Consumer Loan Underwriter (SAFE) 4
Consumer Lending is an industry leader in supporting homeowners and consumers. We put customers at the center of all that we do. We make every decision - and design every product and service - with our customers in mind.
It starts with you. We must attract, develop, retain and motivate the most talented people - those who care and who work together as partners across business units and functions. We value and promote diversity and inclusion in every aspect of our business and at every level of our organization.
The Consumer Lending team includes Home Lending, Personal Lending, and Dealer Services, including the professional services teams that partner with these businesses and other key partners.
- Join the #1 Mortgage originator and servicer ( Source: Inside Mortgage Finance )
Our Mortgage team supports the nation's leading originator and servicer of residential mortgages.
Our Non Conforming Underwriting Team Continues to Grow!!
Responsible for reviewing, analyzing, approving and underwriting difficult, complex individual consumer requests and products within company and industry guidelines.
Dependent on division, functions include reviewing financial statements, credit reports, and applicable ratios(i.e. Debt ratios, loan-to-value); examining transactions to ensure accuracy and completeness; preparing formal reports for review; ensuring that documents are consistent and uphold to company and industry guidelines; implementing fraud detection techniques, performing compliance reviews; assisting with re-negotiations of loans based on lending guidelines, serving as a consultant/technical resource on difficult problems and questions; handling escalated calls: providing work direction, feedback and training to underwriting staff including mentoring lower level underwriters on credit decisioning, department procedures and policies; delivering/facilitating of technical training to ensure organizational consistency. Has exception authority. May act as a team lead and provide performance feedback to less senior underwriters. May act as backup in absence of Supervisor.
This SAFE position has customer contact and job duties which may include the offering/negotiating of terms and/or taking an application for a dwelling secured transaction. As such, this position requires compliance with the S.A.F.E. Mortgage Licensing Act of 2008 and all related regulations. Ongoing employment is contingent upon meeting all such requirements, including acceptable background investigation results. Individuals in a SAFE position also must meet the Loan Originator requirements under Regulation Z (LO) outlined in the job expectations below.
- 5+ years of underwriting experience
- Basic Microsoft Office skills
- Strong analytical skills with high attention to detail and accuracy
- Excellent verbal, written, and interpersonal communication skills
- Ability to interact with all levels of an organization
- Knowledge and understanding of underwriting policies and procedures, investor guidelines, and regulatory updates
- Knowledge and understanding of underwriting: non-conforming loan process
- Experience with underwriting policies and procedures such as risk-layering and asset evaluation
- Knowledge and understanding of mortgage origination: review of income, asset, and credit documentation
- Ability to handle confidential material in a professional manner
- Ability to consult, build, and maintain solid working relationships in and outside of immediate department
- Experience coordinating multiple tasks within aggressive time frames
Other Desired Qualifications
- Non-Conforming/Jumbo underwriting experience
- Advanced income analysis which includes experience in reviewing Self-Employment, Corporate and Partnerships tax returns
- Advanced asset analysis and experience working with all types, and extensive experience with layering risk and evaluation
- This position requires SAFE registration at the time of employment. Wells Fargo will initiate the SAFE registration process immediately after your employment start date. The Nationwide Mortgage Licensing System (NMLS) web site (http://fedregistry.nationwidelicensingsystem.org ) provides the MU4R questions and registration required for employment in this position.
- Individuals in Loan Originator (LO) positions must meet the Consumer Financial Protection Bureau qualification requirements and comply with related Wells Fargo policies. The LO qualification requirements include meeting applicable financial responsibility, character, general financial fitness and criminal background standards. A current credit report will be used to assess your financial responsibility and credit fitness, however, a credit score is not included as part of the evaluation. Successful candidates must also meet ongoing regulatory requirements including additional screening, if necessary.
- This position requires compliance with all mortgage regulatory requirements and Wells Fargo's compliance policies related to these requirements including acceptable background check investigation results. Successful candidates must also meet ongoing regulatory requirements including additional screening and required reporting of certain incidents.
All offers for employment with Wells Fargo are contingent upon the candidate having successfully completed a criminal background check. Wells Fargo will consider qualified candidates with criminal histories in a manner consistent with the requirements of applicable local, state and Federal law, including Section 19 of the Federal Deposit Insurance Act.
Relevant military experience is considered for veterans and transitioning service men and women.
Wells Fargo is an Affirmative Action and Equal Opportunity Employer, Minority/Female/Disabled/Veteran/Gender Identity/Sexual Orientation.
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Lauren audits Wells Fargo’s financial reports to assess accuracy and risk. She reviews processes in place, analyzes management controls, and communicates calculations and findings with business partners.
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