Home Equity Underwriter

Location

Middletown, RI | United States

Job description

BankNewport celebrates being a community bank since 1819. Offering new and exciting career opportunities, BankNewport is committed to providing our employees the resource and guidance to develop careers that are challenging and rewarding.

So if you’re looking for a great professional opportunity, know that BankNewport will empower and invest in you.

The Home Equity Underwriter is responsible for underwriting home equity loans and lines of credit in compliance with state and federal regulations and within established bank guidelines. The underwriter is able to decision loans in a timely and accurate manner. This position requires the underwriter to partner with all members of the home lending team as well as retail bankers.

Performs any functions necessary, within scope of authority and expertise, to provide the highest level of service and responsiveness to customers.

• Underwrites equity loan applications within scope of authority. Makes sound judgments on credit worthiness, reviews credit reports, income and financial statements leading to an independent credit decision.
• Maintain knowledge of secondary market underwriting guidelines.
• Provides guidance on complex loan scenarios, restructures loans and suggests counteroffers to a different product and/or program when appropriate.
• As appropriate, recommends approvals/declines on loans above lending authority to the VP or SVP of the department.
• Interprets policies and guidelines for equity specialist and retail bankers requiring guidance.
• Exceptional verbal and written communication skills, effectively communicates with internal and external customers and prepares necessary correspondence.
• Ability to analyze and interpret complex loan scenarios and make appropriate credit recommendation.
• Monitors updates of current practices in loan underwriting. Keeps abreast of federal and state laws and regulations pertaining to consumer rights, nondiscrimination, fair credit reporting, RESPA, HMDA, etc.
• Extensive knowledge of HMDA requirements and ensures accuracy of information being reported.
• Ability to provide department support in manager’s absence.
• Ability to work in a fast paced environment and meet established turn-times.
• Responds to HMDA compliance reviews in a timely fashion.

OTHER ACCOUNTABILITIES/RESPONSIBILITIES:

• Performs related and unrelated duties as required.
• Ability to cross train in residential lending and assist in times of high volume.
• Standard 40 hour work week expected, though position may sometimes require early arrival, late departure or weekend hours.

Associates Degree or its equivalent in specialized coursework, with a background in lending. Three to five years related experience. Home Equity lending and processing experience preferred. Demonstrated knowledge of equity lending policies, procedures and products, as well as knowledge of secondary market guidelines. Must be organized, detail-oriented and have excellent interpersonal, communication and computer skills. Experience with automated systems. Proficiency with the system is essential. Attendance in office during normal business hours (at minimum) may be required in order to effectively coordinate with multiple departments, projects and outside entities. Ability to work well with retail sales and loan officers. Demonstrated ability to analyze and evaluate complex income calculations. Desire to work in a fast paced production environment.

SUPERVISORY SCOPE:

None

INDEPENDENT ACTION:

Performs work independently within the scope of established guidelines and practices. Consults with manager when clarification or exception to Bank policy may be required. Ability to solve problems and provide solutions independently.

BANKNEWPORT CORE VALUES:

• We celebrate individuality
• We empower employees to be creative problem solvers
• We invest and take the time to really get to know our customers
• We commit to serving the financial needs of Rhode Islander’s

All employees of BankNewport are expected to support bank-wide efforts designed to understand, measure, monitor, reduce, control and report risk in the most efficient and cost-effective manner. Risk management includes but is not limited to compliance risk, credit risk, liquidity risk, market risk, operations risk and systems risk as well as attention to physical building safety and security. Furthermore, all support staff employees are expected to fully support the Bank’s “All In” initiative and utilize support staff training to consistently provide sales support to all departments. They should also possess an understanding of their department’s support metrics and continue to improve Bank efficiencies.

Any physical demands or work conditions described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

BankNewport is committed to a policy of Equal Employment Opportunity and will not discriminate against an applicant or employee on the basis of race, color, religion, creed, national origin or ancestry, sex, age, physical or mental disability, veteran or military status, genetic information, sexual orientation, gender identity or expression, pregnancy, childbirth or related medical conditions, military service, marital status, or any other legally recognized protected basis under federal, state or local laws, regulations or ordinances.

Job tags

Salary