The ideal candidate is proficient at analyzing financial data, industry knowledge and existing economic conditions to formulate quantitative and qualitative opinions on the borrower/ guarantor, property and the prospective loan structure.
Velocity Mortgage Capital has an opening for a Senior Underwriter. Under limited supervision, this position is accountable for performing credit analysis and underwriting/risk management decisions on all loans to ensure compliance with company and regulatory criteria. The Senior Underwriter must be able to achieve optimum performance and efficiency consistent with company policy and governmental regulations.
This is a full-time, salaried position in our Irvine, CA office.
Duties and Responsibilities
- Primary focus on the underwriting needs of Velocity Mortgage Capital’s corporate region. Must be able to assess submitted loans and bring to disposition that meets guidelines specific to the approved product with timely turn times
- Must have a strong working knowledge of all loan processing, title and escrow procedures, as well as Velocity’s underwriting guidelines and current programs in order to provide guidance and training to brokers, staff processors and loan officers
- Reviewing, examining and underwriting loans to ensure soundness, business value and compliance with Velocity’s standards
- Assessing loan attributes and documentation for soundness and accuracy
- Reviewing, evaluating and synthesizing data to ascertain loan viability and identify risk issues and potential fraud
- Evaluating debt coverage ratios, credit score, property valuation and various other factors
- Determining and documenting loan conditions and communicating requirements and or decisions
- Assisting in identifying, recommending and/ or negotiating alternative loan requirements, funding and/ or loan structuring solutions
- Providing input on new and or/ existing underwriting processes, procedures and or approaches
- Identifying and recommending alternatives regarding loan-structuring and financing solutions
- Reviewing and analyzing special conditions, loan deficiencies and exception requests to determine appropriate courses of action
- Work closely with support staff such as account executives, processors, secondary and corporate funding department, portraying a positive and can-do attitude toward all
Required Skills and Experience
- 6+ years of underwriting experience
- Understanding of legal, regulatory, economic, competitive and technological environments that potentially affect real estate lending programs
- Expertise in multiple underwriting specializations
- Extensive understanding of underwriting systems and their inter-dependencies
- Advanced computer skills
- Bachelor’s degree preferred
Our benefits package includes medical, dental and vision insurance without having to wait 90 days. Benefits kick in on the first day of the month following 30 days of employment. We offer 401K match and multiple paid holidays.