Position: Loan Specialist
Location: Palo Alto, CA 94306
Term: 12 Months
In Relationship Management Team Support, we document, process and underwrite both residential and commercial loans. We provide exceptional client service to internal and external partners. We support our Relationship Managers in all aspects of the loan process to ensure that we are delivering a seamless lending experience to our clients.
- 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 Customer Bank loan program criteria and are accurately documented.
- 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.
- Validates the data entry to the appropriate Loan Origination System and evaluate all applicable documentation as required by job function and conditions loan accordingly.
- 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.
- Maintains knowledge of loan product guidelines, internal policies and procedures, and regulatory requirements.
- Reviews applications and all pertinent disclosures to ensure compliance with all Federal, State, investor requirements and bank policies are met and upheld
- Communicate with Relationship Managers and Client Services Specialist on collecting information and documentation necessary to finalize incomplete loan packages
- 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 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.
- 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.
- Partner with the Closing/Funding Department to ensure a timely closing. Work with escrow/closing agents to coordinate closings.
- Providing excellent customer service and ensuring the customer relationship is maintained and the highest possible level
- Performs other duties & responsibilities as required or assigned by supervisor.
- Responds to post closing review and quality control audits in a timely fashion
- Responsibilities include the following: 1) adhering to and complying with the applicable, federal and state laws, regulations and guidance, including those related to Anti-money laundering (i.e. Bank Secrecy Act, US PATRIOT Act, etc.) 2) adhering to Bank policies and procedures, 3) completing required training, 4) identifying and reporting suspicious activity to the AML Officer, and 5) knowing and verifying the identity of any customer(s) that enters into a relationship with the Bank.
Is this a good fit? (Requirements)
- 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.
- 3-5+years' experience in loan processing,
- In-depth knowledge of CRA products and industry.
- 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
- Ability to prioritize multiple tasks in a deadline-driven environment; strong sense of urgency and responsiveness.
- Strong organizational skills, with the ability to manage multiple assignments and priorities is essential while delivering desired results
- Strong teamwork and partnering skills with ability to effectively manage the expectations of multiple internal/external constituents.
- Excellent analytical skills; ability to quickly understand complex problems and recommend solutions.
- Strong knowledge of complex personal and business financial analysis, tax returns and balance sheet analysis, including cash flow analysis.
- Effective written and verbal communication/presentation skills.
- Intermediate skills in computer terminal and personal computer operation;
- Microsoft Office applications including but not limited to: Word, Excel, PowerPoint and Outlook
- Demonstrates knowledge of, adherence to, monitoring and responsibility for compliance with state and federal regulations and laws as they pertain to this position including but not limited to the following: Regulation Z (Truth in Lending Act), Regulation B (Equal Credit Opportunity Act), Fair Housing Act (FHA), Home Mortgage Disclosure Act (HMDA), TILA RESPA Integrated Disclosure (TRID), Real Estate Settlement Procedures Act (RESPA), Fair Credit Reporting Act (FCRA), Bank Secrecy Act (BSA) in conjunction with the USA PATRIOT Act, Anti-Money Laundering (AML) and Customer Information Program (CIP), Right to Financial Privacy Act (RFPA, state and federal) and Community Reinvestment Act (CRA).
- Must be able to review and analyze data reports and manuals; must be computer proficient.
- Must be able to communicate effectively via telephone and in person.
About our client:
Founded in 1985, our client and its subsidiaries offer private banking, private business banking and private wealth management, including investment, trust and brokerage services. Join a team that continues to make significant investments in its digital solutions, including upgrading our consumer-facing technology.