Bank of the West Jobs

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Bank of the West Mortgage Underwriting - Team Lead in Madison, Wisconsin

Mortgage Underwriting - Team Lead

Description

At Bank of the West, our people are having a positive impact on the world. We’re investing where we feel we can make the most impact, like advancing diversity and women entrepreneurship programs, financing for more small businesses, and promoting programs for sustainable energy. From our locations across the U.S., Bank of the West is taking action to help protect the planet, improve people’s lives, and strengthen communities. We are part of BNP Paribas, a global leader supporting the UN Sustainable Development Goals (SDGs). Yes, we’re a bank, but as the bank for a changing world, we are continually seeking to improve the ways we help our customers, while contributing to more sustainable and equitable growth.

Job Description Summary

Responsible for providing quality and consistent underwriting of real estate secured loans and/or lines of credit, focusing on difficult/complex loans/lines, to ensure compliance with appropriate company standards. Responsible for ascertaining the needs of borrowers and assisting them in selecting the appropriate loan type which best matches their long-term objectives, and ensuring compliance with FHLMC/FHA/VA/FNMA or portfolio guidelines. Also assesses the potential risk of loan applicants, including current and past credit and job history, ensures that all real estate secured applications are complete, accurate, and fall within acceptable BOW guidelines, and attains direct endorsement approvals. Provides high quality customer service, including underwriting in a competitive time frame. Provides direction and guidance to other less experienced underwriters.

Essential Job Functions

  • Work with team supervisor/manager on file flow, and proactively assures timely completion of the team pipeline as needed. May act as second in command in supervisor’s absence.

  • Act as an escalation contact for team and mentor and coach as needed.

  • Utilizes Fannie Mae's Desktop Underwriter and GUS to determine loan eligibility for sale to Agency, if applicable.

  • Ensures all file documentation requirements are met for agency or portfolio eligible loans.

  • Underwrites loan files through a review process of analyzing and evaluating income, assets, liabilities, and property, while maintaining designated time frames as determined by management Assimilates new government regulations and applies this knowledge to improve and maintain quality and consistent underwriting. Reviews self-employed, corporate and partnership tax returns, profit and loss, as well as financial statements to ascertain borrowers' income.

  • Prepares written letters of commitment, declination letters and/or counteroffer letters for each loan/line decision detailing required documentation, including mortgage amount approved when applicable.

  • Reviews and corrects potential problems in loan processing files (credit history, nonconforming appraisals, files not adhering to guidelines, etc.).

  • Gathers information in order to solve problems and make decisions through phone contact to managers, loan originators, government agencies, and in some cases the borrowers.

Qualifications

Required Experience

  • Requires a minimum of 5-7 years minimum mortgage underwriting experience.

  • Requires advanced knowledge of job area typically obtained through advanced education combined with experience.

  • Knowledge of Bank’s lending policies and procedures.

  • Complete knowledge of mortgage credit processing and underwriting.

  • Complete knowledge of loan documents and real estate terminology, FHLMC/FHA/VA.FNMA guidelines and portfolio lending practices, and State and Federal agency policies and procedures.

Education

  • High School Diploma or GED Required

Work Experience

  • 3 - 5 yrs Mortgage or consumer lending industry

Skills

  • Complete knowledge of mortgage credit processing and underwriting.

  • Complete knowledge of loan documents and real estate terminology, FHLMC/FHA/VA.FNMA guidelines and portfolio lending practices, and State and Federal agency policies and procedures.

  • Knowledge of Bank’s lending policies and procedures.

  • Excellent organizational skills.

  • Ability to develop and maintain effective relationships with staff members and departmental representatives.

  • Demonstrated leadership skills with ability to mentor and lead while maintaining individual workload.

Equal Employment Opportunity Policy

Bank of the West is an Equal Opportunity employer and proud to provide equal employment opportunity to all job seekers without regard to any status protected by applicable law. Bank of the West is also an Affirmative Action employer - Minority / Female / Disabled / Veteran.

Bank of the West will consider for employment qualified applicants with criminal histories pursuant to the San Francisco Fair Chance Ordinance subject to the requirements of all state and federal laws and regulations.

Job: Mortgage

Location: United States-Arizona-General AZ

Other Locations: United States-Illinois-General IL, United States-Wisconsin-General WI, United States-Minnesota-General MN, United States-Missouri-General MO, United States-North Dakota-General ND, United States-Iowa-General IA, United States-Kansas-General KS, United States-Nevada-General NV, United States-Washington-General WA, United States-Oklahoma-General OK, United States-New York-General NY, United States-Idaho-General ID, United States-Utah-General UT, United States-Georgia-General GA, United States-Ohio-General OH, United States-New Mexico-General NM, United States-South Dakota-General SD, United States-Texas-General TX, United States-Oregon-General OR, United States-California-General CA, United States-North Carolina-General NC, United States-Nebraska-General NE

Requisition ID: 055534

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