MORTGAGE LOAN UNDERWRITER SENIOR

 

WHAT IS THE OPPORTUNITY?The role of the Underwriter III is to evaluate the credit risk against company standards and to determine the borrower's ability to repay a residential mortgage. The Underwriter III analyzes and interprets the most 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 III is also responsible for LLCs along with other complex borrower types. The Underwriter III works within established lending authorities and guidelines, with complex or unusual situations escalated to the next highest authority level for resolution. This includes mentoring and training of Underwriters I and II including second level reviews.

 

WHAT WILL YOU DO?Reviews the loan package received to ensure completeness verifying that all supporting documents are included to make a credit decision per established policiesIdentifies issues and recommends appropriate resolution within policy service level agreementsAnalyzes 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 spreadsReviews for stability of residency and employmentVerifies income per established policyIdentifies any exceptions to current policiesDocuments a reasonable conclusion mitigating any identified risks supporting the request will be repaidAccurately sets and clears conditionsInteracts with RLC and Processor throughout the life cycle of the loan, providing information, updates and assistance as requiredUpdates System(s) with pertinent information and appropriate data as requiredRenders a decision within his/her lending authority. If deal is outside of lending authority, provides a recommended decision and submits for appropriate level signing authorityOriginates appropriate client letters; Commitment, Counter Offer, DeclinationCertifies and provides a final Workbook to the ProcessorEnsures compliance with bank and statutory/regulatory guidelinesClient SatisfactionPromotes a team environment fostering a positive working environmentFunctions as a collaborator and innovator to drive continuous improvementProvides guidance and support to the RLC and Processor when requiredUtilizes systems and tools to ensure that the RLC’s are updated on the status of loansInteracts and communicates daily with all levels as required to support business units, Processors, Funding/Doc Prep to ensure requirements are understood and metProvides timely, complete and accurate response to inquiriesHandles all situations in a professional and ethical mannerTakes the lead in resolving problems for his/her own loans; assisting Underwriters I and II with resolutionsSupports and contributes to the quality and customer satisfaction goals of the bankProductivityEnsures all goals and service level agreements (SLAs) are metTracks, logs and provides daily, weekly, monthly, quarterly reporting of production statistics as defined by managementConsistently meets quality control and data integrity standardsEffectively utilizes available systems, workflow and imaging toolsMentor and train Underwriters I and II2nd level review of Underwriters I and IIs’ workPerforms other duties as assigned by Management, including participation in projects, process improvement initiatives, etc.

 

WHAT DO YOU NEED TO SUCCEED?Required Qualifications*Minimum 7 years of experience as an Underwriter in a financial services or mortgage banking environment required.Minimum 7 years of experience in jumbo and super jumbo underwriting to investor or organization’s guidelines requiredMinimum 7 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.). Additional QualificationsBachelor’s degree in Business, Finance or Economics or related discipline with 10 or more years of experience in a mortgage banking environment requiredFamiliar with FNMA/FHLMC guidelinesComputer literate with experience using Microsoft applications with mortgage industry standard software, preferably InterLink E3 or NetOxygen/Gallagher.Superior ability to communicate effectively in both verbal and written formStrong time management skills to plan and organize a high daily loan volumeStrong ability to be very detail orientedMust be a team player and work constructively with their fellow colleaguesSpecific knowledge and exposure to funding and loan documentation to resolve more complex situations such as occur with LLC’s, irrevocable trusts, and Co-operatives
WHAT'S IN IT FOR YOU?CompensationStarting base salary: $41.83 - $66.81 per hour. Exact compensation may vary based on skills, experience, and location. This job is eligible for bonus and/or commissions.
Benefits and PerksAt City National, we strive to be the best at whatever we do, including the benefits and perks we offer our colleagues including:Comprehensive healthcare coverage, including Medical, Dental and Vision plans, available the first of the month following start dateGenerous 401(k) company matching contributionCareer Development through Tuition Reimbursement and other internal upskilling and training resourcesValued Time Away benefits including vacation, sick and volunteer timeSpecialized health and family planning benefits including fertility benefits, and cancer, diabetes and musculoskeletal support programsCareer Mobility support from a dedicated recruitment teamColleague Resource Groups to support networking and community engagement Get a more detailed look at our Benefits and Perks.
ABOUT USSince day one we've always gone further than the competition to help our clients, colleagues and communities flourish. City National Bank was founded in 1954 by entrepreneurs for entrepreneurs and that legacy of integrity, community and unparalleled client relationships continues today. City National is a subsidiary of Royal Bank of Canada, one of North America’s leading diversified financial services companies. To learn more about City National and our dynamic company culture, visit us at About Us.
INCLUSION AND EQUAL OPPORTUNITY EMPLOYMENTCity National Bank fosters an inclusive environment where all forms of diversity are valued and leveraged to make us a better company and employer. We are an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, sexual orientation, gender identity, national origin, disability, veteran status or other basis protected by law.

It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.

*Represents basic qualifications for the position. To be considered for this position, you must at least meet the required qualifications. careers.cnb.com accepts applications on an ongoing basis, until filled.  Unless otherwise indicated as fully remote, reporting into a designated City National location is an essential function of the job.