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Real Estate Senior Underwriter

Company: Logix Federal Credit Union
Location: Valencia
Posted on: November 22, 2021

Job Description:

The Real Estate Senior Underwriter provides a careful analysis of loans accepted for processing by the credit union and ensures loans meet the guidelines established by LFCU as well as meeting federal and state regulations. Also provides training and guidance to real estate loan personnel to ensure their continued growth and development for the benefit of the credit union and the employee. Must also provide the highest level of quality service to both members and coworkers.

ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Other duties may be assigned.

  • Analyzes, approves or denies loan applications based on applicable investor guidelines, Private Mortgage Insurance guidelines, and property guidelines and LFCU programs within prospective lending limits.
  • Analyzes appraisal reports to ensure sound valuation conclusions.
  • Analyzes property cash flow statements to determine actual and potential cash flow.
  • Analyzes business tax returns, credit reports, and financial statements to determine cash flow, profitability, business value, and sound borrower accounting and reporting practices.
  • Analyzes personal tax returns, personal financial statements, and consumer credit reports to determine borrower's financial ability and likelihood to pay.
  • Analyzes loan applications based on applicable credit and property guidelines and program profiles.
  • Reviews preliminary title policies, environmental reports, and other data.
  • Demonstrates knowledge of Consumer Financial Protection Bureau's Ability to Repay Regulations, Qualified and Non-Qualified Mortgage loans.
  • Demonstrates knowledge of investor/secondary market guidelines.
  • Recommends loans for final loan approval; stipulates for any "prior-to-documents or funding" conditions. Presents and recommends loans for approval to the Underwriting Manager and/or Senior Loan Committee as required.
  • Explains reasons for denied and/or marginal loans and explores options with Loan Officer / Manager.
  • Systematically enters and processes denied, cancelled and withdrawn loan applications. Responsible for mailing notices to borrowers.
  • Answer calls from the real estate underwriting hotline and respond to branch inquiries, assist with guidelines and program requirements.
  • Supports the Credit Unions commitment to delivering exceptional customer service as demonstrated through our shared values and promise principles.
  • Assists in achieving the departments NPS turn time goals.
    The Ideal Candidate Will Have:
    • Bachelor's degree (B. S.) or equivalent with an emphasis in finance or real estate; or equivalent combination of education and experience.
    • Minimum 5 years of experience in real estate lending and underwriting to FNMA/FHLMC guidelines and a working knowledge of the Microsoft suite of office products. Experience with automated lending systems is a plus.
      Must also demonstrate conduct consistent with our Corporate Values:
      • Practice open Communication with all levels;
      • Be Accountable by taking ownership of customer issues and responsibility for one's actions;
      • Foster Teamwork by cooperating and collaborating with other employees;
      • Seek ways to make the workplace Fun for oneself &others;
      • Conduct oneself with Integrity by being honest, trustworthy and ethical in all work activities and interactions;
      • Work with a Service Orientation by having a genuine concern for the needs of one's customers and by being friendly, professional and following through on commitments;
      • Demonstrate Humility in all interactions and remember to leave one's ego at the door when one arrives to work.
        Logix Federal Credit Union is an equal opportunity employer that does not discriminate in employment opportunities or practices on the basis of race, religion, color, sex, sexual orientation, gender identity, national origin, protected veteran or disability status, or any other status protected by law.

Keywords: Logix Federal Credit Union, Los Angeles , Real Estate Senior Underwriter, Accounting, Auditing , Valencia, California

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