Newtown Savings Bank

Mortgage Underwriter II

Newtown, Connecticut
Jul 25, 2017
Sep 23, 2017
Employer Type
Direct Employer
Employment Type
Full Time

Newtown Savings Bank is seeking a knowledgeable, experienced, and motivated Mortgage Underwriter to join our Loan Origination team as a Mortgage Underwriter II. The Underwriter II, under the direction of the AVP Underwriting Manager, is responsible for the completion of files for underwriting, adhering to all investor and portfolio guidelines, and the generation of approvals on residential mortgage and home equity products.



  • Underwriters are required to complete underwriting of a daily list of loans generated by the Mortgage Underwriting Manager, meeting investor expiration dates and adhering to all compliance and investor regulations. An emphasis on quality of production is placed on all files while meeting management’s expectations of volume. The underwriter should always approve loans, placing an emphasis on the bank’s interest, while also balancing the needs and expectations of our customer’s, as we are a local community bank.

  • The underwriter’s duties include calculating debt to income ratios based on the client’s credit and income analysis, documenting sufficient assets for closing, review of the appraisal and verify all secondary market guidelines are met.

  • Export data from the origination system into FNMA’s Desktop Underwriter, Freddie’s Loan Prospector or other Investor’s automated underwriting system; if applicable. Ensure all data integrity on the 1003/1008 and automated system is accurate.

  • Review the automated findings report and verify all approval conditions and/or products guidelines of the investor are satisfied.

  • Review underwriting conditions and clear in the appropriate LOS. Communicate the final approval to the processor in a timely manner.

  • Request additional approvals for mortgage insurance loans.

  • Decision loans within the appropriate approval level, or review completed loans and make decision recommendations for management approval(s). 

  • Adhere to state and federal laws governing real estate lending transactions.

  • Present recommendations and solutions to management on all loan files that are Ineligible/or do not meet Secondary Market guidelines.

  • Prepare counter offers and adverse actions on all mortgage and home equity files as needed.

  • Underwrite simultaneous home equity product; if applicable.

  • Using the clear to close check list, review and verify the mortgage and home equity commitment letters prior to moving the loan file to the Closing Department.

  • Has the ability to meet an additional goal chosen by the candidate on a quarterly basis.

  • Efficiently resolve customer complaints or properly refer them for assistance. A strong emphasis is placed on team work and communication with internal staff and with client’s as we are a local community bank.

  • Promotes the Bank and Bank’s services. Provides prompt and courteous service to all external and internal customers.


  • Bachelor’s degree in a business related field or equivalent.

  • Five years’ experience in the mortgage banking industry.

  • Understanding of mortgage underwriting guidelines, Secondary Market, and mortgage underwriting analysis.

  • FHA/Direct Endorsed Underwriter is preferred, but not a requirement.

  • Knowledge of Government Loans (CHFA, VA).  

  • Must be proficient with LP, DU/DO.

  • Detail Oriented.


To perform this job successfully, the individual must be able to perform each essential duty satisfactorily. The requirements listed above are representative of the knowledge, skill and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Any physical demand or work conditions described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions.


Full time employees also receive a complete benefit package including a generous 401(k), medical benefits, paid time off, and short and long term disability programs.

Newtown Savings Bank is an equal opportunity and affirmative action employer regardless of race, gender, disability status, protected veteran status. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, age, marital status, national origin/ancestry, sexual orientation, gender identity, disability status, protected veteran status, or any other legally protected status.