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Mortgage Underwriter

3 months ago


Westlake Village, United States Velocity Mortgage Capital Full time

**Mortgage Underwriting**

Velocity Commercial Capital, LLC is a wholly-owned subsidiary of Velocity Financial, Inc, an NYSE-listed public company. Velocity Commercial Capital is a real estate finance company founded in 2004 that primarily originates and manages investor loans secured by 1-4 unit residential rental and small commercial properties. Velocity Mortgage Capital is seeking to hire a full-time Underwriter. This position is located at the corporate offices in Westlake Village, CA.

**Summary of Position**

Under limited supervision, this position is accountable for performing credit analysis and underwriting/ risk management decisions on all loans to ensure compliance with company and regulatory criteria. Achieve optimum performance and efficiency consistent with company policy and governmental regulations. The underwriter must be proficient at analyzing financial data, industry knowledge and existing economic conditions to formulate quantitative and qualitative opinions on the borrower/guarantor, property and the prospective loan structure. The underwriter is responsible for performing diligent and thorough research and analysis which is the basis for approving a sound transaction. Adherence to credit administration procedures and strong credit analysis skills will result in informed credit decisions, a higher quality loan portfolio and ultimately lower loan losses.

**Primary Responsibilities Include**:

- Primary focus on the underwriting needs of VMC’s corporate region. Must be able to assess submitted loans and bring to disposition that meets guidelines specific to the approved product with timely turn times
- Must have a strong working knowledge of all loan processing, title and escrow procedures as well as VMC’s underwriting guidelines and current programs in order to provide guidance and training to brokers, staff processors and loan officers
- Reviewing, examining and underwriting loans to ensure soundness, business value and compliance with VMC standards
- Assessing loan attributes and documentation for soundness and accuracy
- Reviewing, evaluating and synthesizing data to ascertain loan viability and identify risk issues and potential fraud
- Evaluating debt coverage ratios, credit score, property valuation and various other factors
- Determining and documenting loan conditions and communicating requirements and/or decisions
- Assisting in identifying, recommending and/or negotiating alternative loan requirements, funding and/or loan structuring solutions
- Providing input on new and/or existing underwriting processes, procedures and/or approaches
- Identifying and recommending alternatives regarding loan-structuring and financing solutions
- Reviewing and analyzing special conditions, loan deficiencies and exception requests to determine appropriate courses of action
- Will work closely with support staff such as account executives, processors, secondary and corporate funding department, portraying positive and can do attitude towards all

**Requirements**:

- Bachelor’s Degree, preferred
- Preferred 6+ years of underwriting experience
- Understanding of legal, regulatory, economic, competitive and technological environments which potentially affect real estate lending programs
- Expertise in multiple underwriting specializations
- Extensive understanding of underwriting systems and their interdependencies
- Advanced computer skills
- Advanced customer
- interface skills

**Benefits become effective on the first day of the month following 30 days of employment and include**:

- 401(k) with 4% matching contribution
- Dental insurance
- Employee Stock Purchasing Program
- Health insurance
- Life insurance
- Paid time off
- Paid Holidays
- Pet Insurance
- Vision insurance

Pay: $80,000.00 - $90,000.00 per year

**Benefits**:

- 401(k)
- 401(k) 4% Match
- Dental insurance
- Employee stock purchase plan
- Health insurance
- Life insurance
- On-site gym
- Paid time off
- Vision insurance

Schedule:

- Monday to Friday

Work Location: Hybrid remote in Westlake Village, CA 91362