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Mortgage Underwriter (Business Purpose)

San Francisco, California
Job Type
14 Feb 2021
If you are a Mortgage Underwriter with experience, please read on!

What You Will Be Doing
  • Underwrite Business Purpose bridge mortgage loans in compliance with company credit guidelines and regulatory requirements and ensure loan terms, LTV/LTC and ratios meet program guidelines
  • Review loan files for completeness, identify missing documentation and generate condition lists for the applicants and Loan Analyst
  • Review the borrower's entity documents to determine who are the members of the entity and who is authorized to sign the mortgage loan documents.
  • Collaborate with the Loan Analyst and Salesperson to complete the credit analysis in a timely manner
  • Ensure that the correct data is entered into the loan origination system and company pipeline management database
  • Review and clear all conditions and be responsible for reviewing and owning all loan file details prior to submission to closing manager including work done by Loan Analyst and Sales
  • Work with Loan Analyst and Closer to ensure a smooth hand off of the files
  • Manage pipeline and prioritize to ensure loans close on time with a high degree of accuracy in a very tight deadline-oriented environment
  • Identify and report any suspected fraudulent activity occurring with any stakeholder and escalate issues to the appropriate management when necessary.
  • Maintain current knowledge of all loan products and origination requirements by keeping updated of all company policies and procedures as well as federal and state regulatory changes by reviewing all updates and participating in in-house training events
  • Ensure adequacy and quality of the borrower and subject property qualifications by:
  • Documenting the sources of funds called for in the guidelines
  • Evaluate the security property by reviewing BPO/Appraisals, Scope of Work, Feasibility Analysis reports, Environmental reports and Leases
  • Review of the Preliminary Title report and other closing requirements
  • Approve loan in accordance with appropriate terms and conditions; provide a counter-offer if the term does not meet lending standards and guidelines; or deny the loan
  • Ensure accuracy of loan disclosures and documentation
What You Need for this Position
  • 3-5 years Mortgage Lending experience with good knowledge of lending regulations and credit/collateral analysis practices.
  • Experience underwriting fix & flip/hard money/business purpose preferred.
What's In It for You
  • Integrated PTO annually
  • Health Benefits (Health, Vision, Dental)
  • Life Insurance Coverage
  • Pre-tax commuter fund
  • Pre-tax medical fund
  • SimpleIRA
So, if you are a Mortgage Underwriter with experience, please apply today!

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Matt Henery - Executive Recruiter - Optello

Applicants must be authorized to work in the U.S.

Optello is proud to be an Equal Opportunity Employer

All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability, protected veteran status, or any other characteristic protected by law.

Your Right to Work - In compliance with federal law, all persons hired will be required to verify identity and eligibility to work in the United States and to complete the required employment eligibility verification document form upon hire.
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  • Job Reference: 231864880-2
  • Date Posted: 14 February 2021
  • Recruiter: Optello
  • Location: San Francisco, California
  • Salary: On Application
  • Sector: Banking & Financial Services
  • Job Type: Permanent