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Credit Analyst I
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Collateral Underwriter - Austin, United States - Bay Equity
Description
Job Description
Job DescriptionBay Equity is a full-service retail mortgage lending institution headquartered in Corte Madera. In 2011 and 2012, San Francisco Business Times named Bay Equity among its "Top 100 Fastest-Growing Private Companies" in the Bay Area. Bay Equity has operations centers in California, Oregon, Washington, and Colorado.
We are hiring a Collateral Underwriter to work remotely for our team.
Job purpose:
Candidate is responsible for all functions related to analyzing and evaluating appraisals to meet lending standards & program guidelines. The individual is required to have their FHA DE/CHUMS and their VA LAPP/SAR certification. Candidate must possess knowledge of the mortgage loan process, appraisal review process, and knowledge of FNMA/FHMLC, FHA, and VA underwriting guidelines. This is not a position for a checklist reviewer but for an experienced & knowledgeable appraisal underwriter. Someone who can analyze, compare, & bring to conclusion complex data within the appraisal to ensure accuracy, compliance, value, & marketability support. In addition, they should have strong organizational and accuracy skills with the ability to work independently in a fast-paced team environment.
Duties and responsibilities:
• Review & Underwrite appraisal to ensure the appraisal meets investor and program criteria. Minimum standard of 8-10 appraisals per day with a turn time of 24 hours or as set by collateral underwriting manager.
• Extensive knowledge of Appraiser Independence Requirements (AIR).
• Training and direct experience with in-depth residential appraisal reviews for value, marketability, & eligibility.
• Experience & working knowledge of the appraisal forms. Ability to compare and analyze the comparable grid section and all features of a residential appraisal for single-family, multi-family, condo, and manufactured homes.
• Review FNMA CU findings and address discrepancies. Confirm appraisal is completed to appraisal standards.
• Request appropriate appraisal revisions while maintaining AIR compliance.
• Review appraisal corrections & updates, as well as desk reviews and field reviews.
• Review appraisal against title, flood cert, purchase agreement, etc. for accuracy & consistency.
• Thorough knowledge of appraisal requirements for lending is required.
• Calls out appraisal decision to branch with all appropriate conditions.
• Timely & professional communication is required at all times.
• Other duties as assigned.
Qualifications and Job Skills:
• Minimum 5 years Mortgage Underwriting experience.
• Minimum of 3 years Appraisal Underwriting experience and training.
• Current FHA DE certification is required; VA SAR certification is a plus.
• Experience using the FNMA CU tool, Outlook, and Encompass.
• Ability to work quickly & efficiently to handle high volume to meet productivity standards while maintaining excellent quality.
• Thorough knowledge of Agency/Investor lending guidelines and ability to quickly learn & keep up with changing Agency/Investor guidelines and/or company processes.
• Ability to handle confidential material in a professional and ethical manner.
• Excellent written and verbal communication skills.
• Attention to detail is a must, as well as accurate and detailed data entry.
• Ability to work & problem solve independently.
• The ability to make solid guideline-based lending decisions and support those decisions.
• A positive can-do attitude and a willingness to exceed expectations.
We offer a comprehensive benefit package including medical, dental, vision, life insurance, 401k, and paid time off. Compensation is based on experience. Please see our website for more details on our company. This is a full-time position.
Bay Equity is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, disability, age, sexual orientation, gender identity, national origin, veteran status, or genetic information. Bay Equity is committed to providing access, equal opportunity, and reasonable accommodation for individuals with disabilities in employment, its services, programs, and activities. To request reasonable accommodation, contact our Human Resources Department at , or call 415/
