Bay Equity LLC
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at Bay Equity LLC
Bay Equity is a full-service retail mortgage lending institution headquartered in Sausalito. In 2011 and 2012, San Francisco Business Times named Bay Equity among its "Top 100 Fastest-Growing Private Companies" in the Bay Area.
Job title: Underwriter III
Reports to: Underwriting Manager
FLSA: Exempt ? Non-Exempt X
An Underwriter III is responsible for analyzing and evaluating loan risk for Conventional, FHA and VA loans that receive DU Approve/Eligible, LP Accept, or Refer recommendations.
Duties and responsibilities:
• Evaluates file documentation to ensure loan meets Investor/Agency program criteria.
• Reconcile credit report to 1003 and insure that all liabilities are considered in AUS.
• Review and evaluate income, asset, collateral and title documentation per AUS findings and investor guidelines
• Issues credit decision based on underwriting review and program eligibility
• Communicates credit decision, including all appropriate conditions within established SLA
• Reviews and clear conditions within established SLA
• Responds timely to PFQC and Post Close findings
• Communicates to internal and external business partners in accordance with Bay Equity Vision and Core Values
• Ability to handle confidential material in a professional and ethical manner
• Performs manual underwrites with 2nd level reviews
• Other duties as assigned
Qualifications and Job Skills:
• Minimum 5+ years underwriting experience
• FHA DE delegation and VA LAPP/SAR
• USDA experience is a plus
• Experience with multiple financed properties and manufactured homes
• Experience with DU, LPA. Encompass experience a plus
• Thorough knowledge of Fannie Mae, Freddie Mac, FHA and VA guidelines
• Excellent communication skills, both written and verbal
• Time management and organization skills to effectively prioritize multiple tasks and achieve production focused goals
• Strong interpersonal skills to build and maintain professional relationships
• Ability to work under tight timelines
• Ability to work independently and be a team player
• Must be proactive and reliable
Position can be tailored for in office or remote from home. Requires occasional travel for training and meetings. Overtime as needed and approved by management.
We offer a comprehensive benefit package including; medical, dental, vision, life insurance, 401k, and paid time off. Competitive based salary. This is a full-time position.