Mortgage Loan Underwriter Senior

Mortgage Loan Underwriter SeniorThe 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 You Will 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 IISecond level review of Underwriters I and IIs' workPerforms other duties as assigned by Management, including participation in projects, process improvement initiatives, etc.Must-Have: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.)Skills and Knowledge:Bachelor'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/GallagherSuperior 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-operativesCompensation:Starting 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.To be considered for this position you must meet at least these basic qualifications.The preceding job description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job.Benefits and Perks:At City National, we strive to be the best at whatever we do, including the benefits and perks we offer our colleagues.About City National:City National Bank, a subsidiary of Royal Bank of Canada, is the largest bank headquartered in Los Angeles with $92.03 billion in assets as of April 30, 2024. Founded in 1954, City National provides personalized banking, investment and trust services in select markets including Los Angeles, Orange County, San Diego, the San Francisco Bay Area, New York City, Nashville, Atlanta, Delaware, Las Vegas, Washington D.C. and Miami.In addition, the company and its investment affiliates manage or administer $96.83 billion in client investment assets. City National is dedicated to strengthening communities, and in 2023 alone, the company made more than $11 million in charitable contributions to nonprofits that support the communities it serves.City National Bank does business in Miami and the state of Florida as CN Bank. For more information about City National, visit cnb.com.Equal Opportunity Employer & Reasonable Accommodation:City National Bank is an equal opportunity employer committed to promoting and maintaining a diverse, equitable and inclusive working environment where differences are valued and encouraged. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status or any other basis protected by the laws or regulations in the locations where we operate or in our Code of Conduct. If you are a qualified individual with a disability or a disabled veteran, you have the right to request a reasonable accommodation for any part of the employment process. Please contact us via TalentAcquisition@cnb.com or leave a message at (213) 673-9139. These contact methods are dedicated to applicants whose disability prevents them from successfully applying online. Only messages left for this purpose will be returned. Responses may take up to two business days.