FHA Underwriter

Overview

Responsibilities

• Underwriting and reviewing potential FHA/HUD loans to ensure that loan requests meet program specifications and financial feasibility based on review and analysis of Third-Party Reports, financials, mortgage analysis, and other credit documents.
• Managing day-to-day activities of assigned Underwriting Team; Loan Coordinator(s) and Analyst(s) and providing guidance, support and direction throughout the underwriting process.
• Analyze credit documents; mortgage applications, credit history and income documents, title documents, appraisals, environmental reports, capital needs report, cost and A/E reports and all applicable compliance documents.
• Evaluate debt ratio, loan-to-value ratios, credit score, property valuation and various other factors throughout the underwriting process.
• Identify portfolio risks resulting from Borrower’s underlying business practices, underwriting and/or fraud exposure.
• Identify risks early and throughout underwriting process, communicate concerns to Originator and escalate issues to Chief Underwriter in a timely manner.
• Determine and document loan conditions and communicate requirements and rationale of decisions to Borrower.
• Prepare and present at internal Loan Committee highlighting risks and mitigants prior to Pre-Application and Firm Application loan submission(s).
• Generate Loan Summary Narrative, Third Party report reviews, and transmittal letters.

Qualifications

• Minimum of 3-5 years of underwriting experience with HUD MAP Underwriter approval required.
• Ability to travel nationally on a regular basis to fulfill the requirements of this job, including but not limited to; project related meetings, site inspections, and industry conferences.
• Exceptional analytical skills with demonstrated ability to analyze data from various sources with accuracy and efficiency.
• Strong written and oral communication skills are required, and an ability to explain complex financial concepts to a non-technical audience.
• Demonstrated ability to work independently and to follow through on details to completion.
• Experience in a fast paced and changing environment – ability to prioritize and manage multiple projects with competing deadlines.
• Excellent time management skills.
• Highly self-motivated and able to manage an Underwriting Team.
• Ability to maintain professional internal and external relationships that meet company values.
• Strong PC skills and solid experience in standard Microsoft products, particularly Excel, are essential.
• Ability to use basic office equipment frequently (printers, copiers, scanners, handheld devices).

Preferred Qualifications

• B.S./B.A. degree in Accounting, Finance, Economics, Real Estate or other related fields preferred.