FHA MAP and LEAN Certified Underwriter

Job Description

The FHA Underwriter will be responsible for 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. The FHA Underwriter may also be responsible for 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.   This position may be located anywhere in the United States, but preferably in Bethesda, MD.

Review, Analyze & Assess Risk

• 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 Firm Application loan submission
• Generate Loan Summary Narrative, Third Party report reviews, and transmittal letters
• Review and complete 92013, 92664, 92273, 92274, 92264a, and other various HUD forms
• Present Underwriting conclusions to HUD at required Concept Meetings and other related transactional meetings, as necessary
• Conduct Lender’s physical inspection site visits as part of underwriting due diligence, and accompany Third Party Consultant and / or HUD personnel, as necessary

Firm Commitment, Rate Lock & Loan Closing

• Work in coordination with BPC Closing Manager to address Firm Commitment Special Conditions and  ensure required documents are complete and updated as necessary for an expeditious closing process  
• Prepare Amendment requests in coordination with the Closing Manager

Research and Compliance

• Identify and evaluate Third Party providers (Appraisal, Market Analyst, PCNA, A&E, and Cost)
• Coordinate timely engagement of Third Parties including verifying funds on hand and initial documents requested are available
• Professionally communicate the results of file reviews both verbally and in written format internally and to external customers
• Review and apply new information received regarding HUD and underwriting guidelines, BPC policies, and processing procedures including awareness of expiration dates of HUD forms
• Research HUD/FHA Handbook and Regulations as needed with strict adherence to all FHA policies and procedures
• Maintain knowledge of all applicable underwriting guidelines by completing all underwriter training programs and learning business unit and industry policy and/or guidelines

Manage Underwriting Team

• Participate in BPC pipeline management meetings to communicate project status updates; request additional resources as needed
• Manage and support members of Underwriting Team including work pace, quality of work and timeliness
• Regularly attend FHA Department meetings to support/ supervise members of the assigned Underwriter Team
• Take an active role in identifying potential challenges within the underwriting process/department and make recommendations for improvements

Core Competencies:

• Exceptional analytical skills with demonstrated ability to analyze data from various sources with accuracy and efficiency
• Strong written and oral communication skills 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 – having the ability to say, “no”
• Excellent time management skills
• Highly self-motivated and able to manager 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 device)

Qualifications & Requirements:

• B.S./B.A. degree in Accounting, Finance, Economics, Real Estate or other related fields preferred.
• Minimum of 3-5 years of underwriting experience with HUD MAP/LEAN 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.