Position Title: Mortgage Underwriting Manager

Department: Mortgage

Work Arrangement: Hybrid

We are guided by our IDEA principles – Inclusion, Diversity, Equity, and Accessibility – to support a workforce that reflects our community. Our principles support Greylock’s mission and our goals of building a diverse workforce – reflecting multiple identities – and supporting the diverse communities we serve. We strive to ensure that the spaces in which we work and community members we engage are inclusive.

Under the direction of the AVP, Residential Lending, originates and underwrites loan products for the Credit Union in conformance with established Credit Union policies, strategies and procedures.

To be employed by Greylock Federal Credit Union employees must reside in one of the following states: Massachusetts, New York, Vermont, or Connecticut.

This position requires registration as a Mortgage Loan Originator (MLO) with the Nationwide Mortgage Licensing System (NMLS) and Registry on an annual basis in addition to maintaining updates as needed. Initial registration is required immediately upon hire into this position.

Key Job Requirements:

1. Performs any functions, within scope of authority and expertise to provide the highest level of service and responsiveness to the members served by the Credit Union while performing all duties in accordance with prescribed regulatory compliance guidelines and Credit Union policies and procedures.

1. Manage, coach and develop a team of underwriters. Conduct performance reviews to monitor employee development and goals. Set and enforce underwriting guidelines and procedures. Review complex or high-risk scenarios and for decisioning recommendations.
2. Underwrite the entire portfolio of assigned loans to meet sales and service goals. Provides quality member service throughout the loan process. Perform mortgage credit analysis, with or without the assistance of an automated underwriting system to determine borrower’s willingness and ability to repay the mortgage debt. Appraisal review to ensure the value is supported and that the appraiser has provided a complete accurate appraisal report.

1. Thoroughly documents loan decisions and/or exceptions. Follows up on documentation and adherence to Loan Policies and Procedures. Responsible for the quality and completion of loan files as they relate to job description. Make loan decisions within assigned limits and make recommendations for approval of loans in excess of individual lending authority.

1. Responsible for monthly secondary market and annual underwriting audits which includes cooperating with third party auditors in the possible review, discussion and resolution of audit findings.
2. Strong comprehension of Secondary Market and Mortgage Insurance guidelines. Run, review and interpret DU when applicable. Order and review MI based on loan program. Ensure that the system of record matches MI certificate. Re-underwrite loans when additional information has been received
3. Responsible for committing and selling mortgage loans to the secondary market, ensuring timely execution and adherence to investor guidelines.
4. Communicates effectively and engages proactively with loan originators, processors, branch managers, funders and post-closers in regard to loan decisions, assignment of loan conditions, investor guidelines/documentation requirements and possible loan scenarios.
5. Responsible for securing annual grant funding and local municipal grants, as available. Oversees the allocation and utilization of funds to ensure full capacity is achieved. Manages relationships with third-party lending partners, may be responsible for implementing relationships with new investors or state housing agencies.

1. Reviews processes to generate business and ways to render support between the various Credit Union departments. Helps develop short and long-term goals. May be asked to second sign loan decisions for lower-level authority loan officers. May originate loans as needed.

1. Assists in collection effort to ensure that delinquency percentages and loss ratios meet the goals of the credit union

Related Responsibilities:

1. Promotes the Credit Union wherever and whenever possible. Encouraged to actively represent the Credit Union in local civic, community and professional organizations

Position Requirements:

• FHA Direct Endorsement (DE) certified (preferred)
• Associate's degree or its equivalent through specialized course work and training.
• Five plus years mortgage underwriting experience.
• Three plus years supervisory experience.
• Good working knowledge of the various Credit Union consumer loan products, services and underwriting requirements, residential lending and Secondary Market requirements.
• Excellent communication and organizational skills.
• Must be able to evaluate and analyze complex income tax returns to establish qualifying income.
• Valid driver’s license.
• Able to use various types of office software, spread sheet applications and PC proficient in Microsoft Office Suite.
• FHA Direct Endorsement (DE) certified

Supervisory Scope:

3 direct reports

Lending Authority: As approved by the Board of Directors.

The salary range for this role is $66,754.00 to $90,125.00. This is the salary range we in good faith believe we would pay for this role at the time of this posting. We may pay more than the posted range for exceptionally qualified individuals. An employee’s pay position within the pay band will be based on several factors including, but not limited to, relevant education, qualifications, certifications, experience (job and life), skills (specific and transferable), seniority, performance, and business organizational needs. This range may also be modified in the future.

Service and stability: With a history going back to the 1930s, Greylock has served and grown within the Berkshire County community for almost a century, building deep roots in the area and the lives of the members we serve. Now serving over 100,000 members, Greylock is committed to building a team that loves to put others first.

Opportunities to grow: We offer clear career pathways, ongoing training and upskilling, and a supportive culture that invests in your success. Here, your work is purposeful, values-driven, and makes a real impact in our community.

Benefits that work: Where's a great place to work and grow your career with a competitive benefits package to complement it? Greylock’s health benefits, independently benchmarked, are largely market leading. We strive to offer a comprehensive package of value including a suite of health options (2 medical plan options, FSA Medical/Dependent Care, HSA/HRA, dental, vision, wellness), retirement- 401k plans with employer match & employer pension contributions, PTO, employee incentive plans, and an opportunity for profit sharing. We round out the package with employer paid life insurance along with both short- and long-term disability. To meet your individual needs additional life, accident, and critical illness benefits may be elected. We continue to engage with employee feedback and augment our offerings, recently adding pet insurance, and Medicare employee assistance to name a couple.