Provident Credit Union · 3 months ago
Real Estate Senior Underwriter
Redwood City, CA, USA
Full-time
Hybrid
Senior Level, Lead/Staff
$93K/yr - $112K/yr
8+ years expProvident Credit Union, established in 1950, ranks among the top 10% of credit unions in the US and is known for its inclusive culture. They are seeking a Senior Underwriter to review and underwrite residential and multifamily mortgage loans, ensuring adherence to credit standards and supporting the loan portfolio's integrity.
BankingFinanceFinancial ServicesNon Profit
Responsibilities
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 and/or senior processors
Provide second signatures to loan decisions for underwriters with lower-level authority and help cover other underwriters’ files when needed
Respond to and correct internal and external audit findings when needed
Performs other duties as assigned
Excellent listening and speaking skills
Excellent written communication skills
Understand and adhere to BSA and OFAC policy and procedures
Qualification
Required
Bachelor's Degree in related area is preferred
8+ years of experience underwriting FNMA and FHLMC loan packages
Knowledge and experience in multifamily underwriting preferred
Excellent understanding of Freddie Mac / Fannie Mae and other jumbo investor's guidelines as well as portfolio guidelines
Perform credit analysis on all mortgage products
Excellent understanding of Freddie Mac /Fannie Mae and other jumbo investor's guidelines as well as portfolio guidelines
Knowledge of multifamily underwriting, to include: an understanding of DSCR calculations, Global Cash Flow analysis, Cap Rates and GRM's for property valuations, environmental assessments, and proficient writing skills to make recommendations for approval through the creation of Credit Memos
Strong understanding of multifamily ownership (non-natural entity) structures
Demonstrated expertise to use PC, Word, Excel, Windows and e-mail
Expertise in the use of multiple LOS systems used by Provident such us Encompass, including Freddie Mac & Fannie Mae automated underwriting
Must possess exceptional attention to detail, strong ability to prioritize, an ability to meet multiple deadlines, and a keen sense of urgency
Demonstrate excellence in mathematical, analytical and organizational skills
Working knowledge of California real estate law and general Federal, State, and City regulations
Communicate with internal/external clients
Research files and organize file documentation
Preferred
Knowledge and experience in multifamily underwriting preferred
Benefits
Quality medical, dental and vision care coverage
401(k) retirement plan with up to 150% matching employer contributions
Annual discretionary bonus
Generous paid time off and paid holidays
Flexible spending accounts
Employee Referral Bonus
Short and long-term disability coverage
Life and AD&D insurance
Provident membership
Rate discount on home and auto loans
Opportunity to use company owned condo in Maui and Lake Tahoe
Company
Provident Credit Union
Provident Credit Union specializes in banking with loans, mortgages, savings, insurance, investment advice for companies and NPCs.
201-500 employees
H1B Sponsorship
Provident Credit Union has a track record of offering H1B sponsorships. Please note that this does not
guarantee sponsorship for this specific role. Below presents additional info for your
reference. (Data Powered by US Department of Labor)
Distribution of Different Job Fields Receiving Sponsorship
Represents job field similar to this job
Trends of Total Sponsorships
2025 (2)
2024 (2)
2023 (1)
2021 (1)
Funding
Current Stage
Growth StageLeadership Team
J
Jim Ernest
President & CEO
W
Wayne Bunker
president/ceo
Company data provided by crunchbase