Residential Processor/Jr. Underwriter at City of Boston Credit Union

Boston, Massachusetts, United States -

Full Time

Start Date

Immediate

Expiry Date

22 Jun, 26

Salary

85000.0

Posted On

24 Mar, 26

Experience

2 year(s) or above

Remote Job

Yes

Telecommute

Yes

Sponsor Visa

Skills

Loan Processing, Underwriting, Home Equity Loans, TRID Compliance, Appraisal Ordering, Title Reports, Flood Determinations, Income Verification, Credit Analysis, DTI Calculation, LTV Ratio Calculation, Risk Assessment, Fair Lending Compliance, ECOA Compliance, HMDA Compliance, LOS Systems Proficiency

Industry

Financial Services

Description

Description Overview The Residential Equity Processor/Junior Underwriter role combines responsibilities of processing residential home equity loans and assisting with underwriting decisions. The position ensures timely, accurate, and compliant processing of home equity loans and supports underwriting activities for Residential products within the credit union guidelines and regulatory requirements. The essential functions include, but are not limited to the following: Prepare weekly/monthly reports for management, Credit Committee, and the Board, as needed. Review and process home equity loan applications from initial disclosure to closing. Order and review appraisals, title reports, flood determinations, and other required documentation. Verify income, credit, and collateral information; ensure compliance with TRID and other regulations. Communicate with members and internal teams regarding loan status and required conditions. Prepare closing disclosures and provide clear-to-close authorization. Maintain accurate records and ensure adherence to credit union policies and federal/state lending law Assist in reviewing consumer and mortgage loan applications for completeness and accuracy. Analyze credit reports, calculate DTI and LTV ratios, and assess risk factors. Make recommendations or decisions within delegated authority; escalate complex cases. Ensure compliance with Fair Lending, ECOA, HMDA, and other applicable regulations. Collaborate with loan officers and processors to resolve conditions quickly. Participate in training to develop underwriting expertise. Requirements High school diploma required; associate or bachelor’s degree preferred. 2+ years of experience in loan processing or residential lending; underwriting exposure a plus. Strong knowledge of lending regulations and home equity products. Proficiency in LOS systems (e.g., Encompass) and Microsoft Office. Excellent attention to detail, organizational skills, and communication abilities. NMLS registration may be required. Attention to detail and a commitment to accuracy. Effective communication and interpersonal skills. NMLS registration is preferred or ability to obtain.

Responsibilities

This role involves processing residential home equity loan applications from initial disclosure through closing, which includes ordering and reviewing necessary documentation like appraisals and title reports. The processor also supports underwriting by verifying information, ensuring regulatory compliance, preparing reports, and communicating loan status to members and internal teams.