SUMMARY
Colliers Mortgage is seeking a Senior Underwriter as a member of our HUD/FHA Underwriting team. The Senior MAP Underwriter is responsible for the underwriting of complex loan transactions under the FHA-insured loan programs, as well as providing training and oversight to MAP Underwriters and Underwriting Analysts/Trainees. As part of the underwriting process, the Senior MAP Underwriter determines the acceptability of the development team, as well as evaluates various aspects of FHA projects through a thorough analysis of credit, financial condition, experience level, market information, operating history, and property condition. This position manages the underwriting process and determines key terms of the loan, including but not limited to, mortgage amount and maximum amortization.
ESSENTIAL DUTIES AND RESPONSIBILITIES
- Complete analyses within prospective FHA loan financial model with rent rolls, budgets, operating statements, and third party report conclusions
- Evaluate credit risk of prospective loan and Sponsor, while developing and maintaining strong understanding of HUD/FHA underwriting and servicing guidelines
- Review and analyze contracts, loan documents, HUD Forms, and other forms pertinent to the transaction
- Review and analyze all HUD required third party reports for accuracy and compliance with FHA guidelines
- Provide support to clients and communicate with third party vendors throughout the underwriting process
- Prepare HUD loan sizing forms and project narrative summary for internal loan committee review and submission in the HUD Application
- Communicate with and provide feedback to HUD staff throughout the Application and review process
- Collaborate with and provide feedback to the Loan Originator, Loan Processor, Underwriting Analyst/Trainee, and Loan Closer throughout the entire underwriting process
- Perform in-person project site visits and complete lease audits
- Communicate closely with Loan Originator and Capital Markets team to ensure timely rate lock and closing
- Provide analysis and updates of HUD policy revisions to underwriting team as needed
- Provide training, review, and oversight of other MAP Underwriters and Underwriting Analysts/Trainees
- Maintain accuracy of internal company tracking systems and reports
- Attend regional lender conferences and provide updates to team
- Regular and reliable attendance required
- Other duties, as assigned
REQUIRED EDUCATION AND EXPERIENCE
- Bachelor's Degree in Finance, Business, Real Estate, or related field required
- Five to seven years of preparatory or related experience required
- Experience underwriting loans under Sections 221(d)(4), 223(f), and 223(a)(7) required
- Experience underwriting loans involving Low Income Housing Tax Credits required
- Experience underwriting loans under Sections 213 and 241(a) preferred
- Experience underwriting loans under the Section 232 LEAN programs preferred
- FHA MAP Certification required
- FHA LEAN Certification preferred
- Applicants must be currently authorized to work in the United States without the need for visa sponsorship now or in the future.
BENEFITS
We offer a comprehensive benefits package for employees and their families including medical and dental plan; 401k plan including company matching; firm funded life and disability insurance.
Pursuant to the laws regarding job postings where the position is located in, Colliers is disclosing the following information:
Our compensation ranges are determined by role, level, and location. The range displayed on this job posting reflects the minimum and maximum target for new hire salaries for the position across all US locations. Within the range, individual pay is determined by work location and additional factors, including job-related skills, experience, and relevant education or training.
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Direct applicants only please, no agencies.
