MANAGER MORTGAGE LOAN UNDERWRITER
WHAT IS THE OPPORTUNITY? The role of the Underwriting Supervisor is to ensure that all underwriters who report to them evaluate first mortgage and home equity applications against company standards to determine the borrower's ability to repay a residential mortgage. The Underwriting Supervisor assists the underwriting team in analyzing and interpreting the most complex financial and non-financial data to determine if the mortgage application meets the goal of achieving the optimal quality asset for the bank while satisfying the needs of borrower. In addition to assisting the team in reviewing all complex transactions and escalated customer service issues, the Underwriting Supervisor is responsible for the day-to-day assignment of work, training, and general oversite of the underwriting team that reports to them.
Residential Lending Division
Make a meaningful difference as a member of City National's Residential Lending group. This is a great opportunity to grow your career with a stable and expanding organization while enhancing and retaining bank client relationships through competitive mortgage products and solutions with exceptional service and care.
WHAT WILL YOU DO?
- Ensures that the underwriting team is capable of and is correctly performing the following tasks:
- Review of the loan package received to ensure completeness verifying that all supporting documents are included to make a credit decision per established policies
- Identification of issues and recommendations of appropriate resolutions within policy service level agreements
- Analysis and determination of the financial capacity of the borrower's ability to repay:
- Analysis of the borrower's credit, financial statements, cash flow, liquidity qualification, and payment calculation spreads
- Review of stability of residency and employment
- Verification of income per established policy
- Identification of any exceptions to current policies
- Documentation of a reasonable conclusion mitigating any identified risks supporting the request will be repaid
- Accurate setting and clearing of conditions
- Interaction with the RLC, RM and Processor throughout the life cycle of the loan, providing information, updates and assistance as required.
- Updates to the System(s) with pertinent information and appropriate data as required
- Rendering of a decision within his/her lending authority. If deal is outside of lending authority, provides a recommended decision and submits for appropriate level signing authority
- Origination of appropriate client letters; Commitment, Counter Offer, Declination
- Ensuring compliance with bank and statutory/regulatory guidelines
- Hires, manages team member performance, terminates, develops, coaches, and motivates team members; identifies staff development needs and provides educational/training opportunities.
- Maintains appropriate staffing ratios and manages resources to optimize client support and unit profitability.
- Reviews escalated loan and customer service issues
- Review and decision exception requests within given authority.
- Preform random audits on Underwriters work to determine quality.
- Responsible and accountable for appropriate quality controls related to the financial products the bank provides, the services the bank delivers, the processes employed and the incentives with which colleagues are awarded.
- All City National products, financial solutions and services are to be provided ethically and with integrity in a manner that is consistent with the client-first culture and values embodied in City National's PRIDE statement.
WHAT DO YOU NEED TO SUCCEED
- Bachelor's Degree
- Minimum 10 years experience as an Underwriter in a financial services or mortgage banking environment required.
- Minimum 10 years experience in jumbo underwriting to investor or organization's guidelines required.
Skills and Knowledge
- Complete knowledge of FNMA/FHLMC guidelines and with commercial cash flow analysis.
- Strong knowledge of state and federal lending regulations (i.e., Ability to Repay (ATR), RESPA, Reg Z, Reg B, ECOA,, Fair Lending, etc.).
- Computer literate with experience using Microsoft applications with mortgage industry standard software.
- Ability to communicate effectively in both verbal and written form.
- Strong time management skills to plan and organize a high daily loan volume.
- Strong ability to be very detail oriented.
- Must be a team player and work constructively with their fellow colleagues.
- General knowledge and exposure to all areas of mortgage banking outside of underwriting.
The preceding job description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job.
INCLUSION AND EQUAL OPPORTUNITY EMPLOYMENT
City National Bank is an equal opportunity employer committed to diversity and inclusion. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status or any other basis protected by law.
ABOUT CITY NATIONAL We start with a basic premise: Business is personal. Since day one we've always gone further than the competition to help our clients, colleagues and community flourish.City National Bank was founded in 1954 by entrepreneurs for entrepreneurs and that legacy of integrity, community and unparalleled client relationships continues to drive phenomenal growth today. City National is a subsidiary of Royal Bank of Canada, one of North America's leading diversified financial services companies. City National Bank requires all colleagues to be fully vaccinated against COVID-19 to work on-site at any of our locations. Equal Opportunity Employer Minorities/Women/Protected Veterans/Disabled
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