Senior Mortgage Loan Underwriter at City National Bank Los Angeles, CA 90189
Residential Lending DivisionMake a meaningful difference as a member of City Nationals Residential Lending group.
This is a great opportunity to grow your career with a stable and expanding organization while enhancing and retaining bank client relationships through competitive mortgage products and solutions with exceptional service and care.
WHAT WILL YOU DO?Reviews the loan package received to ensure completeness verifying that all supporting documents are included to make a credit decision per established policiesIdentifies issues and recommends appropriate resolution within policy service level agreementsAnalyzes and determines the financial capacity of the borrowers ability to repay:
Performs credit analysis, financial statement analysis, cash flow analysis, liquidity qualification and payment calculation spreadsReviews for stability of residency and employmentVerifies income per established policyIdentifies any exceptions to current policiesDocuments a reasonable conclusion mitigating any identified risks supporting the request will be repaidAccurately sets and clears conditionsInteracts with RLC and Processor throughout the life cycle of the loan, providing information, updates and assistance as requiredUpdates System(s) with pertinent information and appropriate data as requiredRenders a decision within his/her lending authority.
If deal is outside of lending authority, provides a recommended decision and submits for appropriate level signing authorityOriginates appropriate client letters; Commitment, Counter Offer, DeclinationCertifies and provides a final Workbook to the ProcessorEnsures compliance with bank and statutory/regulatory guidelinesClient SatisfactionPromotes a team environment fostering a positive working environmentFunctions as a collaborator and innovator to drive continuous improvementProvides guidance and support to the RLC and Processor when requiredUtilizes systems and tools to ensure that the RLCs are updated on the status of loansInteracts and communicates daily with all levels as required to support business units, Processors, Funding/Doc Prep to ensure requirements are understood and metProvides timely, complete and accurate response to inquiriesHandles all situations in a professional and ethical mannerTakes the lead in resolving problems for his/her own loans; assisting Underwriters I and II with resolutionsSupports and contributes to the quality and customer satisfaction goals of the bankProductivityEnsures all goals and service level agreements (SLAs) are metTracks, logs and provides daily, weekly, monthly, quarterly reporting of production statistics as defined by managementConsistently meets quality control and data integrity standardsEffectively utilizes available systems, workflow and imaging toolsMentor and train Underwriters I and II2nd level review of Underwriters I and IIs workPerforms other duties as assigned by Management, including participation in projects, process improvement initiatives, etc.
WHAT DO YOU NEED TO SUCCEEDMust-Have Minimum 7 years of experience as an Underwriter in a financial services or mortgage banking environment required.
Minimum 7 years of experience in jumbo and super jumbo underwriting to investor or organizations guidelines requiredMinimum 7 years of experience with state and federal lending regulations (i.
e.
, Ability to Repay (ATR), RESPA, Reg B, Reg O, Reg Z, Fair Lending, etc.
).
Skills and KnowledgeBachelors degree in Business, Finance or Economics or related discipline with 10 or more years of experience in a mortgage banking environment requiredFamiliar with FNMA/FHLMC guidelinesComputer literate with experience using Microsoft applications with mortgage industry standard software, preferably InterLink E3 or NetOxygen/Gallagher.
Superior ability to communicate effectively in both verbal and written formStrong time management skills to plan and organize a high daily loan volumeStrong ability to be very detail orientedMust be a team player and work constructively with their fellow colleaguesSpecific knowledge and exposure to funding and loan documentation to resolve more complex situations such as occur with LLCs, irrevocable trusts, and Co-operatives.
Estimated Salary: $20 to $28 per hour based on qualifications.
This is a great opportunity to grow your career with a stable and expanding organization while enhancing and retaining bank client relationships through competitive mortgage products and solutions with exceptional service and care.
WHAT WILL YOU DO?Reviews the loan package received to ensure completeness verifying that all supporting documents are included to make a credit decision per established policiesIdentifies issues and recommends appropriate resolution within policy service level agreementsAnalyzes and determines the financial capacity of the borrowers ability to repay:
Performs credit analysis, financial statement analysis, cash flow analysis, liquidity qualification and payment calculation spreadsReviews for stability of residency and employmentVerifies income per established policyIdentifies any exceptions to current policiesDocuments a reasonable conclusion mitigating any identified risks supporting the request will be repaidAccurately sets and clears conditionsInteracts with RLC and Processor throughout the life cycle of the loan, providing information, updates and assistance as requiredUpdates System(s) with pertinent information and appropriate data as requiredRenders a decision within his/her lending authority.
If deal is outside of lending authority, provides a recommended decision and submits for appropriate level signing authorityOriginates appropriate client letters; Commitment, Counter Offer, DeclinationCertifies and provides a final Workbook to the ProcessorEnsures compliance with bank and statutory/regulatory guidelinesClient SatisfactionPromotes a team environment fostering a positive working environmentFunctions as a collaborator and innovator to drive continuous improvementProvides guidance and support to the RLC and Processor when requiredUtilizes systems and tools to ensure that the RLCs are updated on the status of loansInteracts and communicates daily with all levels as required to support business units, Processors, Funding/Doc Prep to ensure requirements are understood and metProvides timely, complete and accurate response to inquiriesHandles all situations in a professional and ethical mannerTakes the lead in resolving problems for his/her own loans; assisting Underwriters I and II with resolutionsSupports and contributes to the quality and customer satisfaction goals of the bankProductivityEnsures all goals and service level agreements (SLAs) are metTracks, logs and provides daily, weekly, monthly, quarterly reporting of production statistics as defined by managementConsistently meets quality control and data integrity standardsEffectively utilizes available systems, workflow and imaging toolsMentor and train Underwriters I and II2nd level review of Underwriters I and IIs workPerforms other duties as assigned by Management, including participation in projects, process improvement initiatives, etc.
WHAT DO YOU NEED TO SUCCEEDMust-Have Minimum 7 years of experience as an Underwriter in a financial services or mortgage banking environment required.
Minimum 7 years of experience in jumbo and super jumbo underwriting to investor or organizations guidelines requiredMinimum 7 years of experience with state and federal lending regulations (i.
e.
, Ability to Repay (ATR), RESPA, Reg B, Reg O, Reg Z, Fair Lending, etc.
).
Skills and KnowledgeBachelors degree in Business, Finance or Economics or related discipline with 10 or more years of experience in a mortgage banking environment requiredFamiliar with FNMA/FHLMC guidelinesComputer literate with experience using Microsoft applications with mortgage industry standard software, preferably InterLink E3 or NetOxygen/Gallagher.
Superior ability to communicate effectively in both verbal and written formStrong time management skills to plan and organize a high daily loan volumeStrong ability to be very detail orientedMust be a team player and work constructively with their fellow colleaguesSpecific knowledge and exposure to funding and loan documentation to resolve more complex situations such as occur with LLCs, irrevocable trusts, and Co-operatives.
Estimated Salary: $20 to $28 per hour based on qualifications.
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