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.
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. Achieve optimum performance and efficiency consistent with company policy and governmental regulations.
The underwriter must be 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. The underwriter is responsible for performing diligent and thorough research and analysis which is the basis for approving a sound transaction. Adherence to credit administration procedures and strong credit analysis skills will result in informed credit decisions, a higher quality loan portfolio and ultimately lower loan losses.
This a full-time position in our Westlake Village headquarters.
Duties and Responsibilities
- Primary focus on the underwriting needs of VMC’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 VMC’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 VMC 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
- Will work closely with support staff such as account executives, processors, secondary and corporate funding department, portraying positive and can-do attitude towards all
Required Skills and Experience
- Preferred 6+ years of underwriting experience
- Understanding of legal, regulatory, economic, competitive and technological environments which potentially affect real estate lending programs
- Expertise in multiple underwriting specializations
- Extensive understanding of underwriting systems and their interdependencies
- Advanced computer skills
- Bachelor’s degree preferred
Our benefits package includes medical, dental and vision insurance without having to wait 90 days. Benefits begin on the first day of the month following 30 days of employment. We offer 401K match and multiple paid holidays.