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Mortgage Wholesale Underwriter

Fremont Bank Livermore, CA
  • Posted: over a month ago
  • Full-Time
  • Benefits: 401k, dental, life_insurance, medical, vision
Job Description

Are you ready for an exciting new, fast paced work opportunity?

Fremont Bank offers a very attractive employment package that includes:

  • Various Recognition Programs including Monetary Spot Bonuses!
  • Up to $5000 Tuition Reimbursement for continued education!
  • 10 Paid Bank Holidays!
  • Paid Vacation!
  • Paid Sick Time!
  • An ESOP (Employee Stock Ownership Plan) = Retirement Money!! 
  • 401K Plan with an employer match!


Fremont Bank founded in 1964, is one of the oldest independently owned banks in the Bay Area and is one of the top rated mid-tier banks in the nation. Voted a Top Workplace for 2019 and for the past nine consecutive years, Fremont Bank has an immediate opening for a Mortgage Wholesale Underwriter in Livermore, CA.

Position Overview

The Mortgage Wholesale Underwriter is responsible for reviewing, conditioning, analyzing and issuing decisions on mortgage loans originated from the Wholesale Channel. The Underwriter determines and assesses borrower’s creditworthiness and risk with sound analytics supported by file documentation. The Underwriter reviews the loan file in accordance with investor, regulatory, and Bank policies and procedures. The Underwriter is responsible for managing the loans from RESPA through shipping. The individual will be expected to provide superior client service to achieve financial objectives. Files must be reviewed in adherence to Bank service level agreements and the Underwriter must consistently produce accurate and quality work.

Role and Responsibilities

  • Train new employees
  • Working in a paperless environment
  • Navigating and updating the information in the Lending Operating System
  • Facilitating customer-centric behaviors and a superior customer experience for both internal and external customers
  • Keeping apprised of changes in Investor, Regulatory and Bank guidelines; integrating changes into daily processes
  • Demonstrating time management skills for pipeline management and reviewing loan files within established service level agreements
  • Meeting or exceeding daily production quotas
  • Verifying accuracy and completeness of loan files
  • Work with various departments to address, resolve, and improve file quality
  • Ordering the appropriate services (i.e. appraisal, flood) for the loan file per Bank policy
  • Conditioning for documentation on loan files; review received documentation, and sign off conditions when appropriate documentation is received
  • Reviewing, understanding and analyzing file documentation including Flood Certifications, credit reports, hazard insurance declarations, the Loan application (1003), purchase contract, and preliminary title reports
  • Reviewing and thoroughly analyzing appraisal reports including Single Family Residence, Multi family residence, Condominium, and PUDs Identifying Red Flags/Fraud Detection, mitigating risk
  • Experienced with LexisNexis, DataVerify Drive and FraudGuard or other automated quality control systems
  • Underwriting Condo Projects and issue necessary warranty
  • Ability to anticipate potential issues and develop solutions
  • Analyzing and calculating income based on documentation provided. Income types include but are not limited to self-employed, rental, salaried, bonus, overtime, commission, social security income, Pension income, IRA income
  • Strong knowledge of federal tax returns and self-employed income analysis based on FNMA 1084 form
  • Reviewing all types of asset statements for complete and accurate data, and adherence to investor and Bank guidelines
  • Demonstrate proficiency in automated underwriting applications DU and LP, and ability to analyze results.
  • Understanding and applying Fannie Mae and Freddie Mac guidelines
  • Developing and Issuing loan decisions including Counter Offer scenarios, Approvals and Declines
  • Preparing reports for management
  • Responding to e-mails and phone calls from internal and external customers within established service level agreements
  • Review QC findings and trends.
  • Identify opportunities for improvement and take necessary steps
  • Be available to Production staff for interpretations and questions in general or for specific loan files.
  • Other projects as assigned by management
  • Cross-train with various channels and departments in Third-Party Origination and Consumer Lending

Minimum Qualifications

  • A minimum of 2-3 years’ underwriting in a residential mortgage environment
  • Working knowledge with Fannie Mae and Freddie Mac guidelines
  • Demonstrated knowledge of Agency guidelines and regulatory updates
  • Must meet the Consumer Financial Protection Bureau loan originator qualification requirements
  • High School diploma or GED required; some college preferred
  • Excellent verbal and written communication skills with strong attention to detail
  • Excellent analytical and problem solving skills
  • Ability to work accurately and efficiently in a fast paced environment
  • Ability to handle competing priorities effectively and within established timeframes
  • Excellent interpersonal skills and positive attitude
  • Knowledgeable in automated underwriting systems is preferred but not required
  • Knowledge in Loan Origination System Empower a plus

Job Location: Livermore, CA

Ready to join the FUN!! Apply NOW ... click the link below

Fremont Bank

Why Work Here?

Voted a Top Workplace for nine consecutive years, Fremont Bank has lots of opportunities for growth, advancement and FUN!


2580 shea center drive
Livermore, CA

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