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MAP Underwriter, FHA

Salary
$75,000-$99,999
Employment
Full Time
Real Estate Field
Location
San Diego
 AL
Postal Code
92101
Country
United States

This job is no longer active.

Description


This individual will work with a team of highly motivated FHA mortgage banking professionals in a fast-paced, highly specialized, real estate finance operation. The employee will principally be responsible the preparation of the MAP Underwriting submission. This includes the analyzing operating statements for multifamily or health care facility loan transactions, critically evaluating appraisals, market studies, project capital need assessments, interviewing prospective borrowers to obtain critical property, management and borrower details for each transaction, , prepare loan application requests for RMC FHA Loan Committee and FHA, as well as interacting with FHA representatives regarding loan transaction terms.

Essential Duties & Responsibilities

  • Maintain an expert understanding of FHA and internal policies and procedures as outlined in the RED FHA Policy and Procedure Manual, FHA MAP Guide, , and other applicable references..
  • Work independently to evaluate appraisals, market studies, project capital needs assessments, project /personal financial statements, credit reports, insurance policies and any other documents needed to develop sound underwriting conclusions.
  • Work independently t to ensure the required correction of technical reports if needed, develop required underwriting documents, conclusions and forms; successfully address, mitigate identified issues and ensure the preparation of complete and programmatically compliant FHA loan applications.
  • Analyze the creditworthiness of the sponsorship and the real estate and provide concise risks and mitigants/recommendations to Chief Underwriter and Loan Committee Review.
  • Interface with clients and other project participants to obtain necessary documentation.
  • Understand physical characteristics of commercial real estate properties, assessing the related competitive advantages and disadvantages and applying to the subject underwriting.
  • Complete site visits on transactions assigned (travel required).
  • Ensure final underwriting is documented accurately and files are complete, orderly, and accurate.
  • Generally assist the Closing and Delivery Team with the needed resolution of identified firm commitment conditions, the provision of draft settlement statements and revised documents/forms required for closings, funding and security deliveries.
  • Ensure that accurate and complete FHA underwriting, closing and expense files/records are properly organized and maintained for all assigned transactions.
  • Keep RMC Team Leaders and Originators informed of project specific progress and issues on a proactive basis so as to facilitate the smooth execution of engaged transactions.
  • Develop strong business relationships with HUD production staff so as to expand their confidence in RMC staff capabilities. In this regard, the individual will take the lead in FHA communications and/or resolving programmatic issues with HUD staff for assigned transactions.
  • Assist in origination efforts as needed by evaluating provided project information and preparing preliminary loan analyses for use by RMC Bankers.
  • Assist in the training and mentoring of junior staff members.
  • Assist in the development of needed FHA business protocols and actively participate in on-going training for RED staff on FHA processing/underwriting.
  • All other duties as assigned.

Education, Skills, & Experience

  • Bachelor s degree required with Finance or Accounting concentration a preferred; OR at least 5 years previous work experience with analyzing/ underwriting loans in a commercial real estate lending environment. MBA or advanced degree preferred.
  • MAP credentialed underwriter and/or two-three years direct experience with FHA multifamily/affordable underwriting
  • Experience with Conduit, Life Company, Fannie Mae or Freddie Mac programs a plus
  • Ability to work well under pressure and adjust to varied workloads
  • Excellent oral and written communication and organizational skills are required
  • Knowledge of Microsoft Office (Excel, Word, Outlook, Access, PowerPoint)
  • Position requires ability to travel
  • Requires an independent worker with good project management skills and ability to adjust to ever changing environment
  • Requires a high degree of professionalism and confidentiality

Job Function


 

Job Sector


Not specified

 

Experience


2+ to 5 years


This job is no longer active.

Finance / Investment San Diego Full Time AL Underwriting MAP Underwriter, FHA other