Mortgage Loan Underwriter II

MORTGAGE LOAN UNDERWRITER II

WHAT IS THE OPPORTUNITY?

The role of the Underwriter II is to evaluate the credit risk against company standards and to determine the borrower's ability to repay a residential mortgage. The Underwriter II analyzes and interprets more complex financial and non-financial data decisioning the requests with the goal of achieving the optimal quality asset for the bank while satisfying the needs of borrower. The Underwriter II is also responsible for LLCs along with other complex borrower types. The Underwriter works within established lending authorities and guidelines, with complex or unusual situations escalated to the next highest authority level for resolution.

What you will 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 borrower's 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

Client Satisfaction

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 RLC's 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

Escalates problems as necessary

Supports and contributes to the quality and customer satisfaction goals of the bank

Productivity

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

Performs other duties as assigned by Management, including participation in projects, process improvement initiatives, etc.

Must-Have *

Bachelor's degree required.

Minimum 5 years of experience as an Underwriter in a financial services or mortgage banking environment required.

Minimum 5 years of experience in jumbo underwriting to investor or organization's guidelines required.

Minimum 5 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

Familiarity with FNMA/FHLMC guidelines.

Computer literate with experience using Microsoft applications with mortgage industry standard software, preferably InterLink E3 or NetOxygen/Gallagher.

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.

General knowledge and exposure to funding and loan documentation is helpful but not required.

Compensation

Starting base salary: $37.96 - $60.64 per hour. Exact compensation may vary based on skills, experience, and location. This job is eligible for bonus and/or commissions.
• To be considered for this position you must meet at least these basic qualifications

The preceding job description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job.

Benefits and Perks

At City National, we strive to be the best at whatever we do, including the benefits and perks we offer our colleagues. Get an inside look at our Benefits and Perks.

INCLUSION AND EQUAL OPPORTUNITY EMPLOYMENT

City National Bank is an equal opportunity employer committed to diversity and inclusion. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status or any other basis protected by law.'

ABOUT CITY NATIONAL

We start with a basic premise: Business is personal. Since day one we've always gone further than the competition to help our clients, colleagues and community flourish. City National Bank was founded in 1954 by entrepreneurs for entrepreneurs and that legacy of integrity, community and unparalleled client relationships continues to drive phenomenal growth today. City National is a subsidiary of Royal Bank of Canada, one of North America's leading diversified financial services companies.