Position located on-site in Concord, CA
Line of Business Description: As a Bank of America Mortgage Corporate Underwriter you will be responsible for but not limited to the underwriting of residential loans ensuring compliance with appropriate company and secondary market investor standards. A Mortgage Underwriter will be responsible for examining loan documentations for accuracy and completeness while working with loan originator or production staff to secure all required documents. You may be required to work with more senior mortgage underwriters on loan exceptions having the authority to withdraw and decline loans. Mortgage Underwriters may be involved in one or several types of mortgage lending (conventional, government-backed, etc.) You may also be required to respond directly to individual and investor audits. This job code includes all levels of underwriting authority and exception levels.
Enterprise Description: Conventional SASE Level 6 and 7 underwriters currently support a very high risk and complex segment of mortgage underwriting and analysis. Primarily in the $1mm+ loan amounts, many of these transactions require in depth individual and corporate tax return analysis for self employed applicants and/or executives with layered ownership interests in multiple companies and or entities. Asset review oftentimes is equally complex due to higher net worth borrowers with multiple sources and percentages of liquidity including cash, vested stock shares, unvested restricted stock, multiple retirement vehicles and equity ownership interests that must be utilized for qualifying purposes using different qualifying guideline parameters. Currently the requirements to be approved for this level of certification are the most stringent: Greater than five (5) years manual underwriting experience, including signing on loans greater than $2.0M and making business decisions. This position is subject to SAFE Act registration requirements. Pursuant to the SAFE Act requirements, all employees engaged in residential loan mortgage originations must register with the federal registry system and remain in good standing. Since your position requires SAFE Act registration, you will be required to register and to submit to the required SAFE Act background check and registration process. Failure to obtain and/or maintain SAFE Act registration may result in disciplinary action up to and including termination.
Required Skills and Experience
Desired Skills and Experience
Shift:1st shift (United States of America)
Hours Per Week:40
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