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Residential Mortgage Junior Underwriter

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South Windsor, CT

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United Bank is currently seeking a Residential Mortgage Jr. Underwriter to join our busy department, located in South Windsor, CT. This complex administrative, customer service, and data entry position is responsible for providing support to the work of the residential and consumer lending officers, in reviewing and pre-underwriting loan applications and files to ensure compliance with all state, federal and bank regulations as well as secondary market requirements, entering them into the computer system, and arranging for closings, ensuring completeness of documentation and adherence to compliance issues. ESSENTIAL FUNCTIONS of the POSITION: Performs a variety of duties pertaining to processing, closing and compliance for residential mortgage and consumer loans in accordance with Bank policies and procedures, governmental regulations and loan approval terms. Ability to make rational risk based decisions with regards to underwriting and processing determinations Communicate status\/issues throughout the process to all parties involved. Verifies all loan registrations from all branches in the Bank\u2019s computer system and obtains necessary verifications. Prepares and sends all necessary compliance disclosures including Truth-in Lending and Good Faith estimates within specified time frame; sends out proper documents on denied or withdrawn applications and updates loan records in computer system. Supports origination sales team with positive attitude. Pre-underwrite loan files to make sure that all needed information, forms, and documentation are collected and complete. Monitors and processes incoming documentation, such as credit reports, flood certification and compliance documents in accordance with state, federal, bank and investor requirements. Manage pipeline to insure all commitment and closing dates are met as well as the bank\u2019s production timeframe standards, typically 30 days. Performs HMDA compliance review of loan files. Assists the Loan Origination Officer with the collection, monitoring and reporting of HMDA data. Assists the Loan Origination Officer with the review, correction and reporting of Quality Control findings to the VP Pipeline Manager. Reviews appraisals in accordance with bank and investor guidelines and ensures collateral values. Responds to customers\u2019 and loan officers\u2019 inquiries on status of loans. Provide explanations to customers on credit issues and other items pertinent to loan applications and closings. OTHER FUNCTIONS of the POSITION: Maintains strong knowledge and understanding of legal requirements and compliance issues pertaining to assigned work. Attends workshops and seminars on issues pertinent to loan applications and closings. All employees are subject to the requirements of the United Bank BSA Program. An employee\u2019s role with United Bank determines which parts of the program apply. However, all employees are responsible for reporting suspicious activity identified in the course of their work, and all employees are responsible for the timely completion of mandatory compliance training assigned, such as BSA and OFAC. The above duties may not be all-inclusive. The incumbent may be asked or required to perform other work as time and abilities allow. DISTINGUISHING CHARACTERISTICS of the POSITION: Judgment: Work is performed under the direct supervision of the VP, Pipeline Manager, following established lending procedures and compliance issues, which require judgment, initiative, and alertness in their application. Complexity: Work involves a broad range of loan processing and closing activities, with specific responsibility for ensuring that loans are entered into the Bank\u2019s systems, documentation and files are complete, and closing packages are prepared on a timely basis. Impact of Errors: Errors, both in terms of judgment and technical aspects of the position, may be detected in succeeding operations and at the closings, but may cause delay in tracing and correcting, may result in cost to the Bank, in failure to apply appropriate procedures and compliance regulations, and in failure to deliver efficient and quality service, all of which could adversely impact the reputation of United Bank. Interpersonal Relationships: Work involves daily contacts in person, by telephone and correspondence with customers and attorneys, primarily to furnish or provide factual information. Contacts require diplomacy, tact, efficiency, and the ability to deal patiently with a wide variety of people. Supervisory Responsibilities: Work does not normally involve any supervisory responsibilities, but may involve training of certain Bank personnel in procedures related to loan applications and closings. QUALIFICATIONS for the POSITION: Education: High school graduation or the equivalent (GED), supplemented by on-the-job training and college-level courses in banking, lending, and credit analysis. Experience: At least three years of progressively responsible positions in lending functions, including work with computerized systems, underwriting compliance and closing procedures. Knowledge, Abilities, and Skills: Considerable knowledge of lending products, activities, and related records, as well as the Bank's policies, procedures, and compliance issues as applied to underwriting, closing, documentation, and records maintenance. Computer literate with considerable knowledge of loan software. Ability to solve problems, to establish realistic priorities, and to deal effectively and courteously with a wide variety of people. Aptitude for figures and detailed work. Articulate in reading and writing skills and in speaking clearly in English. Physical Requirements: Mobility to move within the Bank, to Branch locations, and attorneys\u2019 offices as required. Ability to lift, bend, reach, and carry files. Eyesight and hearing at a level that does not interfere with assigned duties. Desirable Qualifications: Previous experience in processing or underwriting to secondary market mortgage lending guidelines at a high volume bank or a mortgage company. Previous experience dealing with secondary market and compliance issue, especially HMDA. College-level courses in accounting, credit analysis, and para-legal matters pertaining to lending.

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