The FHA Chief Underwriter is responsible for the activities of the FHA Underwriting Team by providing leadership, guidance, support, and direction to the team throughout the underwriting process. The quality, completeness and accuracy of the FHA Underwriting Team’s work product are of utmost importance; therefore, the FHA Chief Underwriter must ensure the team generates accurate, complete, well-presented, and timely work product. The FHA Chief Underwriter will also facilitate timely and appropriate communication between all parties involved (i.e. BPC, vendors, customers, etc.). The Chief Underwriter will be responsible for delegating appropriately to the Deputy Chief Underwriter(s).
The FHA Chief Underwriter should demonstrate the following behaviors:
- Develops our People: Builds talent and teams for BPC by creating a culture of meritocracy and transparency, and celebrating excellence, initiative and courage
- Works as a Partner: Works collaboratively across the firm and encourages others to achieve the best results for BPC and our clients
- Champions Progress: Champions a culture of high standards, pushes for progress, embraces change and challenges the status quo in support of BPC’s vision and strategy
- Delivers Results: Sets high standards and achieves performance objectives
ESSENTIAL DUTIES AND RESPONSIBILITIES:
- Act as senior credit authority and chair of BPC loan committee for the FHA Platform.
- Provide leadership direction, and support to the prescreening team to ensure the integrity of the process resulting in engagement of transactions that are compatible with HUD’s programmatic requirements and BPC’s lending guidelines.
- Oversee overall workload distribution amongst underwriting teams to ensure the highest quality and timely completion of loan applications and other assigned tasks/projects.
- Make recommendations to Head of FHA Platform regarding staffing capacity that matches the FHA Platform’s growth and strategic goals.
- Ensure operating efficiencies and implement process improvements including maximizing the use of technology to match the FHA Platform’s growth.
- Assure a network of necessary third party providers required for the timely and accurate underwriting of FHA loans
- Ensure that underwriting teams meet all agreed upon underwriting goals and deadlines at the transaction level and over the course of the year through effective pipeline management.
- Creation and oversight of training and professional development for Underwriting Department through the assessment of each team member’s skill levels and provide positive and constructive critical feedback on a regular basis.
- Work with team members to develop professional development goals and ensure that necessary resources are in place to allow the team member to achieve their goals.
- Review and approve new MAP and LEAN underwriter qualifications using current HUD guidelines.
- Effectively communicate within the team and between teams (i.e. Origination, Closing, third party providers, etc.)
- Identify problems early and effectively troubleshoot during the underwriting process.
- Monitor and disseminate changes to HUD underwriting policies and guidelines.
- Maintain effective controls and compliance including operating within BPC’s policies and procedures, BPC’s Quality Control Plan, and adherence to all legal, regulatory, and programmatic requirements.
- Thorough and in-depth knowledge of HUD underwriting guidelines for the FHA Program, both Multifamily Housing and Healthcare/LEAN.
- Proven leadership skills; experience with people management and building great teams.
- Proven ability to lead a team with various experience levels and skill sets.
- Ability to work under pressure to meet deadlines, and work independently.
- Highly developed analytical, research and written/oral presentation skills.
- Ability to problem-solve and exercise independent judgment while displaying a high degree of initiative and accuracy.
- Demonstrated ability to organize & prioritize projects; complete multiple tasks on schedule.
- Strong early problem recognition and resolution skills.
- Proficiency in Microsoft Office with advanced skills in Excel and Word.
- Strong work ethic and attention to detail.
- Excellent written and verbal communication skills that allow for interaction with originators, clients, and prospects during initial meetings and throughout the underwriting process.
- At least 10-15 years’ demonstrable experience in underwriting HUD/FHA construction and permanent loans.
- At least 7 years’ supervisory experience, including in the area of training, development and oversight of underwriter trainees.
- Must have current HUD MAP and LEAN underwriter approvals and be in good standing with HUD and in full compliance with all MAP/LEAN requirements. No warning letters, probation, suspension or terminations in the previous 3 years.
- Bachelor’s degree or equivalent experience in Accounting, Finance, Economics, Real Estate, or other related fields; Master’s degree in finance or accounting a plus.
- Ability to travel a minimum of 20-25%