Job Description
MORTGAGE LOAN UNDERWRITER SENIOR
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WHAT IS THE OPPORTUNITY?
The role of the Underwriter III is to evaluate the credit risk against company standards and to determine the borrower's ability to repay a residential mortgage. The Underwriter III analyzes and interprets complex financial and non‑financial data, making decisions that achieve optimal quality assets for the bank while satisfying the needs of borrowers. The Underwriter III also handles LLCs and other complex borrower types, operating within established lending authorities and guidelines. Complex or unusual situations are escalated to the next highest authority level for resolution. The role includes mentoring and training of Underwriters I and II, including second‑level reviews.
What You Will Do
Review loan packages to ensure completeness and verify supporting documents for credit decisions per policy.
Identify issues and recommend appropriate resolutions within policy service level agreements.
Analyze and determine the borrower’s financial capacity to repay, including cash flow and liquidity qualification.
Verify income per established policy and assess employment stability.
Identify any exceptions to current policies.
Document a reasonable conclusion mitigating identified risks to support request repayment.
Set and clear conditions accurately.
Interact with RLC and Processor throughout the loan life cycle, providing information, updates, and assistance.
Update system(s) with pertinent information and data as required.
Render a decision within lending authority or recommend a decision for higher‑level approval if outside authority.
Generate appropriate client letters (Commitment, Counter Offer, Declination).
Certify and provide a final workbook to the processor.
Ensure compliance with bank and regulatory guidelines.
Promote client satisfaction and a positive team environment.
Collaborate on continuous improvement initiatives.
Support RLC and Processor when required and update status of loans.
Communicate daily with all levels to support business units, processors, and funding/prep staff.
Provide timely, complete, accurate responses to inquiries.
Handle all situations professionally and ethically.
Lead problem resolution for own loans and assist Underwriters I and II.
Contribute to quality and customer satisfaction goals of the bank.
Meet productivity, quality control, and data integrity standards.
Maintain and utilize available systems, workflow, and imaging tools.
Mentor and train Underwriters I and II; provide second‑level review of their work.
Perform other duties as assigned by management, including process improvement initiatives.
Must-Have
Minimum 7 years of experience as an Underwriter in a mortgage banking environment.
Minimum 7 years of experience underwriting jumbo and super jumbo loans under investor or organizational guidelines.
Minimum 7 years of experience with state and federal lending regulations (ATR, RESPA, Reg B, Reg O, Reg Z, Fair Lending, etc.).
Skills And Knowledge
Bachelor’s degree in Business, Finance, Economics, or related discipline with 10+ years of experience in a mortgage banking environment.
Familiarity with FNMA/FHLMC guidelines.
Computer literacy with mortgage‑industry software (e.g., InterLink E3, NetOxygen/Gallagher).
Excellent written and verbal communication.
Strong time‑management and organization skills for high daily loan volume.
Exceptional detail orientation.
Team‑player mindset and constructive collaboration.
Knowledge of funding and loan documentation for LLCs, irrevocable trusts, and cooperatives.
Compensation
Starting base salary: $41.83 – $66.81 per hour. Exact compensation may vary based on skills, experience, and location. This job is eligible for bonus and/or commissions.
Benefits and Perks
City National Bank offers a competitive benefits package. Get an inside look at our benefits and perks below.
About City National
City National Bank, a subsidiary of Royal Bank of Canada, is the largest bank headquartered in Los Angeles with $92.03 billion in assets (as of April 30 2024). Founded in 1954, City National provides personalized banking, investment, and trust services in select markets including Los Angeles, Orange County, San Diego, the San Francisco Bay Area, New York City, Nashville, Atlanta, Delaware, Las Vegas, Washington D.C., and Miami.
City National is dedicated to strengthening communities and, in 2023 alone, made over $11 million in charitable contributions to nonprofits.
EQUAL OPPORTUNITY EMPLOYER & REASONABLE ACCOMMODATION
City National Bank is an equal‑opportunity employer committed to a diverse, equitable, and inclusive work environment. All qualified applicants will be considered without regard to race, color, religion, sex, gender identity, sexual orientation, national origin, disability, veteran status, or any other protected basis. If you are a qualified individual with a disability, you have the right to request reasonable accommodation. Contact us at (213) 673‑9139 or email for accommodation requests.
Unless otherwise indicated as fully remote, reporting into a designated City National location is an essential function of the job.
Seniority level: Not Applicable
Employment type: Full‑time
Job function: Finance and Sales, Banking
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Job Tags
Hourly pay, Full time,