Wealth Underwriter III - Mortgage
United States-Iowa-West Des Moines
What sets Bank of the West apart from other banks is our team members–they embody the optimistic spirit of the West. There is a spirit here that drives us to do more. Our team of more than 10,000 employees is vital to the success of our Bank. They reflect our modern western values—straightforward, entrepreneurial and optimistic. We seek to create a corporate culture that fosters and rewards excellence, encourages creative thinking and respects diversity – an environment where team members are engaged, supportive of one another and enthusiastic about serving our customers. Bank of the West offers the stability of a company that has a 135 year history and is part of BNP Paribas, a European leader in global banking and financial services and one of the 6 strongest banks in the world. We offer opportunities across our diverse business lines – Retail Banking, Commercial Banking, National Finance, and Wealth Management.
Responsible for providing quality and consistent underwriting of highly complex Wealth Management Mortgage Loans and Wealth Management Consumer Direct loans. Responsible for ascertaining the needs of the borrowers and assisting them in selecting the appropriate loan type which best matches their long-term objectives. Ensures compliance with FHLMC/FHA/VA/FNMA guidelines and attains direct endorsement approvals.
Essential Job Functions
1. Ensures sound lending decisions on Wealth Management Mortgage/Consumer direct Loan applications through the review process of analyzing and evaluating income, assets, liabilities, and property, while maintaining designated time frames in accordance with the Bank's Loan Policies.
2. Conducts credit investigations and analyzes all available credit information pertaining to loan decisions.
3. Ensures all information needed to appropriately decision a loan is obtained. Analyzes and evaluates financial statements and related materials to determine repayment ability. Includes reviewing self-employed, corporate and partnership tax returns, profit and loss, as well as financial statement to determine borrower's income available for debt service.
4. Secures relevant information and documentation needed to render lending decisions on SIDs, PUDs, and HOAs. Seeks formal legal opinions if needed.
5. Analyzes applications outside of loan officer's lending limits and routes to appropriate loan personnel for concurrent loan decision.
6. Underwrites highly complex requests from Wealth Management for Purchase Money First Mortgages, Equity Choice, Equity Loan and Secured/Unsecured lines of credit. Communicates lending decisions to the Wealth Management Group and staff.
7. Works with loan originators and processors to create solutions for problems that arise during the processing of a loan application.
Required Education or Equivalent Experience
- High School Diploma or GED required
- Bachelor’s Degree in business administration, finance or accounting
6-7 years experience in banking or finance company underwriting desired, with conventional mortgage, direct consumer loan, small commercial, mortgage and credit card underwriting experience preferred. One year of actual appraisal experience or formalized training from Institute classes (MAI) Society of Real Estate appraisals and/or MBD classes and/or on the job training.
Administrative/Technical Skills/ Other Information
• Comprehensive knowledge of Mortgage/Consumer Direct loan/line products, processing, servicing, and collections
• Comprehensive knowledge of Mortgage/Consumer Direct lending laws and regulations, direct lending practices and applicable consumer lending laws, and banking regulations
• Comprehensive knowledge of automated loan decision software preferred
• Comprehensive knowledge of Mortgage/Consumer Direct/Commercial loan cash flow analysis
• Comprehensive knowledge of Commercial Lending/Wealth Management
The above statements are intended to describe the general nature and level of work being performed. They are not intended to be construed as an exhaustive list of all responsibilities, duties and skills required of personnel so classified.
Bank of the West is an Equal Opportunity employer and proud to provide equal employment opportunity to all job seekers without regard to any status protected by applicable law. Bank of the West is also an Affirmative Action employer - Minority / Female / Disabled / Veteran.
Bank of the West will consider for employment qualified applicants with criminal histories pursuant to the San Francisco Fair Chance Ordinance subject to the requirements of all state and federal laws and regulations.