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 - $102,265.90 - $122,719.17)

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.

FUNCTION: 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.

ESSENTIAL JOB DUTIES AND RESPONSIBILITIES:

• 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.

*Additional Responsibilities for Senior Mortgage Underwriter:

• 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 participate 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

Other Duties:

• 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.

Education

• High School Diploma or Equivalent Required.

Experience:

• 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 Qualifications for Senior Mortgage Processor:
  • 5-8 years of experience in secondary mortgage underwriting, including complex loan types such as jumbo, construction, non-conforming and portfolio products. Demonstrated ability to assess risk, make high-level credit decisions, and mentor junior underwriters. Experienced in leading underwriting process improvements and maintaining high-quality standards in a fast-paced environment. Recognized for attention to detail, leadership, and commitment to confidentiality and organizational values.

Knowledge/Skills/Abilities/Competencies:

A successful Underwriter demonstrates deep knowledge of mortgage products, investor guidelines, and regulatory requirements (including TRID, RESPA, and HMDA). Proficient in loan origination systems (LOS), AUS platforms, and document management tools. Strong analytical and decision-making skills are essential for assessing credit risk and ensuring sound underwriting decisions. Must be detail-oriented, organized, and capable of managing multiple priorities. The role requires confidentiality, adaptability, and collaboration with internal teams to ensure efficient, compliant, and risk-aligned loan underwriting.

Work Environment:

• Hybrid Work Environment: This position offers a hybrid work environment, combining remote work with regular on-site days at the Littleton Headquarters. This work environment is subject to change based on business needs.

Physical Demands:

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job.

• This is a largely sedentary role.
• While performing the duties of this job, the employee is regularly required to stand, talk, hear, and use hands and fingers to handle, feel or operate objects, tools, or controls and to reach with hands and arms.
• This role routinely uses standard office equipment such as computers, phones, photocopier/scanner, filing cabinets, and fax machines.

About Workers Credit Union: Since 1914, Workers Credit Union has existed to Improve the Daily Lives of our Members. We deliver on our core purpose by partnering with our members to help them make their best financial choices and improve their financial wellness. We call this The Workers Way and this is at the center of everything we do. Through our specialized financial counseling, we are pioneering a new member experience through high-touch service and convenient technology. We have grown to over 2.6 Billion in assets and serve over 120,000 members. We are one of the top performing credit unions in Massachusetts with big plans for the future!

Benefits:

• Comprehensive medical, dental and vision plans
• Basic life and AD&D insurance, short-term disability and long-term disability
• 15+ days of paid time off (PTO) per year
• Up to 16 hours of volunteer time off (VTO) per year
• 11+ paid holidays
• 401(k) that includes a Safe Harbor Match of up to 4%.
• Tuition Reimbursement Program
• Mental health resources including an Employee Assistance Program (EAP)
• Individualized learning and development programs

EEO Statement: All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, veteran or disability status.