Underwriter – Level 4
Plaza Home
Mortgage, Inc., a national wholesale mortgage company headquartered in San
Diego, California, has an excellent full-time opportunity for an Underwriter –
Portfolio Review.
Plaza
Home Mortgage, Inc. was originally founded in December of 2000 to serve the San
Diego area mortgage market. Due to our
growth and success, we now have branches throughout the United States and we
are continuing to grow and expand in anticipation of market demands. Plaza is privately owned and operates as a
full service Mortgage Banker.
Plaza’s mission is to become the premier
provider of mortgage loans by developing a distinct, sustainable competitive
advantage through superior execution of a business philosophy that combines
knowledge, technology, and service.
Plaza Home Mortgage, Inc. is dedicated to building long term
relationships with both customers and employees through quality training, and
excellent customer support.
Our ideal candidate should be outgoing,
hardworking, and maintain high levels of professionalism and ethics.
Position Summary:
Responsible
for analyzing and evaluating consumer home loan applications and the supporting
documentation to assess borrowers' credit worthiness. Types of consumer loan
applications include, but are not limited to, Conventional Conforming and
Non-Conforming loan amounts, FHA, VA and USDA residential first mortgages. Is
able to recommend approval or denial of credit applications and provide written
and verbal decision and documentation to support the lending decision. Individual interact and work well with
appropriate individuals including branch operations staff, loan originators,
loan processors, and account executives within and outside the company in order
to obtain information for the credit decision.
Primary responsibilities include:
The following job functions are not
all-inclusive. The employee will be
required to perform other job-related tasks/responsibilities requested by the
supervisor. Job duties may change as
required by needs of company.
1. Must demonstrate
leadership qualities, as a resource to others on questions related to
Underwriting.
2. Will be required to
provide training and mentoring of Jr. Underwriters and Level I, II
Underwriters.
3. Has the ability to
second sign decisions for Level I, II and III Underwriters.
4. Perform mortgage
credit analysis, with or without the assistance of automated underwriting
system, to determine borrower’s willingness and ability to repay the mortgage
debt. Review credit documents for completeness and accuracy.
5. Perform detailed
review of appraisal for one-to-four family residential property appraisals to
determine acceptability of security for loan programs offered by Plaza.
6. Maintain production
goals & standards and the investment quality of loans underwritten with an
understanding of industry standards and documentation requirements for loans
sold to investors, FNMA, FHLMC, VA, FHA and Ginnie Mae Securities.
7. May underwrite one
or all of the following loan types; Conventional, FHA, FHA203k, VA and USDA
loans.
8. Must be able to
evaluate and analyze income tax returns to establish qualifying income.
9. Is able to act as
FHA DE and/or VA Automatic and SAR Underwriter, if not is pursuing these
designations.
10. Evaluate risk to
ensure a prudent decision is made.
11. Approval authority
based on level authority limits authorized by the company.
12. Partner with sales
to ensure mortgage applications are originated efficiently and in compliance
with all Plaza Home Mortgage regulatory requirements, especially as it pertains
to Underwriting.
Qualified Candidates should possess the following:
This position requires a high school diploma or
equivalent (a college degree is preferred) with recent Underwriting experience
in the mortgage industry and knowledge of the sales of mortgage loans into
secondary market. Incumbent must have excellent judgment skills to make quick decisions within
written policy and standard operating procedures; working knowledge of loan
program products and services, policies, and requirements of a HUD regulated
lending institution; the ability to understand and make recommended changes to
Standard Operating Procedures; and familiarity with state and federal
regulations are required as well as a solid understanding of: HMDA,
Regulation Z, Regulation B, the FHLMC, FNMA, FHA rules and processes. Additional qualifications required include
excellent oral, written, and interpersonal communication skills; exceptional
attention to detail; the capability to multi-task in a high paced environment with heavy volume of
transactions.
Position also requires proficient knowledge of computer systems
including MS Office (Word, Excel, and Outlook) and Internet Browsers; the
ability to efficiently and
consistently produce accurate work; a solid commitment to customer
service; strong organizational
and problem solving skills; and the demonstrated ability to work in both a team
and individual environment.
SUPERVISION RECEIVED:
This position receives daily
supervision and instructions from the Branch Operations Manager and/or the
Branch Underwriting Manager. Incumbent
makes some decisions within scope of job responsibilities and in accordance
with company policy as well as state and federal laws. Incumbent’s work is consistently reviewed by
the Branch Operations Manager and/or the Branch Underwriting Manager and/or the
SVP, Credit Policy.
SUPERVISORY
RESPONSIBILITIES:
This position has
no supervisory responsibilities
INTERACTION WITH OTHERS:
This
job regularly interacts internally with Account Executives, Client Service
Representatives, Wholesale Loan Processors, Underwriters, Closer/Funders, Loan
Registration, and Operations Management.
Incumbent additionally regularly interacts externally with Approved
Brokers and Correspondents, Investors, and Insurers.
PHYSICAL DEMANDS OF JOB:
This position
requires constant talking, hearing, and use of hands and fingers, as well as
frequent standing and walking. This
position also requires occasional stooping, kneeling, twisting, turning,
bending at waist, crouching and reaching with hands and arms. Incumbent must be able to occasionally lift
and carry up to 25 pounds. Good vision
at both close range and at distance is required.
WORK ENVIRONMENT AND SPECIAL CONDITIONS:
This position works
primarily indoors in an office setting with occasional exposure to outdoor
weather conditions. A moderate noise
level is typical for the work environment of this job. Some occasional travel by car or plane may be
required.
USE OF DISCRETION
AND INDEPENDENT JUDGMENT:
This position does not make any decisions
regarding the creation or changing of company underwriting policies without the
prior approval of the Branch Regional Manager; Branch Operations Manager; and
the Corporate Office’s SVP, Credit Policy.
Incumbent
is specifically responsible for making independent
approval/suspense/declination decisions on loans within the applicable decision
range per underwriter (i.e. loan to value ranges, loan amounts, etc). Underwriting authority is granted by
individual performance and by experience.
The signature authority and applicable signature requirements are set by
the Credit Policy Department based upon recommendation of work product and/or
resume by the supervisor. The signing
authority is communicated to the respective underwriter and entered in to the
operating system as appropriate. Each
underwriter will underwrite within those approved standards and will be
measured against those standards. The
signature authority and applicable signature requirements are as listed in the
Underwriting Authority table.
If
you are qualified and interested in this opportunity, please submit your cover
letter and resume to careers@plazahomemortgage.com
or Fax to: Human Resources (858) 450-1082.
Please indicate the position title you are interested in on the subject
line of your email/fax cover sheet.
Plaza
Home Mortgage, Inc. offers a full benefits package and a great work
environment. Please visit us at www.plazahomemortgage.com
Plaza Home Mortgage is an Equal Opportunity Employer.