Job Title: Mortgage Underwriter
Reports to: Director of Lending
Job Location: Corporate Office
Compensation: $70,000 – $85,000
The Underwriter is directly responsible for underwriting all first mortgages, rehabilitation loans and grants. The individual must have a thorough knowledge and understanding of underwriting Cooperative loans and reviewing Coop project loan documentation to assess risk. Must be detailed oriented, with in-depth knowledge of Ellie Mae Encompass Software and standard industry laws.
Essential Duties and Responsibilities:
- Evaluate loan documents to ensure accuracy and completeness and adherence to policy and procedures.
- Perform risk assessments on potential loan recipients based on credit rating, borrowing history, and other specific risk factors.
- Record loan denials and specific basis for declining application.
- Monitor and report noncompliance with loan covenants.
- Review all post-closing packages prior to delivery to Loan Fund Management.
- Identify credit policy exceptions and incorporate suitable mitigates into the credit package.
- Maintain records, compliance documents and other administrative materials, prepare reports and generate regulatory reports as directed.
- Make suggestions to enhance all system processes to improve the process from underwriting to closing.
- Attend conferences, seminary lectures, webinars, as considered appropriate by supervisor.
- Assists with other projects and assignments as needed.
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill and/or ability required.
- Bachelor’s degree with five years (+) underwriting experience in corporate, consumer, mortgage or private banking lending or credit risk analysis.
- Must be eligible to meet requirements under the S.A.F.E Act.
- Experience working with low-to-moderate income populations, and / or community outreach.
- Proficiency using Excel and Word and familiarity with standard concepts, practices, and procedures within the lending field.
- Pipeline management experience is required.
- Strong underwriting skills and ability to independently understand and communicate complex credit issues and analyze credit risk.
- Understanding of basic financial principles and processes
- Applied knowledge of underwriting fundamentals and standard industry practices.
- Ability to work independently and handle multiple projects.
- 25% travel throughout New York City will be required.
- Bilingual in Spanish/English preferred
Knowledge, Skills, Abilities and Other Characteristics:
- Communication: strong interpersonal and communication skills, actively listens to needs of callers and presents ideas and thoughts clearly and concisely.
- Analytical Skills: Able to structure and process qualitative or quantitative data and draw insightful conclusions from it. Exhibits a probing mind and achieves penetrating insights.
- Teamwork: Reaches out to peers and cooperates with supervisors to establish an overall collaborative working relationship.
- Critical Thinking: Uses logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions, or approaches to problems.
- Positive Attitude: Finds the most effective and efficient way to complete tasks, regardless of obstacle, while continually offering support to peers through quality teamwork.
- Flexibility/Adaptability: able to accept change and engage it.
- Active/Continuous Learner: recognizes own strengths and weaknesses and actively seeks skills, techniques, and methods to develop and enrich.
- Multitask: excellent time management and organizational skills
- Strong computer skills with experience in Microsoft Word, Outlook, and Excel.
Neighborhood housing Services of New York Inc. is proud to be an equal opportunity employer, and we seek candidates who desire to work in and serve an ethnically diverse population.