Senior Mortgage Underwriter

Job Title: Senior Mortgage Underwriter

Department: Mortgage Lending

Department

Location:

Littleton, MA

Reports to: Mortgage Underwriting Manager

Career Stream: Individual Contributor

Classification: Hybrid

Onsite Frequency: On-site at HQ more than 10 days per month with assigned workspace

Pay Grade: 12

FLSA Status: Exempt

Pay Grade Range: ($81,812.64 - $ - $)

Actual compensation offered may vary from the posted pay grade range based on factors such as relevant experience, time in role, base salary of internal peers, prior performance, business sector, licensure requirements and/or skill level, and will be finalized at the time of offer.

Responsible for underwriting first mortgages and home equity loan applications. Ensures all files are complete and compliant with Workers Credit Union policies, investor requirements, mortgage insurance standards, and applicable government loan regulations.

• Underwrites first mortgage loans in compliance with all secondary market requirements, private mortgage insurance requirements, regulatory requirements and Workers Credit Union policies.
• Underwrites home equity loans in accordance with private mortgage insurance requirements, regulatory requirements and Workers Credit Union policies.
• Evaluates borrower creditworthiness and collateral to determine loan eligibility and assess overall risk to the credit union.
• Exercises sound judgment in approving, suspending, or denying loan applications based on a comprehensive risk analysis.
• Uses analytic tools (i.e. Collateral Underwriter, fraud prevention, etc.) in the risk assessment of the loan to determine requirements to meet legal and investor requirements.
• Ensures underwriting decisions align with the credit union's risk appetite, lending policies, and regulatory requirements.
• Remains current on investor and mortgage insurance guidelines.
• Prepares commitment letter for home equity and first mortgage loans.
• Clears loans for closing by ensuring pre-closing conditions have been satisfied.
• Reviews and decisions subordination requests according to loan policy.
• Provides the origination staff with support for the review of preapprovals.
• Uses knowledge of investor and mortgage insurance guidelines along with loan policy to not only approve loans as submitted but to restructure loans as required to obtain an approval.
• Tracks key milestones such as contingencies, closing dates, and rate lock expirations; communicate proactively with all applicable teams.
• Collaborates with internal stakeholders to resolve complex loan issues and ensure timely decision‑making.
• Prepares and issue revised Loan Estimates in compliance with TRID for any changes in circumstance.
• Maintains confidentiality of all data.
• Upholds the Workers Credit Union "Workers Way" culture through daily interactions and behaviors.
• Performs other duties as assigned to support departmental and organizational goals.

• Serves as a subject matter expert and resource for junior underwriters, providing guidance on complex loan scenarios, regulatory compliance, and internal procedures.
• Serves as a key decision-maker in loan policy exceptions, providing rationale and risk mitigation strategies.
• Supports the training and onboarding of new team members and temporary staff in collaboration with underwriting leadership.
• Takes ownership of high-volume or high-complexity pipelines including high-balance, non-conforming, or exception-based loans.
• Leads or participates in departmental initiatives aimed at improving underwriting efficiency, compliance, and member experience.
• Supports the implementation of policy updates, system enhancements, and procedural changes in coordination with mortgage underwriting leadership.

• May be asked to provide coverage in other WCU branches or departments.
• Adhere to all WCU policies and procedures which include security compliance and following guidelines intended to limit risk exposure to fraud and losses.
• Participates in department and/or organizational projects as directed.
• Performs other tasks or functions as required, requested, necessary or prudent.
• Maintains confidentiality of all member and credit union information and data.
• Regularly demonstrates behaviors as defined by the credit union's Fundamentals, which are part of the Workers Way culture program.

• High School Diploma or Equivalent Required.

• 2-5 years of experience in secondary mortgage underwriting. Knowledgeable in real estate lending guidelines and regulations including secondary market. Skilled in evaluating borrower credit, collateral, and capacity in accordance with investor and regulatory guidelines. Proficient in using loan origination systems (LOS) and automated underwriting systems (AUS). Known for sound judgment, attention to detail, efficiency in pipeline management, and effective communication with Originators, Processors, and Closers to ensure timely and accurate closings.
• Additional…