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Loan Underwriter

Location: Santa Rosa, CA
Type: Full-Time, Direct Hire

Our client is looking for a Loan Underwriter to join their time immediately.

Summary:

Ensures thorough and accurate analysis of loan applications and all related documentation; prepares and presents loan approval recommendations; monitors loans in process to ensure timely completion and effective communications to all parties involved.

Essential Duties and Responsibilities

  • Maintain a thorough working knowledge of LBSí lending policies, procedures, underwriting guidelines, rate pricing, and requirements for packaging of loans.
  • Review loan application packages submitted by loan officers for completeness and conformity to LBS lending programs. Determine additional information and documentation required to complete underwriting.
  • Liaison with loan officers, mortgage brokers, title companies, credit reporting agencies, appraisers, and other third parties to communicate needs and requirements.
  • Examine loan file documentation to determine acceptability of borrowers credit histories, adequacy of liquid assets and financial capacity in relation to loan requests.
  • Analyze tax returns and financial statements to determine ongoing cash flow to support loan repayment.
  • Review preliminary title reports, purchase agreements, environmental reports, property inspections reports, appraisal reports, and related documentation for acceptability.
  • Prepare loan approval recommendations and present for Loan Committee Approval.
  • Issue denials or counteroffers to applications not meeting LBS approval criteria.
  • Prepare commitment letters and communicate approval requirements and conditions to borrowers and brokers; follow-up for required conditions and review for approval.
  • Adheres to all applicable compliance regulations, including BSA, BPA and Right to Financial Privacy.
  • Demonstrates a commitment to fair lending.
  • Other duties as may be assigned.

Competencies

  • Ability to retain confidential information and display a high level of professionalism. Provide timely and courteous service to both internal and external customers.
  • Ability to communicate effectively in both written and verbal forms.
  • Ability to perform correct mathematical calculations and analyses.
  • Ability to organize and prioritize tasks; manage workflow; multi-tasking is essential.
  • Ability to work as a team player; work productively in a fast-paced environment with minimal supervision.
  • Knowledgeable of lending practices and procedures including loan documentation requirements. Familiar with general lending practices within the industry.

Education and/or Experience

  • Two to five years lending experience in a similar capacity; or equivalent combination of education and experience.
  • A background in loan processing is highly desirable.
  • To perform this job successfully, an individual should have knowledge of appropriate software systems and adequate PC proficiency. Extensive experience with applicable compliance laws.