Mortgage Underwriter - Westlake Village, United States - Velocity Mortgage Capital

Velocity Mortgage Capital

Verified Company

Westlake Village, United States

4 days ago

Posted by:

Mark Lane

beBee recruiter

Description

Mortgage Underwriting
Velocity Commercial Capital, LLC is a wholly-owned subsidiary of Velocity Financial, Inc, an NYSE-listed public company.

Velocity Commercial Capital is a real estate finance company founded in 2004 that primarily originates and manages investor loans secured by 1-4 unit residential rental and small commercial properties.

Velocity Mortgage Capital is seeking to hire a full-time Underwriter. This position is located at the corporate offices in Westlake Village, CA.

Summary of Position

Under limited supervision, this position is accountable for performing credit analysis and underwriting/ risk management decisions on all loans to ensure compliance with company and regulatory criteria.

Achieve optimum performance and efficiency consistent with company policy and governmental regulations.

The underwriter must be proficient at analyzing financial data, industry knowledge and existing economic conditions to formulate quantitative and qualitative opinions on the borrower/guarantor, property and the prospective loan structure.

The underwriter is responsible for performing diligent and thorough research and analysis which is the basis for approving a sound transaction.

Adherence to credit administration procedures and strong credit analysis skills will result in informed credit decisions, a higher quality loan portfolio and ultimately lower loan losses.

Primary Responsibilities Include:

Primary focus on the underwriting needs of VMC's corporate region. Must be able to assess submitted loans and bring to disposition that meets guidelines specific to the approved product with timely turn times
Must have a strong working knowledge of all loan processing, title and escrow procedures as well as VMC's underwriting guidelines and current programs in order to provide guidance and training to brokers, staff processors and loan officers
Reviewing, examining and underwriting loans to ensure soundness, business value and compliance with VMC standards
Assessing loan attributes and documentation for soundness and accuracy
Reviewing, evaluating and synthesizing data to ascertain loan viability and identify risk issues and potential fraud
Evaluating debt coverage ratios, credit score, property valuation and various other factors
Determining and documenting loan conditions and communicating requirements and/or decisions
Assisting in identifying, recommending and/or negotiating alternative loan requirements, funding and/or loan structuring solutions
Providing input on new and/or existing underwriting processes, procedures and/or approaches
Identifying and recommending alternatives regarding loanstructuring and financing solutions
Reviewing and analyzing special conditions, loan deficiencies and exception requests to determine appropriate courses of action
Will work closely with support staff such as account executives, processors, secondary and corporate funding department, portraying positive and can do attitude towards all

Requirements:

Bachelor's Degree, preferred
Preferred 6+ years of underwriting experience
Understanding of legal, regulatory, economic, competitive and technological environments which potentially affect real estate lending programs
Expertise in multiple underwriting specializations
Extensive understanding of underwriting systems and their interdependencies
Advanced computer skills
Advanced customer

- interface skills

Benefits become effective on the first day of the month following 30 days of employment and include: