Mortgage Underwriter

Job Summary

The Mortgage Underwriter is responsible for the analysis of all financial data related to new and renewal loan request including but not limited to mortgages and lines of credit. Conducts credit investigations, prepares credit approval reports and summarizes credit analysis, including the credit suitability with financial institution policy. Presents facts and summarizes the credit analysis results concerning the applicant s credit worthiness. Prepares summary and/or approval report documenting credit analysis and supporting information for credit decision recommendation.

Charles Schwab Bank follows the three lines of defense model of risk governance. The Mortgage Underwriter is a first line of defense position for Charles Schwab Bank and assures compliance with all Bank policies and procedures, as well as all applicable state and federal banking regulations in the context of their responsibilities.

What you ll do:

Primary Responsibilities

  • Responsible for credit decisions on customer s loan request that fall outside standard credit policies or guidelines.

  • Adherence to second look decline loan review process, with particular focus on request from low-moderate income applicants

  • Approve, counter-offer, decline or offer alternative lending products when appropriate

  • Document all pertinent underwriting information and correspondences into the automated lending system

Problem Solving/Analysis

  • Evaluate and render loan decisions on consumer loan request, handling mostly undefined credit issues

  • Adherence to Bank Credit Policy, and that loan decisions are safe and sound

  • Suggest revisions to credit products, policy, process, and underwriting as results of loan reviews

Influence Responsibilities/ Level of Interaction

  • Participate in due diligence teams

  • Interface with primary vendors on risk-related matters for loan exception underwriting

  • Work with primary vendors to obtain consistent 24 hours or less turn times

Business Impact and Scope

  • Will hold delegated lending authority assigned to Bank personnel

  • Will have ability to impact credit quality of portfolio

  • Will have ability to identify risk issues and recommend changes to process or policy

  • Errors in judgment or failure to execute duties can have a material negative impact on Bank s portfolio quality

What you have:

  • 5+ years; college degree or equivalent experience

  • Comprehensive knowledge of consumer credit products in general, and residential real-estate secured loans products in particular

  • Knowledge of credit underwriting (including FNMA and FHLMC requirements), quality control process, and appraisal and title products

  • Excellent credit and analytical skills

  • Proven track record in consumer credit analysis, underwriting, review, and approval

  • Sound Judgment

  • Experience with Automated Lending Platforms Systems strongly preferred

  • Ability to influence across a organizational boundaries and build strong partnerships

  • Financial acumen and proven record of tracking and measuring results.

  • Strong client focus

  • Good interpersonal and communication skills

  • Good Organization skills

  • Ability to multi-task daily activities

  • Ability to prioritize daily work flow in order to meet client service needs

  • Computer competencies in Access, Word, excel, Outlook and ability to navigate via the internet

What you ll get:

  • Everyday Wellness: Healthy Rewards, Onsite Fitness Classes, Healthy Choices, Wellness Champions

  • Financial Fitness: 401k Match, Employee Discounts, Personalized advice, Brokerage discounts

  • Work/Life Balance: Sabbatical, New Mothers returning to work Program, Tuition Reimbursement Programs, Time off to volunteer

  • Inclusion: Employee Resource Groups, Commitment to diversity, Strategic partnerships

  • Not just a job, but a career, with an opportunity to do the best work of your life

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