Loan Underwriting Specialist (49 views)

San Diego, CA
August 2, 2017 2017-10-01
Job Description

Salary: $49,732.80 – $60,528.00 annually

Type: Regular, Full Time, Full Benefits

Application Deadline: Open until filled

Class Characteristics:

Under general supervision, performs loan and grant processing and underwriting duties in the review and evaluation of the financial profile of applicants and the determination of eligibility for the Commission’s first time home buyer, affordable for-sale housing, and rehabilitation programs. The incumbent performs loan processing and underwriting in accordance with various Commission program parameters and makes recommendations of approval or denial to the Housing Programs Manager. Positions at this level receive only occasional instruction or assistance as new or unusual situations arise and are fully aware of the operating procedures and policies of the work unit.  Responsibilities include performing diverse and specialized work requiring the application of defined policies, procedures, and regulations, and involve frequent contact with the public.  Understands, interprets, and successfully communicates both orally and in writing. Organizes and prioritizes a variety of projects and multiple tasks in an effective and timely manner; organizes own work, set priorities, and meets critical time deadlines. Uses tact, initiative, prudence, and independent judgment within general policy, procedural, and legal guidelines.

Examples of Essential Job Functions:

  • Performs the full range of routine to complex administrative and technical duties involved in processing, and evaluating application materials, underwriting, and funding of affordable housing opportunities to eligible program participants.
  • Reviews applications of property owners and first-time home buyers to determine their financial profile and eligibility under existing lending programs administered by the Commission; advises property owners and home buyers of available financial assistance and assists in loan/grant applica­tion preparation.
  • Coordinates with property owners and first-time home buyers’ primary lenders to obtain all necessary documentation for underwriting, evaluating credit worthiness and assessing repayment ability.
  • Reviews and evaluates credit reports, asset documentation, property appraisal reports, preliminary title reports, income documents, property insurance documents and other applicant-related material.
  • Prepares loan underwriting analysis, funding approval requests or letters of denial, loan documents, title and escrow instructions, and perform all set up and close out activities on files.
  • Provides information to and works with applicants, lenders, escrow and title companies, and public agencies, to assist in clearing deficiencies necessary to approve loans.
  • Provides support to other Commission departments, governmental agencies, and private sector lenders by provid­ing technical assistance, training, and/or coordination on loan programs.
  • Assists in developing new procedures and loan documentation formats.
  • Maintains complete and accurate document and computer files; prepares and submits required loan back-up and summary reports.
  • Enters and retrieves information and data using standard word processing and spreadsheet software, as well as accounting, financial, and other related electronic information systems specific to the department to which assigned.
  • Reviews source documents for accuracy, receipt of necessary information, and compliance with rules, regulations, and procedures; determines proper handling for compliance.
  • Receives inquiries via telephone, email, or mail; resolves any issues, problems, or requests using established procedures.
  • Generates and assists in the preparation of monthly, quarterly, and year-end summary and technical reports.
  • Provides support to the Housing Programs Manager with special projects as required.
  • Performs other duties as assigned.

Typical Qualifications:

Knowledge of:

  • Federal, State, and local programs, policies and procedures applicable to rehabilitation loans and grants to improve existing single-family, small multi-family and mobile home dwellings.
  • Federal, State, and local programs available to first-time home buyers such as Mortgage Credit Certifi­cates, Deferred Loans, Down Payment/Closing Cost Assistance Grants, and Affordable for-sale housing programs.
  • Principles and practices of real estate lending, loan processing and underwriting, and real estate loan evaluation.
  • Practices and techniques used to accurately calculate monthly and annual income, conduct credit worthiness analyses, property valuation review, and property title investigation.

Ability to:

  • Understand, explain, and apply detailed laws, regulations, policies and procedures pertaining to the applica­tion, packaging, processing, evaluation, underwriting, and funding of Commission loans/grants and Mortgage Credit Certificate.
  • Deal courteously and communicate effectively with a variety of individuals in the course of the work, including the resolution of disputes and job-related problems with borrowers and lending companies.
  • Gather and evaluate information and reach correct conclusions in accordance with lending and underwriting policies and program regulations.
  • Understand, interpret, and successfully communicate both orally and in writing, pertinent department policies and procedures.
  • Prepare clear and concise reports, correspondence, procedures, and other written materials.
  • Maintain accurate files and records.
  • Organize and prioritize a variety of projects and multiple tasks in an effective and timely manner; organize own work, set priorities, and meet critical time deadlines.
  • Operate modern office equipment including computer equipment and specialized software applications programs.
  • Use English effectively to communicate in person, over the telephone, and in writing.
  • Use tact, initiative, prudence, and independent judgment within general policy, procedural, and legal guidelines.
  • Establish, maintain, and foster positive and harmonious working relationships with those contacted in the course of work.
  • Provide a high level of customer service by effectively dealing with the public, vendors, contractors, and Commission staff.

Education & Experience:

Equivalent to completion of the twelfth (12th) grade, and three (3) years experience performing real estate loan origination, processing, or underwriting in a private sector lending institution or a similar governmental housing assistance agency. College-level coursework in finance, accounting, or a related discipline is desired. Experience using Microsoft Office programs required.