Senior Loan Processor/Junior Underwriter

OVERVIEW:

The Loan Processor / Junior Underwriter is responsible for supporting all aspects of the residential mortgage loan process from application through closing. This role serves as a key liaison between Loan Officers, borrowers, processors, underwriters, and closing staff to ensure loan files are complete, accurate, and compliant with company and investor guidelines. The individual will provide processing support, assist with preliminary underwriting reviews, prepare initial disclosures, and serve as a backup resource for both Processing and Underwriting teams.

ESSENTIAL FUNCTIONS:

Reasonable accommodations may be made to enable individuals with disabilities to perform these essential functions.

Loan Processing Responsibilities

• Review new loan applications for completeness and accuracy.
• Collect, organize, and validate borrower documentation, including income, asset, credit, and collateral information.
• Obtain and review third-party services such as appraisals, title work, flood certifications, and verifications.
• Communicate with borrowers, loan officers, attorneys, realtors, and other third parties to resolve outstanding conditions.
• Track loan milestones and ensure timely movement of files through the mortgage process.
• Prepare and issue initial Loan Estimates (LEs) and required re-disclosures in compliance with regulatory requirements within applicable timeframes.
• Maintain accurate loan documentation and system records throughout the loan lifecycle.
• Monitor pipeline activity and proactively follow up on outstanding items.

Junior Underwriting Responsibilities

• Perform preliminary underwriting reviews of loan files to determine completeness and investor eligibility.
• Analyze income, assets, liabilities, credit reports, and supporting documentation.
• Review loan files for compliance with agency, investor, and company guidelines.
• Prepare and send Notices of Incomplete (NOIs) following the initial underwriting review, as applicable.
• Assist underwriters by preparing files for final underwriting review and decisioning.
• Review and clear routine underwriting conditions under delegated authority, as permitted.
• Maintain compliance logs, conversation logs, and critical deadline tracking.
• Prepare and distribute commitment letters to borrowers through the appropriate delivery method and provide copies to attorneys and loan officers.
• Assist in ensuring all pre-closing conditions are satisfied prior to closing.
• Perform Verifications of Employment
• Coordinate with the Closing Department to ensure all closing-related deadlines are met.

Team Support & Cross-Training

• Serve as backup support for Loan Processors during periods of high volume, employee absences, or staffing shortages.
• Serve as backup support for Underwriters by assisting with file preparation, condition review, and documentation analysis.
• Participate in ongoing training related to underwriting guidelines, compliance requirements, and lending products.
• Support special projects and departmental initiatives as assigned.

SUPERVISORY RESPONSIBILITIES:

None

WORK ENVIRONMENT:

Typical office environment. The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

PHYSICAL DEMANDS:

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

While performing the duties of this job, the employee is regularly required to use hands to finger, handle, or feel; reach with hands and arms; and talk or hear. The employee is generally required to stand and walk. The employee must occasionally lift and/or move up to 25 pounds. Specific vision abilities required by this job include close vision, distance vision, color vision, peripheral vision, depth perception, and ability to adjust focus.

REQUIRED KNOWLEDGE, SKILLS AND/OR ABILITIES:

• High School diploma or equivalent
• Banking certifications and/or Associate/Bachelor’s degree a plus.
• Minimum of 1-3 years of residential lending processing or banking experience preferred.
• Accuracy and attention to detail.
• Excellent communication, planning, time management, problem solving, and organization skills.
• Ability to effectively make decisions.
• Ability to work well independently and as part of a team.
• Strong knowledge of secondary market requirements and FHLMC loans.
• LOS experience (Encompass preferred), construction lending knowledge, familiarity with COCC Insight and MHP One Mortgage are all a plus however not required.

Winchester Co-operative Bank provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state or local laws.

Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities and activities may change at any time with or without notice.