Real Estate Loan Underwriter III

SchoolsFirst Federal Credit Union•Tustin, CA

5d•$34 - $50•Onsite

About The Position

This position has primary responsibility for loan quality, ensuring that approved loans meet State and Federal regulatory requirements, investor requirements, and internal Lending Policy and Standard Operation Procedures (SOPs). The Real Estate Loan Underwriter III underwrites real estate loan requests in a compliant manner, provides upfront credit approval and final approval on loans within individual lending authority limits, and applies team and department best practices. This role requires continuous development of knowledge in secondary investor lending requirements and SchoolsFirst FCU lending policies, guidelines, and operating systems. The underwriter is accountable for reviewing internal policy documents and SOPs frequently to ensure current skills and understanding, and is familiar with the AllReg’s system to review investor guidelines. When necessary, this role assists in processing applications by performing functions such as member contact updates, third-party communication, and other processing or loan closing tasks. The underwriter serves as the initial contact for escalated member calls regarding appraisals, counter-offers, or loan stipulations. Additionally, this role mentors loan consultants, processors, and closers, leading them in developing skills and experience with loan requirements, and ensures the Loan Operating System (LOS) is updated daily. The underwriter reviews SOP exception requests, provides loan counter-offers, and either approves within individual limits or makes a decision recommendation to senior underwriter or management. Finally, this role ensures that department turnaround times are met.

Requirements

High School Diploma or GED required
3-5 years of prior related experience required

Responsibilities

Has primary responsibility for loan quality.
Ensures that approved loans meet State and Federal regulatory requirements, investor requirements and internal Lending Policy and Standard Operation Procedures (SOP's).
Underwrites real estate loan requests in a manner that is compliant with internal Lending Policies, SOP’s, including matrices and Investor guidelines.
Provides upfront credit approval and final approval on all loans within individual lending authority limits.
Apply team and department “Best Practices” as instructed by Management.
Continues to develop knowledge in secondary investor lending requirements and SchoolsFirst FCU lending policies, guidelines, and operating systems.
Is accountable for reviewing internal policy documents and SOP’s on a frequent basis to ensure that skills and understanding are current.
Is familiar with the AllReg’s system to review investor guidelines as needed.
When necessary assists in processing applications by performing processing functions including Member contact updates, third party communication, and other processing or loan closing tasks.
Is the initial contact for escalated Member calls regarding appraisals, counter-offers or loan stipulations requested.
Mentors loan consultants, processors and closers and leads these groups in developing skills and experience with loan requirements.
Ensures that Loan Operating System (LOS) is updated in all required areas on a daily basis.
Reviews SOP exception requests, or provides loan counter-offers and either approves within individual limits or makes a decision recommendation to senior underwriter or management.
Ensures that department turnaround times for period from receipt of completed application to credit approval then funding are met.
Performs other duties as assigned.
Complies with regulatory compliance and assigned training requirements including but not limited to BSA regulations corresponding to their specific job duties.