At First Republic, we care about our people. We offer extraordinary client service in private banking, private business banking, and private wealth management. Founded in 1985, we believe that personal connections are everything and our success is driven by the relationships we form with our colleagues and clients. You’ll always feel empowered and valued at First Republic.
Incredible teams doing exceptional work, every day.
Within the Lending Strategy, Products & Sales Department of First Republic, you will be part of a team that is integral to the Bank’s mortgage origination and balance sheet management activities through its contributions to our Secondary Marketing area. We monitor the mortgage market and recommend strategy, provide the Bank’s daily mortgage loan pricing, create new loan products, sell all loan assets for the Bank, manage pricing and products in multiple systems, and work collaboratively with Loan Teams and Executive Loan Committee to facilitate loan originations and successful secondary market transactions.
We are searching for an underwriter to assist in responding to loan sales’ credit/underwriting conditions. Due to the loan interest rate environment, the FNMA volume has increased tremendously and has been averaging 60 to 70 loans in the pipeline on a daily basis. We have 479 loans currently committed to FNMA (as of yesterday) for a total of roughly $195MM. The consultant would help with the daily underwriting workload to maintain a reasonable service level agreement with the loan teams, especially since the ISD staff will have some vacation schedules coming in the 3rd & 4th Qtrs. The consultant would also be needed if we should have another “Bulk loan sale” and/or Securitization.
In addition, the individual will help review and audit Fannie Mae and all other investor loan requests to ensure guidelines have been met for salability. Re-underwrite loans as needed. Send Fannie Mae Desktop Underwriter (DU) requests electronically through the Loan Origination System (NetOxygen). Convey findings and conditions to loan teams. Provide support to Relationship Managers and Loan Specialists through the entire loan process, from pre-qualification to final approval review, via a dedicated email address and hotline. Facilitate loan file improvement through identifying errors and addressing them by educating loan teams.
What you’ll do as a FNMA Underwriting Specialist:
You could be a great fit if you have:
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Are you willing to take initiative and make decisions? Are you willing to go the extra mile because you love what you do and how you can contribute as a team? Do you want the freedom to grow and the opportunity to take charge of your own career? If so, then come join us.
We want hard working team players. You’ll have the independence to learn, lead and drive change. A culture of extraordinary service, empowerment and stability—that’s the First Republic way.
This job description is not intended to be all-inclusive. Employee may perform other related duties as assigned to meet the ongoing needs of the organization. The Company is an equal opportunity employer. In this regard, the Company makes reasonable accommodations for qualified applicants and employees with disabilities in order to enable them to perform all essential job functions, unless doing so creates an undue hardship.
First Republic is subject to federal laws that restrict the employment of individuals with certain types of criminal histories, including FDIA Section 19 and FINRA. To the extent not inconsistent with our obligations under those federal laws and regulations, First Republic will consider qualified candidates with criminal histories in a manner consistent with the Los Angeles and San Francisco ban-the-box laws.