Mortgage Loan Underwriter II

Royal Bank of Canada • Wilmington, DE

397d • $78,957 - $126,131

About The Position

The Mortgage Loan Underwriter II is responsible for evaluating credit risk and determining a borrower's ability to repay residential mortgages. This role involves analyzing complex financial data, ensuring compliance with lending guidelines, and collaborating with various stakeholders to achieve optimal asset quality for the bank while meeting borrower needs.

Requirements

• Bachelor's degree required.
• Minimum 5 years of experience as an Underwriter in a financial services or mortgage banking environment required.
• Minimum 5 years of experience in jumbo underwriting to investor or organization's guidelines required.
• Minimum 5 years of experience with state and federal lending regulations.

Nice To Haves

• Familiarity with FNMA/FHLMC guidelines.
• General knowledge and exposure to funding and loan documentation.

Responsibilities

• Reviews the loan package for completeness and verifies supporting documents for credit decisions.
• Identifies issues and recommends resolutions within policy service level agreements.
• Analyzes the financial capacity of borrowers, including credit analysis and cash flow analysis.
• Reviews stability of residency and employment, and verifies income according to policy.
• Documents conclusions to mitigate identified risks and supports repayment requests.
• Sets and clears conditions accurately.
• Interacts with RLC and Processor throughout the loan lifecycle, providing updates and assistance.
• Updates systems with pertinent information as required.
• Renders decisions within lending authority and submits recommendations for higher authority when necessary.
• Originates client letters such as Commitment, Counter Offer, and Declination.
• Certifies and provides a final Workbook to the Processor.
• Ensures compliance with bank and regulatory guidelines.
• Promotes a positive team environment and fosters collaboration.
• Tracks and reports production statistics as defined by management.
• Participates in projects and process improvement initiatives as assigned.

Benefits

• Eligible for bonus and/or commissions.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Industry: Credit Intermediation and Related Activities
• Education Level: Bachelor's degree