Loan Underwriter

Analyze credit information and collateral documents to determine risk involved in lending to consumer customers by underwriting all loan packages. Examine loan documentation to ensure accuracy and completeness. Provide an underwriting decision to approve or deny the loans.

One must reside in Washington State with availability to work a hybrid position mostly working from home with varying office days.

• Evaluate equity lines, consumer loans, and documentation to determine if borrower, property, and loan conditions meet underwriting guidelines/requirements and render a loan decision ensuring accuracy and compliance.
• Calculate income and assets and require sufficient documentation to support decisions.
• Analyze credit reports and associated documentation and appraisals, qualify, and classify loans.
• Ensure loans meet the Ability to Repay (ATR) rules established by the Consumer Financial Protection Bureau (CFPB).
• Make timely underwriting decisions on each loan file and communicate decisions appropriately.
• Confer with Loan Officers, Processors, and Closers to resolve consumer and HELOC application conditions.
• Perform income tax analysis, loan structure, and restructure.
• Perform upfront review on residential mortgage loan applications when assigned to Underwriting.
• Develop and provide training for Loan Officers.
• Represent Oly Fed internally and externally, in a manner consistent with our values and culture.
• Other duties as assigned.

• Excellent public and customer relations skills to effectively communicate with internal and external customers, determine their needs, and maintain their confidence.
• Thorough understanding of banking regulations and Association policies and procedures with demonstrated ability to interpret and apply policies and regulations quickly and independently.
• Calculate qualifying income including analyzing tax returns and financial statements.
• Utilize analytical techniques and exercise independent judgment to solve problems and identify strategies to solve complex customer needs.
• Exercise confidentiality and discretionary judgment.
• Organization and flexibility to prioritize workload in a fast‑paced, customer‑driven environment.
• Exceptional written and verbal communication skills including the ability to clearly communicate and explain complex banking, lending and legal regulations and documents.
• Proficiency in basic computer programs with ability to learn new software.
• Read, write, speak, and understand English well. Ability to perform basic calculations.
• Work occasionally in the Main Office in downtown Olympia.

• Bachelor’s degree or equivalent experience and training in a related field preferred.
• Minimum five years of relevant mortgage experience preferred.
• Advanced mortgage loan appraisal review and tax analysis experience.
• Must be bondable.
• Reside in Washington State.

Duties are performed in usual office conditions. Ability to operate standard office equipment including personal computer, standard keyboard, 10‑key calculator and work a standard shift with repetitive wrist and hand movements. Ability to talk and hear. Ability to stand or sit for extended periods of time. Occasionally lift, move, or carry items up to 15 lbs. Ability to concentrate on the matter at hand, under sometimes distracting work conditions.

Requires manual dexterity and handling ability. Use hands and arms to finger, handle, grab and reach. Specific vision abilities including close vision and the ability to adjust focus. Work may involve eye strain due to constant use of computer screens. Occasional walking, kneeling, stooping, crouching, and bending. Ability to be mobile office‑wide for various business needs.

Employees are covered by medical, dental, vision, basic life insurance and long‑term disability. Voluntary benefit coverage includes life insurance, AD&D, legal, accident, critical illness, hospital indemnity, and FSA. Options for family coverage are available. Employees can enroll in our company’s 401k plan. We offer immediately vested 5% 401k match, as well as profit sharing. Employees are eligible for annual incentive bonus.

Full‑time employees will receive the following paid time off per month: 6.67 hours of vacation leave and 8 hours of sick leave. In addition, the following paid time off per year: 11 paid holidays; a float holiday; a birthday holiday; 24 wellness hours; 16 volunteer hours. Modified for part‑time employees.

Oly Fed is an Equal Opportunity Employer and affirmative action employer. EOE AA M/F/Vet/Disability