Underwriter

  • location: Oakland, CA
  • type: Permanent
  • salary: $90,000 - $97,000 per year
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job description

Underwriter

job summary:
We are conveniently located in Oakland, CA and offer great benefits!

  • Bonus/incentives for all regular employees
  • 401(k) with 8% company contribution
  • Medical, dental, and vision insurance for employees and dependents paid at 80%
  • PTO and paid sabbaticals
  • Tuition reimbursement
In a nutshell...

Underwrites all residential real estate loan products ensuring adherence to the appropriate company or investor guidelines.

DUTIES and RESPONSIBILITIES:

  • Apply Fannie Mae manual and desktop underwriting guidelines and CFCU internal underwriting guidelines to residential first and second mortgage loans for both purchase money or refinance, conforming or jumbo.
  • Make exception recommendations or counter-offer recommendations on a case-by-case basis to Underwriting Supervisor or above, as needed.
  • Review and analyze all areas of the mortgage loan application to ensure accuracy, completeness and compliance with internal and regulatory guidelines including but not limited to: upfront disclosures, loan-to-value ratios, credit reports, application, appraisals, and title.
  • Other duties as assigned.
EDUCATION and EXPERIENCE:

  • A.A. degree plus...
  • 3-5 years of residential mortgage underwriting experience required.
  • Equivalent combination of education and experience may be acceptable.
SKILLS:

  • Ability to read, analyze, and interpret written materials including loan documentation and governmental regulations.
  • Demonstrated knowledge of conventional and governmental, A and B credit quality loans with a financial institution.
  • Ability to write reports, business correspondence, and procedure manuals in English.
  • Demonstrated understanding of how to calculate income for all types of borrowers, handle complex tax returns and related financial statements, analyze various sources of funds, interpret credit agency and similar reports to establish creditworthiness of the borrowers.
  • Ability to calculate figures and amounts such as loan payments, discounts, interest, commissions, and percentages.
  • Clear understanding of regulatory compliance procedures as well as loan origination, loan processing and closing procedures.
  • Familiarity with FNMA manual and desktop underwriting (DU) guidelines for conforming loans a plus.
  • Exceptional computer skills are required.
  • Knowledge of Desktop Underwriter (DU) and Mortgage Cadence a plus.
  • Ability to utilize on-screen loan origination software.
 
location: Oakland, California
job type: Permanent
salary: $90,000 - 97,000 per year
work hours: 8 to 5
education: Associate's degree
experience: 3 Years
 
responsibilities:
  • Apply Fannie Mae manual and desktop underwriting guidelines and CFCU internal underwriting guidelines to residential first and second mortgage loans for both purchase money or refinance, conforming or jumbo.
  • Make exception recommendations or counter-offer recommendations on a case-by-case basis to Underwriting Supervisor or above, as needed.
  • Review and analyze all areas of the mortgage loan application to ensure accuracy, completeness and compliance with internal and regulatory guidelines including but not limited to: upfront disclosures, loan-to-value ratios, credit reports, application, appraisals, and title.
  • Other duties as assigned.
 
qualifications:
  • A.A. degree plus...
  • 3-5 years of residential mortgage underwriting experience required.
  • Equivalent combination of education and experience may be acceptable.
SKILLS:

  • Ability to read, analyze, and interpret written materials including loan documentation and governmental regulations.
  • Demonstrated knowledge of conventional and governmental, A and B credit quality loans with a financial institution.
  • Ability to write reports, business correspondence, and procedure manuals in English.
  • Demonstrated understanding of how to calculate income for all types of borrowers, handle complex tax returns and related financial statements, analyze various sources of funds, interpret credit agency and similar reports to establish creditworthiness of the borrowers.
  • Ability to calculate figures and amounts such as loan payments, discounts, interest, commissions, and percentages.
  • Clear understanding of regulatory compliance procedures as well as loan origination, loan processing and closing procedures.
  • Familiarity with FNMA manual and desktop underwriting (DU) guidelines for conforming loans a plus.
  • Exceptional computer skills are required.
  • Knowledge of Desktop Underwriter (DU) and Mortgage Cadence a plus.
  • Ability to utilize on-screen loan origination software.
 
skills: Loan Processing, Loan Review
Equal Opportunity Employer: Race, Color, Religion, Sex, Sexual Orientation, Gender Identity, National Origin, Age, Genetic Information, Disability, Protected Veteran Status, or any other legally protected group status.

Qualified applicants in San Francisco with criminal histories will be considered for employment in accordance with the San Francisco Fair Chance Ordinance.

We will consider for employment all qualified Applicants, including those with criminal histories, in a manner consistent with the requirements of applicable state and local laws, including the City of Los Angeles' Fair Chance Initiative for Hiring Ordinance.

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