SENIOR LOAN UNDERWRITER (HOME LOAN PROGRAM)

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DEPARTMENT OVERVIEW

The Office of Loan Programs designs, delivers and manages housing assistance programs for the recruitment and retention of faculty and senior managers in support of the education, research and public service missions of the University of California. We are the systemwide source of mortgage lending products for eligible faculty and senior managers. We strive to maintain superior customer satisfaction by providing timely, accurate and cost-effective mortgage products, researching new product alternatives and evaluating industry processes and changes to continually improve delivery of services.

POSITION SUMMARY

The Senior Loan Officer (Home Loan Underwriter) uses knowledge of loan origination and underwriting concepts to complete underwriting evaluation of mortgage loan applications. Utilizes understanding of industry practices and University policies and procedures; resolves a wide range of issues in consultation with supervisor. Works on underwriting issues of diverse scope where analysis of data requires evaluation of identifiable factors. Demonstrates good judgment in selecting methods and techniques for obtaining solutions. Implements loan origination processes associated with the University of California Employee Housing Assistance Program (Program). Includes the origination and approval of new loans to eligible Program participants to assist with recruitment and retention efforts. Activities include working closely with loan applicants, evaluating loan applications in accordance with University policy and applicable industry standards, and adhering to all lending guidelines and compliance requirements. This position is an 'Assigned Employee' as defined in the University of California Home Loan Program Corporation Services Agreement dated February 1, 2014, by and between the Regents of the University of California and the University of California Home Loan Program Corporation, a California non-profit public benefit corporation. The Corporation was formed to assume the residential lending activities of the Office of Loan Programs.

Responsibilities

75% Loan Underwriting:

• Review, evaluate and analyze loan application packages to ensure loan applicants provide required application, property and credit information and documentation. Perform analysis of applicant's income, assets and credit.
• Evaluate application package for credit risk and exceptional conditions that may negatively affect the actual value of the home, future marketability of the house, and ultimately, the University's security interest in the property.
• Documents requiring evaluation, including but not limited to: Purchase contract, Structural/Pest Control Report, Credit report, Preliminary title report, Property appraisal and analysis, and other property inspection reports, as needed.
• Prepares, reviews and sends loan disclosures and documents while ensuring accuracy and compliance with federal and state regulations.
• Coordinate with campus home loan coordinators, escrow officers, real estate agents, insurance agents and program participants to ensure prompt submission of required documentation.
• Prepare loan approval or disapproval recommendations to management based on review and analysis of all required documentation.

10% Procedure Development and Analysis:

• Provide analytical support in responding to questions regarding loan program policies, eligibility requirements, financial qualification, and property valuation.
• Provide analytical support in developing and implementing procedures and recommending process improvements.

10% Compliance:

• Completes underwriting responsibilities in accordance with University policy and applicable industry standards and adhering to all lending guidelines and compliance requirements.
• Provides analytical support in developing and implementing procedures for department compliance with University policy, Federal and State laws, and regulations governing residential lending activities.
• Keeps abreast of changing residential lending guidelines in the industry. Maintains knowledge and understanding of mortgage lending rules, regulations, laws, and all policies and procedures pertaining to them including but not limited to, ECOA, RESPA, and TILA.

5% Information Systems Support:

• Provide analytical support in the overall design and delivery of web-based business processes for loan origination.
• Review and manage website content to ensure that program policies are correctly reflected in the on-line content.
• Serve as a backup point of contact for any Loan Origination System changes, particularly those associated with regulatory compliance.

Experience

• Minimum of 5 years of relevant work experience required.

Required Qualifications

• Extensive knowledge of loan processing and underwriting practices and procedures, and experience working in the mortgage lending industry or related field.
• Demonstrated ability to independently perform financial analysis and formulate recommendations based upon the results of the analysis.
• Demonstrated excellent oral and written communication skills for communicating with program clients at many levels of the organization, as well as outside contacts.
• Proficiency in the use of common desktop and web applications.
• Familiarity with standard mortgage industry loan origination systems.
• Knowledge of standard single-family lending, title insurance, hazard insurance, flood insurance and escrow practices in California.
• Experience working in the mortgage lending industry in a loan underwriting capacity.

Education

• Bachelor's degree in Business Administration, Real Estate or related field, and/or the equivalent combination of education and experience in a directly related field required.

Licenses and Certifications

• California Real Estate License preferred

SPECIAL CONDITIONS

The person hired will be required to reside within California and report to work on-site at UC's Office of the President (UCOP) located in Oakland, CA on a regular basis. Current policy requires that a new employee work on-site at least two days per week on Tuesday and Wednesdays ('anchor days').

SALARY AND BENEFITS

Job Title: Loan Origination Officer 3

Job Code: 005663

Salary Grade: 21

Payscale: $90,000 - $105,000 annual, commensurate with experience

The University of California, Office of the President, is required to provide a reasonable estimate of the compensation range for this role. This range takes into account the wide range of factors that are considered in making compensation decisions including but not limited to experience, skills, knowledge, abilities, education, licensure and certifications, and other business and organizational needs. It is not typical for an individual to be offered a salary at or near the top of the range for a position. Salary offers are determined based on final candidate qualifications and experience.

Benefits: For information on the comprehensive benefits package offered by the University visit: Benefits of Belonging