First Republic Bank
Loan Specialist will be responsible for ensuring that all Residential loans are processed and underwritten in a timely manner while meeting all regulatory compliance and achieving a high level of customer service. Responsibilities primarily focus on processing, underwriting, customer care and relationship management.
- Communicate with Relationship Managers and Client Services Specialist on collecting information and documentation necessary to finalize incomplete loan packages
- Reviews applications and all pertinent disclosures to ensure compliance with all Federal, State, investor requirements and bank policies are met and upheld
- Validates the data entry to the appropriate Loan Origination System and evaluate all applicable documentation as required by job function and conditions loan accordingly.
- Utilize and apply FNMA, QM, ATR and investor guidelines to ensure that all loans comply with industry standards & guidelines.
- Underwrites all types of income, all product types including ethical and salable residential mortgage loans and consumer loans and evaluate risk while insuring the quality of each loan submitted.
- Responds to post closing review and quality control audits in a timely fashion
- Performs other duties & responsibilities as required or assigned by supervisor.
- Reviews, requests and satisfies the following when applicable: subordination of liens, HUD/Master Settlement Statement, credit supplements, HOA documentation, evidence of homeowner’s insurance, verifications (VOE, VOM, VOR, etc.) and clearance of judgments and liens on title and or credit.
- Collaborate with Relationship Managers (RMs) and Executive Loan Committee (ELC) to help determine appropriate loan product(s), loan amounts, and optimal structure. Qualify loans for approval and demonstrate ability to package deals effectively for RMs to present to ELC.
- Maintains knowledge of loan product guidelines, internal policies and procedures, and regulatory requirements.
- Providing excellent customer service and ensuring the customer relationship is maintained and the highest possible level
- Partner with the Closing/Funding Department to ensure a timely closing. Work with escrow/closing agents to coordinate closings.
- Ability to meet productivity expectations in a fast paced, high volume environment with pipeline and conditions management, while maintaining acceptable quality and client satisfaction results
- Cross trains other team members, when applicable.
- Maintains an open line of communication and correspondence between involved parties. This includes and is not limited to Borrower, Escrow, Title, ELC, RM, CS, Processor, Closer, Funder, Appraisal Desk, Rate Lock Desk and Investor Support Desk.
- Analyze each loan file, ensuring the Loan Approval Worksheet (LAW form), loan narrative (if applicable), appraisal(s), application, preliminary title report and verifications meet secondary market and First Republic Bank loan program criteria and are accurately documented.
Qualification & Experience:
- Strong teamwork and partnering skills with ability to effectively manage the expectations of multiple internal/external constituents.
- Strong knowledge of complex personal and business financial analysis, tax returns and balance sheet analysis, including cash flow analysis.
- Bachelor’s Degree or equivalent work experience
- 5+ years’ experience in underwriting and related analysis, including experience with Fannie Mae transactions with an affordable emphasis.
- Excellent analytical skills; ability to quickly understand complex problems and recommend solutions.
- Intermediate skills in computer terminal and personal computer operation; Microsoft Office applications including but not limited to: Word, Excel, PowerPoint and Outlook
- Experience with down payment assistant programs such as GSFA, MCC, Cal HFA, LIPA, MIPA, WISH and other County/ City programs
- Expert-level knowledge of overall lending processes, including underwriting, funding, and loan processing
- Strong organizational skills, with the ability to manage multiple assignments and priorities is essential while delivering desired results
- In-depth knowledge of CRA products and industry.
- 3-5+years’ experience in loan processing,
- Effective written and verbal communication/presentation skills.
- Ability to prioritize multiple tasks in a deadline-driven environment; strong sense of urgency and responsiveness.
Company: First Republic Bank
Vacancy Type: Full Time
Job Location: San Diego, CA, US
Application Deadline: N/A