Real Estate Senior Underwriter

Sr. Underwriter – Residential and Multifamily (Redwood City, CA)

*** This position requires you to work 100% onsite for the first 90 days at corporate HQ in Redwood City, CA. Thereafter, a hybrid schedule of 4 days onsite and 1 day remote is available **

Job Summary:

To review and underwriting residential mortgage loans and multifamily mortgage loans in a timely manner, that adhere to the credit standards set by the Credit Union for inclusion in the Credit Union's loan portfolio or for sale on the secondary market.

Why Provident?

Provident Credit Union was established in 1950 and we rank among the top 10% of credit unions in the US. We believe having a culture that is accepting, supportive, diverse, and inclusive makes us all better. Provident has been a Bay Area “Top Workplace” since 2017, and our employees rank us on Glassdoor as one of the best credit unions in the nation.

Our values are:

• Listen
• Get Better
• Do What’s Right

Essential Functions:

• Make credit decisions on residential loans (1st & 2nd mortgages) as well as multi-family loans within established lending limits and provide approval within established credit limits, written recommendations for loans to be approved above the underwriter’s individual credit limits and request any documentation necessary to support lending decisions.
• Underwrite and evaluate loan submissions (1st, & 2nd mortgages) according to investor (Agency) and the credit union’s credit guidelines. Perform analysis with and/or without the assistance of an automated underwriting system to determine borrowers’ credit worthiness and ability to repay the mortgage debt. All approved loans must meet the established credit union’s quality standards.
• Review and verify documents in loan files including but not limited to income documents, asset documents, property documents, appraisal reports, credit reports, title reports, and HOA cert. Validate the loan application and supporting documentation and verify that the system reflects the correct information. Update system of record when required. Ensure all required property information is in the system.
• Run, review, and interpret DU/LP findings, when applicable. Confirm required documents are complete, accurate and up to date. Document the system with applicable dates and information. Review credit memos for completeness and accuracy for multifamily loans.
• Sign off on underwriting loan conditions according to underwriting guidelines. Re-underwrite loans when additional or new information has been received. 
• Complete all required underwriting worksheets and/or checklists.
• Work with processors and loan closers to ensure timely closing of loans and meeting the required service standards.
• Help the department improve the underwriting process and procedures. Assist in the development of underwriting standards and the maintenance of all Loan Product Summaries. Answer and research general underwriting scenario and guideline questions.
• Maintain a thorough working knowledge of current loan underwriting guidelines and practices, California real estate law as it pertains to credit unions, and Provident's mortgage lending policies.
• Assist mortgage consultants and processors on credit, income, property and asset analysis of loan transactions.
• Provide training and mentor junior underwriters