Underwriter

RIHousing – Underwriter

Salary - $75,222.00 - $105,310.00

This pay range represents the base annual full-time salary for all positions within this job grade. The actual salary offered will depend on factors such as experience and other job-related qualifications.

What We Are All About

We are seeking a dynamic professional to serve as an Underwriter in our Homeownership Department. This position is responsible for ensuring that all loans originated through the Homeownership Division comply with federal and state regulations, IRS requirements, RIHousing program standards, and investor guidelines by conducting thorough reviews of qualifying income, appraisals, credit reports, and loan application documentation.

This is a hybrid position based in Providence, Rhode Island, where you will be an integral part of our Homeownership team. The role is designed for face-to-face collaboration and direct involvement in our office environment.

What You'll Do Daily:

• Performs the underwriting function for the Residential Lending Department to ensure all loan decisions comply with IRS rules, federal and state regulations, program requirements, and FHA, VA, RD, FHLMC, and FNMA guidelines.
• Conducts detailed analysis to determine borrower creditworthiness, employment and income stability, and ability to repay.
• Reviews verified financial information to assess income, assets, liabilities, and net worth relative to proposed mortgage payments.
• Evaluates property appraisals to confirm that collateral provides sufficient security.
• Confirms borrower eligibility for RIHousing program requirements (e.g., income limits, minimum down payment).
• Makes final decisions to approve, deny, or suspend loan applications.
• Reviews community lending loans to ensure compliance with program requirements prior to closing.
• Verifies accuracy of loan data entered into the loan origination system and generates required documentation based on application status.
• Maintains and reviews the loan pipeline report to ensure targeted timeframes and service standards are met.
• Works closely with sales staff, Loan Center staff, lenders, real estate agents, realtors, and appraisers regarding program requirements and underwriting criteria.

How You Will Make an Impact:

• Strengthen loan quality by applying sound judgment in evaluating collateral, credit, income, and employment to ensure loan decisions meet IRS rules, federal/state regulations, program requirements, and FHA, VA, RD, FHLMC, and FNMA guidelines.
• Ensure responsible lending by making well-supported decisions to approve, reject, or suspend loan applications.
• Support successful loan origination by partnering with the sales team to review loan scenarios, resolve challenges, and guide files toward approval when possible.
• Expand access to specialized programs by underwriting ancillary loan products such as Clean Water and other mission-driven initiatives.
• Educate homebuyers by serving as a facilitator for RIHousing's homebuyer education classes, helping borrowers prepare for sustainable homeownership.
• Build internal expertise by providing periodic training to sales staff, loan processors, and lenders on underwriting standards and program requirements.
• Advance organizational initiatives by contributing to special projects and research efforts as assigned.

What Success Looks Like in This Position:

• Minimum five years of experience in underwriting residential mortgage loans
• Working knowledge of FHLMC, FNMA, FHA, RD, and VA
• Excellent verbal and written communication skills
• Strong analytical, computer, problem-solving, and organizational skills
• Bachelor's degree in business administration, real estate, or related field
• FHA direct endorsement designation, preferred

Not sure if you meet all the qualifications? Let us decide!

Why RIHousing:

• Mission-Driven Organization
• Dedicated Workforce
• Parking Stipend
• Medical/Dental/Vision/Life Insurance
• Paid Time Off
• Retirement Options
• Flexible Work Hours
• If Position Eligible, Future Hybrid Work May Be Available
• Education Reimbursement
• Onsite Fitness Classes
• Volunteer Days
• Winner of "Best Places to Work" 2016, 2018, 2019, 2021 – 2026
• Greater Providence Chamber of Commerce Worksite Health Award 2013 – 2025
• PBN's Healthiest Employers of RI 2025

About RIHousing:

RIHousing works to ensure that all people who live in Rhode Island can afford a healthy, attractive home that meets their needs. RIHousing provides loans, grants, education, and assistance to help Rhode Islanders find, rent, buy, build, and keep a good home. Created by the General Assembly in 1973, RIHousing is a self-sustaining corporation and receives no state funding for operations.