Columbia Financial, Inc.

Sr. Mortgage Underwriter | Fair Lawn, New Jersey

Columbia Financial, Inc. • $90K — $110K *
Fair Lawn, NJ 07410In-Person
Finance & Insurance
8 - 10 years of experience
Today
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Job Overview by Ladders

Qualifications

  • Minimum 10 years of mortgage underwriting experience required.
  • Strong understanding of Freddie Mac and HUD rules and guidelines.
  • Proficient in automated underwriting systems, including LP.
  • FHA DE (CHUMS) certification preferred.
  • A college degree is preferred but not mandatory.
  • Creative problem-solving skills with compliance understanding needed.
  • Strong computer skills in Word, Excel, and Encompass LOS.

Responsibilities

  • Underwrite complex first mortgage loans and consumer loans for compliance and accuracy.
  • Evaluate various income types to establish qualifying income and verify document integrity.
  • Review and interpret DU/LP/FHA Total Score Card and adjust submissions accordingly.
  • Grant loan approvals within authority; recommend additional approvals or denials to management.
  • Resolve underwriting issues and propose counter offers as necessary.
  • Manage workload to meet productivity levels and established deadlines.
  • Provide training to mortgage processors and assist in raising underwriting standards.

Benefits

  • Eligible for a hybrid work schedule with 3 days in-office and 2 days remote based on business needs.
  • Opportunities for professional training and development.
  • Access to ongoing compliance training and resources.
  • Collaborative work environment with cross-departmental support.
Full Job Description
Summary:Underwrites the most complex residential first mortgage loans including FHA, Correspondents, and Bank originated loans to determine borrower's willingness and ability to repay mortgage debt. Reviews loan files for completeness and compliance with Columbia Bank policies and procedures, Secondary Market guidelines, Federal Housing Administration, Federal regulations and any State law or regulation that may be applicable. Approve residential first mortgage loans and consumer mortgage loans within lending authority. Underwrites loans exceeding lending authority and recommends for approval or denial. Review Federal disclosures to ensure accuracy and compliance with TRID and any State regulation that may be applicable. Reviews and approves commitment conditions and clear file to close. Provide training and guidance to mortgage processors and newly hired underwriters. Work closely with Account Executives to assist them in qualifying complex loans. Assist in the development and implementation of underwriting standards.

Job Responsibilities:

Underwriting

  • Underwrites first mortgage loans, including FHA, Correspondents and Bank originated loans, as well as consumer loans to determine accuracy of the supporting documents in the file along with compliance of Bank, Secondary Market and HUD guidelines.
  • Evaluate and analyze all income types to establish qualifying income and complete income calculation worksheets. Checks accuracy of all calculations related to the loan file and verify system data integrity. Review credit reports and establish borrower(s) credit worthiness. Reviews appraisal report for accuracy and compliance. Verify assets and all other underwriting related documentation.
  • Reviews and interprets DU/LP/FHA Total Score Card. Resubmits data to automated systems as applicable
  • Responsible for granting initial and final approval for all loans within assigned lending authority. Underwrites loans exceeding lending authority and recommends for approval or denial to management
  • Resolve any problems that may occur and provide counter offers where applicable.
  • Maintain productivity level and turn times as established by management. Prioritizes the underwriting caseload to meet various deadlines for lock expirations and contract contingencies.


Teamwork and training

  • Works closely with Account Executives to assist them in qualifying complex loan requests.
  • Work closely with the processing team to help ensure accurate submissions and completion of submitted files.
  • Provides training and guidance to mortgage processors and newly hired underwriters.
  • Assists managers with the development and implementation of underwriting standards. Answers and research general underwriting scenario and guideline questions.


Compliance

  • Maintains a current knowledge of Columbia Bank's policies and procedures.
  • Keeps informed of current Secondary Market guidelines, Agency guidelines, and all Federal and State law or regulations that may be applicable.
  • Complete all required Bank compliance training classes within expected completion dates.


Other

  • Performs other job related duties as may be assigned.


Required Qualifications:

  • Minimum 10 years of mortgage underwriting experience.


  • Solid understanding of Freddie Mac and HUD rules and guidelines.

  • Proficient in automated underwriting systems, including LP.

Preferred Qualifications:

  • Able to deal effectively with, and provide good service to, our customers and all levels of Bank personnel.


  • FHA DE (CHUMS) preferred.
  • A college degree is preferred.

  • Creative problem solver with an understanding of compliance requirements.

Core Competencies/Skills:

  • Strong and accurate computer skills, including Word, Excel and Encompass LOS.

  • Excellent attention to details and strong figure aptitude.
  • Ability to work under pressure and meet deadlines.
  • Strong written and verbal communication skills


Schedule:
  • This role is eligible for a hybrid schedule: 3 days in the office and 2 days work from home, based on business needs. This arrangement may change without notice.

About Columbia Financial, Inc.

Columbia Financial, Inc. is a bank holding company headquartered in Fair Lawn, New Jersey. The company operates as a community bank providing a broad range of banking services to businesses and individuals in its markets. Columbia Financial operates through its wholly-owned subsidiary, Columbia Bank, which has over 60 branches in New Jersey. The bank offers a range of deposit products, including checking accounts, savings accounts, and certificates of deposit, as well as loan products, such as commercial and consumer loans, real estate loans, and agricultural loans. Columbia Financial was founded in 1927 and went public in 2019.
Learn more about Columbia Financial, Inc.
Size
645 employees
Market Cap
$2.3 billion
Industry
Finance & Insurance
Net Income
$57.6 million
5 Year Trend
+9.8%
NASDAQ
CLBK
* Ladders Estimates

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