersonal and organizational skills, with the ability to effectively manage and process loan pipelines within given workflows
PC Skills, including loan origination software, Outlook, and Microsoft Office
Recommended experience with Encompass
Thorough knowledge of FNMA underwriting guidelines
Ability to prioritize and meet deadlines
Requires successful registration with, and issuance of a unique identification number from, the Nationwide Mortgage Licensing System (NMLS) in compliance with the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (S.A.F.E. Act)
Benefits
Competitive Salary and Benefits Package
Opportunities for Professional Development and Career Growth
Hybrid Schedule (min. 3 Days in Office to Maximize Collaboration)
A Collaborative and Inclusive Work Environment
Paid Time Off, Wellness Time & Paid Federal Holidays
401K with 6% Match
High Performance Culture
Company
USALLIANCE Financial
Usalliance Financial is a full-service credit union that offers a wide range of banking services.
201-500 employees
Funding
Current Stage
Growth StageLeadership Team
Brett Wheeler
CFO and EVP of Finance and Risk Management
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