Residential Mortgage Risk Officer

About the Role

Responsible for the underwriting of the Bank's residential lending correspondent/agency (FNMA/FHMLC) programs as well as portfolio underwriting. Is proficient and adheres to Bank and Investor credit and collateral loan policies and procedures. Ensures each mortgage loan is underwritten in accordance with all investor guidelines and in compliance with government regulations applicable to the residential underwriting guidelines, office operations and support staff functions. Makes sound lending decisions within their board assigned lending authority up to $500,000. Responsible for supporting the bank's residential lending programs by providing services of underwriting for all residential loan products and monitoring CRA loans guidelines, requirements and change

What You'll Do:

Primary duties and responsibilities include underwriting residential loans to render a lending decision, with the ability to decision conventional agency (FNMA, FHLMC); portfolio loans including construction loans and CNB jumbo loans while maintaining quality control of new loans which is essential to the sound business operations of the bank.
• Given the lack of automated systems and lack of automated preliminary decisions by scheduled systems for portfolio loans, you will be responsible to make sound decisions within own lending authority up to $500,000 and makes recommendations for loans requiring exception approval authority, based on your own independent analysis and interpretations of cash flows, and banking lending risk guidelines (75% to 100% manual non-automated portfolio- residential underwriting).
• In line with our culture of regulatory excellence, ensures by applying good judgement of that loan, the Bank new loans and existing reviews and renewals, meet the soundness required in our business operation.
• Underwrites all residential mortgage loans according to bank's and/or investor guidelines. Makes loan decisions to approve or decline (within "Loan Authority" limits) and recommends approval for loans requiring a higher level of authority.
• Underwriting includes calculation of debt ratios, and using FNMA Desktop Underwriter / Originator, FNMA Collateral Underwriter, FNMA Uniform Collateral Data Portal, FHLMC Loan Prospector, and FHLMC Loan Advisor Suite.
• Analyzes challenging loan packages to render sound credit solutions in order to maximize organizational profit and minimize risk or loss, working within a set time frame to complete the files accurately.
• Analyzes and calculates income, debt to income ratios, cash to close, reserves after closing, credit report including payment history, public records, OFAC and fraud alerts. In addition, analyzes property appraisal and appraisal review to ensure property is acceptable, and reviews wind insurance, hazard insurance and flood insurance to determine if the property is adequately insured.
• Reviews files to ensure loan is within all federal and state regulatory compliance such as HMDA and all fair lending regulations including but not limited to Reg Z, Reg B and ECOA to ensure sound business operations.
• With independent judgment analyzes financial statements, personal tax returns and multiple business tax returns, and prepares cash flow analysis, for fraud detection, red flags and validation for underwriting in a timely manner.
• Based on own judgment, critical thinking, and analysis recommends and counteroffers alternatives to be offered by RM to those not qualifying for the original loan desired and renders credit decisions within specific set time frame that minimize risk to Bank and maximize profit.
• Flags loan applications that appear suspicious or that may contrary to the client's best interest.
• Provides solution and alternatives for documentation and closing issues and provides back up to Consumer Risk Underwriting Officer as needed.
• Communicates with both internal and external customers to resolve issues throughout the underwriting process.
• Maintains accurate records utilizing a Paperless environment.
• Keeps informed of trends and developments in local real estate market. Stays abreast of changing regulations and investor guidelines.

• 5-7 years of residential mortgage loan underwriting experience, with specific experience in FNMA and FHMLC. Required
• Correspondent lending experience Preferred
• Expert with Fannie Mae DU/DO and Freddie Mac LP programs and policies.
• Knowledge of federal and state regulatory requirements.
• Thorough understanding of credit, underwriting, credit policy, and financial analysis in portfolio underwriting.
• Strong analytical and decision-making skills.
• Knowledge of Fannie Mae Desktop Underwriter and Freddie Mac Loan Prospector.
• Ability to effectively present information and respond to questions from groups of managers, borrowers, and internal/external clients.
• Ability to work with Origination and Processing staff.
• Must be familiar with fraud detection techniques.
• Microsoft Office proficiency required.
• Encompass LOS knowledge preferred.
• Ability to manage by taking charge and directing others.
• Leads by building commitment and keeping others involved and takes a strategic approach to problem-solving and/or decision-making.

• Bachelor's Degree in Business, Real Estate or related field, or an equivalent combination of education and relevant professional experience, may be considered.

City National Bank of Florida is an Equal Opportunity Employer and is committed to providing equal employment opportunities to all applicants. We do not discriminate on the basis of race, color, religion, sex, pregnancy, national origin, age, disability, genetic information, protected veteran status, or any other status protected under federal, state, or Florida law. City National Bank of Florida complies with the Americans with Disabilities Act (ADA) and applicable Florida laws. Qualified individuals with disabilities who require a reasonable accommodation in order to complete the online application or participate in the hiring process may contact our Human Resources Talent Attraction Department at 305-577-7207 or by email at talent.attraction@citynational.com.