Responsible for providing quality and consistent underwriting of moderate 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 and 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 make a loan decision is obtained. Analyzes and evaluates financial statements and related materials to determine cash flow based repayment ability. Includes reviewing self-employed, corporate and partnership tax returns, profit and loss, as well as financial statement to determine borrower's cash flow 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 (Team Lead, Production Manager, etc.) for concurrent loan decision.
6. Underwrites 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
• Bachelor’s Degree in business administration, finance, accounting required
• 1 – 3 years’ experience in banking or finance company underwriting experience 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 MBA classes and/or OJT underwriting.
Administrative/Technical Skills/ Other Information
• Good knowledge of Mortgage/Consumer Direct loan/line products, processing, servicing, and collections
• Good knowledge of Mortgage/Consumer Direct lending laws and regulations, direct lending practices and applicable consumer lending laws, and banking regulations
• Good knowledge of automated loan decision software preferred
• Good knowledge of Mortgage/Consumer Direct/Commercial loan cash flow analysis
• Good knowledge of Commercial Lending/Wealth Management
• Not Applicable
Bank of the West - 19 months ago
What is now Bank of the West has expanded over 130 years from the California frontier to its current position. The bank now serves nearly 4...