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Sr. Residential Loan Underwriter

Company: First Foundation Bank
Location: Irvine
Posted on: May 15, 2022

Job Description:

Job DescriptionSummary: Responsible for performing calculations required for loan decisions and recommending loan termsDuties and Responsibilities:

  • Determine credit risk and maintain current awareness of trends, which may impact credit risk
  • Calculate income, analyze complex tax returns, evaluate credit‑worthiness, report ratios, estimate closing costs, and evaluate asset and liability verifications
  • Make recommendations and presentations to Loan Officers and loan committee on estate loans
  • Prepare and distribute notification of loan decision to applicants
  • Maintain loan pipeline reports
  • Review loan packages for compliance with State and Federal regulations and with the Bank's lending policies and procedures
  • Examine appraisal reports, desk reviews, field reviews, and loan evaluations for compliance with the Bank's appraisal standards and collateral acceptability. Notifies Loan Officers and mortgage brokers of appraisal department conditions and coordinates acceptability of appraisal conditions with the Appraisal DepartmentJob Requirements: To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.Education and/or Experience:
    • High School diploma or equivalent required; Bachelor's degree preferred, or equivalent related experience
    • Minimum of 5 to 7 years of underwriting experience in conventional 1‑4 family loans, including non-conforming and high balance residential loans involving complex borrowing entities
    • Successful completion of real estate appraisal training course either from an organization that issues designations, a junior college, or attendance at an appraisal review seminar presented by the Bank's Chief AppraiserSkills:
      • Knowledge of lending procedures to assure compliance with all applicable regulatory requirements
      • Excellent customer service and verbal/written communication skills
      • PC proficiency
      • Must be available to work additional hours as needed
      • Possesses a thorough knowledge of the "Ability to Repay" rules related to determining the loan applicant's creditworthiness and ability to meet the guidelines for qualification for a residential mortgage loan
      • Must be knowledgeable of regulatory compliance requirements such as RESPA, TILA, the new TRID guidelines, Ability to Repay, etc.First Foundation is an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, protected veteran status, status as a qualified individual with disability, sexual orientation, gender identity or any other characteristic protected by law.

Keywords: First Foundation Bank, Irvine , Sr. Residential Loan Underwriter, Other , Irvine, California

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