Commercial / Residential Underwriter
Examine and analyze due diligence materials and loan file and provide an underwriting recommendation for credit requests to determine whether a loan represents an acceptable risk to the Bank in light of market, bank policies, and the circumstances of the individual borrower(s). Prepare credit recommendation for approval to appropriate credit authority. Underwrite and verify loan data based on information about assets, employment information, insurance, flood search, fraud alerts, compliance reports, and other pertinent documentation to provide a decision within the required time frame. Review loan files and coordinate follow-up activities with Loan Originator, Processors and Closers. Maintain file from application to closing. Enter and updateloan-related data in the origination system; assemble and verify loan documents for accuracy and authenticity.
- Prepare and evaluate credit requests to determine whether to extend credit to the borrower or borrowing entity, whether originated in house or purchased from third parties.
- Preform due diligence including review of borrower/legal entity, collateral, asset, and employment/income, among other factors.
- Analyze applicant’s financial status, analyze and spread financial statements, as well as perform credit and property evaluation to determine feasibility of extending credit.
- Make underwriting decision and recommendation for each loan, including conditions that must be satisfied to extend credit.
- Process adverse actions including drafting counter offers and citing reasons for decision.
- Stay abreast of underwriting guidelines, enhance underwriting practices and assist in updating underwriting policies and procedures.
- Meet with prospects and customers to perform due diligence, as necessary.
- Analyze and develop loan products to address customer needs.
- Receive and review loan files to ensure there is sufficient documentation to make an informed loan decision, based on product description and standard underwriting guidelines.
- Request required information or documentation from the Processor and/or Loan Originator as needed.
- Thoroughly analyze loan packages, including complex financial statements and personal/ business tax returns to determine compliance with Bank, regulatory and/or investor requirements.
- Prepare loan commitment with a list of pending conditions required prior to final underwriting review.
- Ensure all mortgage loan files are underwritten within level of authority in compliance with secondary market guidelines, specific program guidelines and regulatory requirements.
- May perform duties of a Credit Analyst as required.
- Bachelor’s degree in finance, economics, or accounting.
- Bilingual Chinese/English preferred.
- Three to five years previous lending experience, with at least three years underwriting experience.
- Demonstrated experience with financial statement analysis, cash flow analysis and financial ratiosrequired.
- Knowledge of commercial real estate lending and underwriting policies and procedures, as well as current lending rates on various loan options.
- Broad understanding of all phases of the loan process.
- Knowledge of all federal and state regulations regarding lending and related documents.
- Minimum of two years’ mortgage underwriting experience.
- Solid understanding of secondary market guidelines, such as FNMA
- Knowledge of HMDA data collection and ability to review data during underwriting and final decision.
- Knowledge of loan origination process, operations, products and services.
- Superior analytical and mathematical skills.
- Familiarity with the Encompass Loan Origination System preferred
- Proficiency in underwriting complex financial statements, personal and business tax returns.
- Skill in assessing quality loans purchased and originated by the financial institution.
- High ethics.
- Strong customer service orientation and commitment to providing “WOW!" service to our internal and external customers.
- Strong interpersonal skills, including the ability to interact and work respectfully and cooperatively with others.
- Strong communication skills, including the ability to listen, speak and write clearly and concisely, and focus on the recipient's point of view.
- Commitment to lifelong learning.
- Understanding of and commitment to upholding the bank's mission of helping everyone we touch; vision of being a great place to work and bank; and values of high ethics, care, respect, teamwork, friendship and fun.