26 days ago
Los Angeles, CA
Residential Lending Division
Make 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 policies
Identifies issues and recommends appropriate resolution within policy service level agreements
Analyzes 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 spreads
Reviews for stability of residency and employment
Verifies income per established policy
Identifies any exceptions to current policies
Documents a reasonable conclusion mitigating any identified risks supporting the request will be repaid
Accurately sets and clears conditions
Interacts with RLC and Processor throughout the life cycle of the loan, providing information, updates and assistance as required
Updates System(s) with pertinent information and appropriate data as required
Renders a decision within his/her lending authority. If deal is outside of lending authority, provides a recommended decision and submits for appropriate level signing authority
Originates appropriate client letters; Commitment, Counter Offer, Declination
Certifies and provides a final Workbook to the Processor
Ensures compliance with bank and statutory/regulatory guidelines
Promotes a team environment fostering a positive working environment
Functions as a collaborator and innovator to drive continuous improvement
Provides guidance and support to the RLC and Processor when required
Utilizes systems and tools to ensure that the RLCs are updated on the status of loans
Interacts and communicates daily with all levels as required to support business units, Processors, Funding/Doc Prep to ensure requirements are understood and met
Provides timely, complete and accurate response to inquiries
Handles all situations in a professional and ethical manner
Takes the lead in resolving problems for his/her own loans; assisting Underwriters I and II with resolutions
Supports and contributes to the quality and customer satisfaction goals of the bank
Ensures all goals and service level agreements (SLAs) are met
Tracks, logs and provides daily, weekly, monthly, quarterly reporting of production statistics as defined by management
Consistently meets quality control and data integrity standards
Effectively utilizes available systems, workflow and imaging tools
Mentor and train Underwriters I and II
2nd level review of Underwriters I and IIs work
Performs other duties as assigned by Management, including participation in projects, process improvement initiatives, etc.
WHAT DO YOU NEED TO SUCCEED
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 required
Minimum 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 Knowledge
Bachelors degree in Business, Finance or Economics or related discipline with 10 or more years of experience in a mortgage banking environment required
Familiar with FNMA/FHLMC guidelines
Computer 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 form
Strong time management skills to plan and organize a high daily loan volume
Strong ability to be very detail oriented
Must be a team player and work constructively with their fellow colleagues
Specific knowledge and exposure to funding and loan documentation to resolve more complex situations such as occur with LLCs, irrevocable trusts, and Co-operatives