POSITION SUMMARY:- Perform in-depth underwriting review of residential mortgage loan applications for compliance with applicable State and Federal laws, adherence to specific lender guidelines to support mortgage productions and quality control.
- Ensure familiarity and compliance with the Bank's policies and procedures and governing laws and regulations.
- Hybrid work schedule. Must be able to commute to Monterey Park, CA office.
ESSENTIAL FUNCTIONS:Review: (60%)- Examine loan documentation for accuracy and completeness.
- Analyze all required information and underwrite all portfolio and secondary market mortgage loan applications for conditional and final approval.
- Communicate corporate and investor guidelines and respond to loan processors, loan closers, and mortgage loan officers (MLOs) in a timely and professional manner.
Knowledge: (25%)- Handle underwriting, quality control plans and reviews, data delivery and appraisal reviews.
- Underwrite residential mortgage loan applications in compliance with federal, state regulations and laws and secondary market guidelines.
- Maintain a sound knowledge of all regulatory compliance requirements, secondary market activity, practices, and business/industry practices as they impact underwriting quality and origination activity.
General (15%)- Familiarize and comply with all applicable Bank's policies and procedures as well as governing laws and regulations
- Performing all assigned duties under Bank's compliance programs and related laws & regulations.
- Successfully completing all mandatory training on related Bank's and BSA compliances as well as other laws and regulations as assigned in a timely manner.
OTHER RESPONSIBILITIES:- Train new underwriters as well as other team members such as loan processors and loan closers.
- Train and advise MLOs to enhance the credit quality of the bank's portfolio.
- Perform timely response to all Audit and Examination findings.
- Perform other duties as assigned.
EDUCATION, EXPERIENCE AND SKILLS REQUIRED:- Bachelor's degree in Finance, Business Administration, Accounting, or other relevant Business fields is preferred.
- Minimum of 3-5+ years of recent mortgage underwriting experience (conventional and non-QM loans).
- Mortgage underwriting experience in retail environment.
- Familiar with Desktop Underwriter and Condo Project Manager.
- Working knowledge of credit, finance, lending procedures and legal and audit regulations.
- Analytic, quantitative, interpersonal, verbal and written communication, and PC skills.
- Must be a demonstrated team player.
PHYSICAL DEMANDS:- Minimum mobility to work in an office setting; sit for prolonged period of times; operate office equipment including use of a computer keyboard; and reach with hands and arms. Employees are occasionally required to walk and stand and lift and move records and documents weighing 30 pounds or less.
COMMUNICATION DEMANDS:- Attention to detail, strong organizational, communication, interpersonal, self-motivated, and analytical skills, ability to interact with all levels of management and staff.
WORK ENVIRONMENT:- Standard office environment. Noise level in work environment is usually average. Hear in the normal audio range with or without correction. Specific vision abilities required by this job include close vision and the ability to adjust focus.
CompensationThe base pay range for this position is USD $70,000.00/Yr. - USD $95,000.00/Yr plus full benefits. Exact offer will be determined based on job-related knowledge, skills, experience, and location.
