City National Bank
WHAT IS THE OPPORTUNITY?
MORTGAGE LOAN UNDERWRITER SENIOR 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 policies
Identifies issues and recommends appropriate resolution within policy service level agreements
Analyzes 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 spreads
Reviews for stability of residency and employment
Verifies income per established policy
Identifies any exceptions to current policies
Documents a reasonable conclusion mitigating any identified risks supporting the request will be repaid
Accurately sets and clears conditions
Interacts with RLC and Processor throughout the life cycle of the loan, providing information, updates and assistance as required
Updates System(s) with pertinent information and appropriate data as required
Renders a decision within his/her lending authority. If deal is outside of lending authority, provides a recommended decision and submits for appropriate level signing authority
Originates appropriate client letters; Commitment, Counter Offer, Declination
Certifies and provides a final Workbook to the Processor
Ensures compliance with bank and statutory/regulatory guidelines
Client Satisfaction
Promotes a team environment fostering a positive working environment
Functions as a collaborator and innovator to drive continuous improvement
Provides guidance and support to the RLC and Processor when required
Utilizes systems and tools to ensure that the RLC’s are updated on the status of loans
Interacts and communicates daily with all levels as required to support business units, Processors, Funding/Doc Prep to ensure requirements are understood and met
Provides timely, complete and accurate response to inquiries
Handles all situations in a professional and ethical manner
Takes the lead in resolving problems for his/her own loans; assisting Underwriters I and II with resolutions
Supports and contributes to the quality and customer satisfaction goals of the bank
Productivity
Ensures all goals and service level agreements (SLAs) are met
Tracks, logs and provides daily, weekly, monthly, quarterly reporting of production statistics as defined by management
Consistently meets quality control and data integrity standards
Effectively utilizes available systems, workflow and imaging tools
Mentor and train Underwriters I and II
2nd level review of Underwriters I and IIs’ work
Performs other duties as assigned by Management, including participation in projects, process improvement initiatives, etc.
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 required
Minimum 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 QUALIFICATIONS Bachelor’s degree in Business, Finance or Economics or related discipline with 10 or more years of experience in a mortgage banking environment required
Familiar with FNMA/FHLMC guidelines
Computer 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 form
Strong time management skills to plan and organize a high daily loan volume
Strong ability to be very detail oriented
Must be a team player and work constructively with their fellow colleagues
Specific 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?
Compensation
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. BENEFITS AND PERKS Comprehensive healthcare coverage, including Medical, Dental and Vision plans, available the first of the month following start date
Generous 401(k) company matching contribution
Career Development through Tuition Reimbursement and other internal upskilling and training resources
Valued Time Away benefits including vacation, sick and volunteer time
Specialized health and family planning benefits including fertility benefits, and cancer, diabetes and musculoskeletal support programs
Career Mobility support from a dedicated recruitment team
Colleague Resource Groups to support networking and community engagement
Get a more detailed look at our Benefits and Perks. ABOUT US Since 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 EMPLOYMENT City 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.
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MORTGAGE LOAN UNDERWRITER SENIOR 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 policies
Identifies issues and recommends appropriate resolution within policy service level agreements
Analyzes 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 spreads
Reviews for stability of residency and employment
Verifies income per established policy
Identifies any exceptions to current policies
Documents a reasonable conclusion mitigating any identified risks supporting the request will be repaid
Accurately sets and clears conditions
Interacts with RLC and Processor throughout the life cycle of the loan, providing information, updates and assistance as required
Updates System(s) with pertinent information and appropriate data as required
Renders a decision within his/her lending authority. If deal is outside of lending authority, provides a recommended decision and submits for appropriate level signing authority
Originates appropriate client letters; Commitment, Counter Offer, Declination
Certifies and provides a final Workbook to the Processor
Ensures compliance with bank and statutory/regulatory guidelines
Client Satisfaction
Promotes a team environment fostering a positive working environment
Functions as a collaborator and innovator to drive continuous improvement
Provides guidance and support to the RLC and Processor when required
Utilizes systems and tools to ensure that the RLC’s are updated on the status of loans
Interacts and communicates daily with all levels as required to support business units, Processors, Funding/Doc Prep to ensure requirements are understood and met
Provides timely, complete and accurate response to inquiries
Handles all situations in a professional and ethical manner
Takes the lead in resolving problems for his/her own loans; assisting Underwriters I and II with resolutions
Supports and contributes to the quality and customer satisfaction goals of the bank
Productivity
Ensures all goals and service level agreements (SLAs) are met
Tracks, logs and provides daily, weekly, monthly, quarterly reporting of production statistics as defined by management
Consistently meets quality control and data integrity standards
Effectively utilizes available systems, workflow and imaging tools
Mentor and train Underwriters I and II
2nd level review of Underwriters I and IIs’ work
Performs other duties as assigned by Management, including participation in projects, process improvement initiatives, etc.
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 required
Minimum 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 QUALIFICATIONS Bachelor’s degree in Business, Finance or Economics or related discipline with 10 or more years of experience in a mortgage banking environment required
Familiar with FNMA/FHLMC guidelines
Computer 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 form
Strong time management skills to plan and organize a high daily loan volume
Strong ability to be very detail oriented
Must be a team player and work constructively with their fellow colleagues
Specific 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?
Compensation
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. BENEFITS AND PERKS Comprehensive healthcare coverage, including Medical, Dental and Vision plans, available the first of the month following start date
Generous 401(k) company matching contribution
Career Development through Tuition Reimbursement and other internal upskilling and training resources
Valued Time Away benefits including vacation, sick and volunteer time
Specialized health and family planning benefits including fertility benefits, and cancer, diabetes and musculoskeletal support programs
Career Mobility support from a dedicated recruitment team
Colleague Resource Groups to support networking and community engagement
Get a more detailed look at our Benefits and Perks. ABOUT US Since 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 EMPLOYMENT City 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.
#J-18808-Ljbffr