A credit union in San Mateo is seeking an underwriter to join their team! This is a direct hire opportunity.
Responsible for maintaining a complete knowledge of the FNMA underwriting guidelines as well as the credit union's loan portfolio policies, guidelines, credit granting criteria, and documentation requirements in order to make authorized loan decisions. Additionally, must be knowledgeable and experienced in underwriting to multiple investor guidelines for conforming and non-conforming loans and to underwrite loans sold direct to FNMA. PRIMARY RESPONSIBILITIES
- Receives complete loan packages through Real Estate Loan officers/manager. Evaluates and underwrites loan requests to FNMA, investor, or credit union guidelines as applicable. Loans outside of guidelines or approval parameters are escalated to the AVP of Lending or VP of Lending/Operations with a recommendation as to possible structure and loan decision.
- Review, interpret, and understand real estate appraisals to ascertain the collateral value
- Maintain a working understanding and knowledge of current FNMA underwriting guidelines
- Review accuracy of all data used in a loan application, verifying data provided with support documentation, stipulate and communicate conditions of approval and funding.
- Responsible for communicating conditions and loan decisions to Loan Processor(s) including the ability to discuss loan denials and loan alternatives.
- Must possess ability to review and understand tax returns and real estate document requirements
- Working knowledge of RESPA and regulatory requirements for real estate lending
- Performs other related duties as assigned by the Real Estate Loan Servicing Manager.
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Volt is an equal opportunity employer.
Minimum three to five years underwriting experience with secondary market guidelines including FNMA underwriting is a must
- Demonstrated understanding of Fannie Mae selling/servicing guidelines and requirements
- Strong analytical skills and understanding of complex tax returns and broad knowledge of financial products and services.
- High degree of accuracy with strong attention to detail
- Strong verbal and written communication skills.
- Proficient use of a personal computer with Windows-based programs.
Location: Redwood City, CA
Pay Rate: 53,400.00 - 67,200.00 Annual DOE
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