Wholesale Underwriter I - Glendale

Company Background: BNC Mortgage has become the 8th largest wholesale subprime lender (National Mortgage News) in the mortgage industry. We have funded over $50 billion in home loans since our inception in 1995. In 2004, we became a wholly owned, operating subsidiary of Lehman Brothers Bank, FSB. As a result, Lehman Brothers, a Wall Street company, has been able to add superior strength and stability to our company.

Our headquarters are in Irvine, California, and we employ over 1,800 professionals. With our extensive network of local branch offices throughout the United States, we are able to provide exceptional customer service to our mortgage brokers. At BNC Mortgage, we offer a competitive compensation package and comprehensive benefits, including 401 (k) plan with match.

BNC Mortgage, Inc. is committed to the principles of equal employment opportunity. BNC does not discriminate against any employee or applicant for employment because of race, color, religion, gender, national origin, veteran status, disability, age, citizenship, marital or domestic/civil partnership status, sexual orientation, gender identity or expression, or because of any other criteria prohibited under applicable law.

General Summary:

Responsible for managing assigned underwriting duties. Monitor and maintain compliance with all underwriting/funding policies and procedures within federal, state, local, and corporate regulations. Ensure prompt and efficient service to Account Executives through consistent and timely communication to Senior Client Managers (SCM), and Funders. Act as a principal communicator to Underwriting policy, decisions, and issues.

Essential Duties:


Primary responsibility is to review mortgage loan submissions and to issue Conditional Loan Approvals in compliance with Finance America's guidelines.

Underwriting will also include verification of all documentation and performing necessary calculations (such as debt-to-income and disposable income) to establish pricing of loan.

Responsible for reviewing and clearing approval conditions on all loans assisting SCMs

Remain current on Finance America and/or secondary market investor requirements and pricing policies and ensure compliance therewith.

Perform initial appraisal review and complete appraisal checklist.

Perform all data entry functions related to underwriting.

If loan is unacceptable as structured, make alternative structuring recommendations to Account Executive, if appropriate.

Consult with SCMs on determining whether conditions have been met.

Work with other team members to ensure efficient document flow.

Ensure compliance to federal, state, and investor regulations/requirements.

Prepare reports to management as required.

Underwrite to minimum expectations of 5 loan files per day.

PF Audit responses

Other duties as assigned.Job Requirements
Qualifications, Knowledge, Skills and Abilities:


Minimum 1 to 2 years' experience in mortgage underwriting

Current knowledge of industry specific underwriting guidelines and procedures, as well as federal, state, and local regulations.

Proficient in Microsoft Office

Working Conditions:


Office Environment