Mortgage Underwriter - Team Lead - San Ramon, CA
United States-California-San Ramon
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 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 in a Lead capacity.
Essential Job Functions
1. Utilizes Fannie Mae’s Desktop Underwriter to determine loan eligibility for sale to Fannie Mae.
2. Ensures all file documentation requirements are met for Fannie Mae eligible loans.
3. 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.
4. Provides written letters of commitment for each loan decision detailing required documentation, loan interest rate, as well as the fees and mortgage amount approved.
5. Works with the loan originators and processors to create solutions for problems that arise during processing.
6. Identify common errors and report via comment 60 in loan origination system- UNIFI which compiles data for trainers and Regional and Area Sales Managers.
7. Secures relevant information and documentation needed to render lending decisions on SIDs, PUDs, and Condominium Associations Seeks formal legal opinions if needed.
8. Reviews and corrects potential problems in loan processing files (credit history, nonconforming appraisals, files not adhering to guidelines, etc.).
Required Education or Equivalent Experience
- High School Diploma or GED required
- Bachelor’s Degree in Bachelor’s degree in Business Administration or related area or equivalent combination of education and experience.
Six to seven years of experience in the banking/financial industry.
Five to six years of experience in conventional mortgage credit processing and underwriting. Three years of actual appraisal experience or formalized training from Institute classes (MAI) Society of Real Estate appraisals and/or MBA classes and/or OTJ underwriting.
Administrative/Technical Skills/ Other Information
- 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.
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.