Job Number: 2158434
Walnut Creek, CA
*No Remote Work offered, and no relocations services offered. Must be willing to work in the office.
Responsible for underwriting and approving real estate secured consumer loans. This includes, but is not limited to, the review of required documentation, ordering & reviewing, direct interaction with loan processing, title companies, loan services department, loan operations, legal and compliance. Must be familiar with Bank laws and regulations that meet portfolio guideline or agency requirements for real estate secured loans, including single family residential (SFR) loans and home equity lines of credit (HELOC's).
What you will do:
- Review and approve real estate secured consumer loan applications that are generated internally from the Retail and Institutional Divisions per the Bank's underwriting guidelines.
- Review documentation necessary for the placement of real estate secured consumer loans, including third party reports such as credit, appraisal, title, tax transcripts, income and asset information, bank statements, hazard and flood insurance and special documentation required for loans to self-employed borrowers and special purpose entities, such as Trusts and LLCs.
- Understand the Banks' underwriting guidelines for real estate secured consumer loan products.
- Apply common sense underwriting methods to responsible, safe and sound exceptions lending.
- Adhere to underwriting exceptions protocol as defined by the SVP.
- Assures adherence to correct and current loan processing procedures, compliance laws and regulations, including, but not limited to, CFPB guidance, Reg Z, Reg B and TRID, relevant portions of the Bank Secrecy Act (BSA), OFAC, USA Patriot Act, Gramm-Leach-Bliley Act and Anti-Money Laundering (AML) guidelines and Fair Lending requirements.
- Provides regular updates to the Real Estate Consumer Lending Department and the Bank on same, as needed
- Performs and participates as needed in internal and external audits, compliance and regulatory reviews, as required.
- Identifies and reports suspicious activity and files PSAR reports as needed.
Who you are:
- Minimum of 5 years of consumer lending experience in underwriting
- Agency experience is helpful, someone who can understand Qualified Mortgage (QM), and appendix Q underwriting guidelines for Jumbo/Portfolio loans.
- Experience with underwriting with self-employed with more complex financial statements/tax returns. Ability to repay non-QM underwriting,
- Fannie/FHA/Freddie is important but not required.
- Encompass LOS is highly preferred.
- Extensive knowledge of underwriting, processing, closing and funding real estate secured consumer mortgage loans and home equity lines of credit.
- Ability to understand and interpret credit, title and appraisal reports, and third party reports such as Compliance Ease and Fraud Guard and other key loan documentation such as tax returns, bank statements, asset statements, tax analysis, and special purpose entity documentation such as Trusts and LLC's.
- Minimum of 6 months of HELOC (Home Equity Line of Credit) experience in a banking/portfolio environment.
- Strong understanding of all relevant consumer loan regulations and credit practices including, but not limited to, Regulation B (ECOA), BB (CRA), C (HMDA) Flood Disaster Protection Act, Real Estate Appraisal regulations and guidelines.
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