Mortgage Underwriting - Team Lead Tempe, AZ
At Bank of the West, our people are having a positive impact on the world. We’re investing where we feel we can make the most impact, like advancing diversity and women entrepreneurship programs, financing for more small businesses, and promoting programs for sustainable energy. From our locations across the U.S., Bank of the West is taking action to help protect the planet, improve people’s lives, and strengthen communities. We are part of BNP Paribas, a global leader supporting the UN Sustainable Development Goals (SDGs). Yes, we’re a bank, but as the bank for a changing world, we are continually seeking to improve the ways we help our customers, while contributing to more sustainable and equitable growth.
Job Description Summary
Responsible for providing quality and consistent underwriting of mortgage loans, focusing on difficult/complex loans, to ensure compliance with appropriate company standards. Responsible for ascertaining the needs of borrowers and assisting them in selecting the appropriate loan type which best matches their long-term objectives, and ensuring compliance with FHLMC/FHA/VA/FNMA guidelines. Also assesses the potential risk of loan applicants, including current and past credit and job history, ensures that all mortgage applications are complete, accurate, and fall within acceptable BOW guidelines, and attains direct endorsement approvals. Provides high quality customer service, including underwriting in a competitive time frame. Provides direction and guidance to other less experienced underwriters.
Essential Job Functions
- Utilizes Fannie Mae's Desktop Underwriter to determine loan eligibility for sale to Fannie Mae.
- Ensures all file documentation requirements are met for Fannie Mae eligible loans.
- Underwrites loan files for designated processing center through a review process of analyzing and evaluating income, assets, liabilities, and property, while maintaining designated time frames as determined by management Assimilates new government regulations and applies this knowledge to improve and maintain quality and consistent underwriting. Reviews self-employed, corporate and partnership tax returns, profit and loss, as well as financial statements to ascertain borrowers' income.
- Provides written letters of commitment for each loan decision detailing required documentation, loan interest rate, as well as the fees and mortgage amount approved.
- Works with the loan originators and processors to create solutions for problems that arise during processing.
- Identify common errors and report via comment 60 in loan origination system- UNIFI which compiles data for trainers and Regional and Area Sales Managers.
- Secures relevant information and documentation needed to render lending decisions on SIDs, PUDs, and Condominium Associations Seeks formal legal opinions if needed.
- Reviews and corrects potential problems in loan processing files (credit history, nonconforming appraisals, files not adhering to guidelines, etc.).
- Performs other duties as assigned.
- Requires advanced knowledge within a specific discipline typically gained through extensive work experience and/or education.
- Requires 7 years minimum experience.
- May require vocational or technical education in addition to prior work experience.
- Bachelor's Degree Business Administration or related area or equivalent combination of education and experience.
- High School Diploma or GED Required
- Complete knowledge of mortgage credit processing and underwriting.
- Complete knowledge of loan documents and real estate terminology, FHLMC/FHA/VA.FNMA guidelines and portfolio lending practices, and State and Federal agency policies and procedures.
- Knowledge of Bank’s lending policies and procedures.
Equal Employment Opportunity Policy
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.