Loss Mitigation Underwriter (Residential)

First Citizens Bank - Little Mountain, SC

Full-time

Little Mountain, SC

Credit Intermediation and Related Activities

About the position

This position underwrites and evaluates residential 1-4 loan applications from financially distressed borrowers to mitigate loss for the Bank. The role involves reviewing applications secured by Real Estate, analyzing financial statements to determine credit solutions, and rehabilitating problem loans when possible. The underwriter ensures compliance with applicable regulations and assists management with special projects and reports, maintaining a high level of attention to detail to mitigate risk to the Bank.

Responsibilities

• Works directly with borrowers on both forward mortgage and construction loans to restructure transactions mitigating loss.
• Underwrites and evaluates distressed retail loan applications according to applicable regulations, procedures, and guidelines.
• Reviews financial statements and results of analysis to determine appropriate remedy within credit authority.
• Renders account decisions for the equity review, write-down, and charge-off processes.
• Sources, compiles, and interprets financial data.
• Performs impairment analysis on identified problem credits.
• Assists management with analysis and documentation requests on Loss Share portfolios and portfolios serviced by others.
• Ensures all information keyed into various systems is clearly and accurately documented.
• Ensures all documents related to the application are complete and lack deficiencies.
• Builds and maintains strong relationships with associates, managers, and other key stakeholders.
• Maintains knowledge of Bank strategy and supporting initiatives.
• Participates in servicing efforts for acquired institutions. Works with acquired institutions to service defaulted or covered assets, and to assist with mortgage loans, modifying or recommending charge off as appropriate.

Requirements

• Bachelor's Degree and 4 years of experience in Consumer, retail or residential mortgage underwriting OR High School Diploma or GED and 8 years of experience in Consumer, retail or residential mortgage underwriting.
• Strong understanding of financial principles and concepts.
• Knowledge of industry-specific regulations and laws (ie TILA, RESPA, ECOA, HMDA, SAFE, FDCPA etc.)

Nice-to-haves

• Experience in Loss Mitigation Underwriting

Benefits

• Comprehensive benefits program for full-time associates (20+ hours) with customized offerings designed to support families.