Mortgage Underwriter in Walnut Creek, CA at Volt

Date Posted: 7/27/2021

Job Snapshot

Job Description

Our client in Walnut Creek is looking for a SR. Mortgage Underwriter, this role is 100% in the office.

You will be responsible for underwriting and approving real estate secured consumer loans.

What you will do:

  • Review and approve real estate secured consumer loan applications that are generated internally from the Retail and Institutional Divisions per the underwriting guidelines.
  • Review documentation necessary for the placement of real estate secured consumer loans, including third party reports such as credit, appraisal, title, tax transcripts, income and asset information, bank statements, hazard and flood insurance and special documentation required for loans to self-employed borrowers and special purpose entities, such as Trusts and LLCs.
  • Understand the Banks’ underwriting guidelines for real estate secured consumer loan products.
  • Apply common sense underwriting methods to responsible, safe and sound exceptions lending.
  • Follow underwriting exceptions protocol as defined by the SVP.
  • Adherence to correct and current loan processing procedures, compliance laws and regulations, including, but not limited to, CFPB guidance, Reg Z, Reg B and TRID, relevant portions of the Bank Secrecy Act (BSA), OFAC, USA Patriot Act, Gramm-Leach-Bliley Act and Anti-Money Laundering (AML) guidelines and Fair Lending requirements.
  • Provides regular updates to the Real Estate Consumer Lending Department and the Bank on same, as needed.
  • Is current and able to articulate any relevant compliance regulations, Bank policies and procedures and documentation requirements.
  • Ensures that quality control procedures are maintained in all aspects for the different types of real estate secured consumer lending activities of the Bank.
  • Performs and participates as needed in internal and external audits, compliance and regulatory reviews, as required.
  • Identifies and reports suspicious activity and files PSAR reports as needed.
  • Assists in evaluating and improving hard and soft infrastructure including policies, processes, procedures and technology applications.

Requirements to join our client:

  • Minimum of 3-5 years of real estate secured consumer lending experience in underwriting and processing in a banking and/or portfolio environment in non QM and ability to repay loan originations.
  • Agency experience is helpful, someone who can understand Qualified Mortgage (QM), and appendix Q underwriting guidelines for Jumbo/Portfolio loans.
  • Experience with underwriting with self-employed with more complex financial statements/tax returns. Ability to repay non-QM underwriting,
  • Fannie/FHA/Freddie is important but not required.
  • Encompass LOS is highly preferred.
  • Extensive knowledge of underwriting, processing, closing and funding real estate secured consumer mortgage loans and home equity lines of credit.
  • Ability to understand and interpret credit, title and appraisal reports, and third-party reports such as Compliance Ease and Fraud Guard and other key loan documentation such as tax returns, bank statements, asset statements, tax analysis, and special purpose entity documentation such as Trusts and LLC’s.
  • Minimum of 6 months of HELOC (Home Equity Line of Credit) experience in a banking/portfolio environment.
  • Strong understanding of all relevant consumer loan regulations and credit practices including, but not limited to, Regulation B (ECOA), BB (CRA), C (HMDA) Flood Disaster Protection Act, Real Estate Appraisal regulations and guidelines.
  • Proficiency in all Microsoft Office products, including Excel, MSWord, MS PowerPoint, Adobe Products and an interactive Virtual Desktop Interface (VDI) environment and operating system, Encompass.
  • Must be familiar with analyzing self-employed personal tax returns and using third party software for tax analysis purposes, such as FNMA 1084.
  • Must be able to work overtime as needed.
  • Undergraduate degree in finance and/or accounting preferred.

VOLT is an equal opportunity employer!