Bay Equity LLC

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Underwriter III

at Bay Equity LLC

Posted: 8/15/2019
Job Reference #: 1111856
Categories: Insurance
Keywords: underwriting

Job Description

Underwriter III

Department:Credit Corporate
Location:Open, TX

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

Job purpose:

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

Personal Attributes:

• 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

Working conditions:

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.


Direct reports

N/A

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.