Multi-Family Underwriter I/II

2 weeks ago

Anchorage, Alaska, United States Alaska Housing Finance Corporation Full time


Corporate Values: Integrity, Respectful, Leadership, Sustainable

ALASKA HOUSING FINANCE CORPORATION

MULTI-FAMILY UNDERWRITER I/II

Anchorage/Job # PCN 206

Position Summary: This position involves reviewing and recommending action regarding credit, property, and legal documentation. This position must be familiar with AHFC's statutes, regulations, guidelines, and policies regarding multifamily loan qualification.

Reports to: Multifamily Underwriting Manager.

OVERVIEW
The work is under a limited amount of supervision and can involve highly technical loan submissions and special projects, as well as routine underwriting. This position is considered the intermediate underwriter level within the MultiFamily Underwriting section.

SUPERVISION RECEIVED AND EXERCISED: Nonexempt, nonsupervisory position.

EXAMPLES OF DUTIES:

Under the MultiFamily Loan Purchase Program, reviews loan submission request, including credit and appraisal analysis of collateral offered. Determines a recommendation of acceptance or denial of the loan requests based on AHFC criteria.

Under the Direct Lending program directly process a variety of multifamily, congregate, special needs, senior housing, and condo association loan applications from the receipt of the application information through closing. Determines a recommendation of acceptance or denial of the loan requests based on AHFC criteria.

Present recommendations and loan proposals to the loan committee.

Review Loan Commitment Contracts issued to borrowers and lenders to determine if all conditions have been met prior to funding/closing loans. Work with Lenders and borrowers to complete outstanding requirements in a timely manner in order to clear files to close.

Work directly with borrowers, attorneys, lenders, and title companies to fund and close loans in accordance with department standards and guidelines.

Review closing documents for completeness and accuracy as well as compliance with Loan Commitment Contracts. Prepare documentation for purchase of loan files and submit to AHFC's Servicing Department to complete loan purchases.

Input of electronic database information for the purpose of loan data tracking and recordkeeping. Scanning hard copy documents into electronic form for storage on database. Maintaining accurate and complete records of loan files for the MultiFamily loan programs.

Attends meetings of various organizations to inform lenders and/or the public of types of multifamily, special needs loans available, eligibility requirements, procedures used in applying and types of security required. Represents the Corporation at various educational seminars.

Handles heavy telephone communication with public and lenders to answer general and specific program and underwriting questions.

Writes recommendations, reports and correspondence and assists with program development or modification as requested.

Assists with training lending partners in various aspects of multifamily underwriting, as required.

Assist in the maintenance and revision of the Seller's Guide, in the preparation of seller/servicer memos; and in the development of new or revised loan programs.

Performs other duties as required.

Multi-Family Underwriter II:

The position may, in the absence of the supervisor, assist the Director, Mortgage Operations with duties as assigned including delegation and coordination of multifamily section workflow, training of subordinate staff members, monitoring activities of the section to ensure policies and procedures are being followed.

Present recommendations and loan proposals to the Loan Committee. In addition to presentations to the loan committee may make presentations to the Executive Loan Committee and the Board of Directors.

Trains lending personnel in various aspects of multifamily underwriting, as required.

This position is considered the most advanced underwriter level within the MultiFamily Underwriting section.

KNOWLEDGE, SKILLS AND ABILITIES

Knowledge of: Multifamily lending, especially credit, appraisal, engineer reports, purchase underwriting; property values and trends; statutes, regulations and rules related to AHFC; departmental policies on handling loans. Loan origination best practices and procedures, underwriting policies and procedures, loan closing processes, and shipping purchased loans to servicing.

Skills and Abilities: Planning, organizing and managing workflow; compiling, analyzing and evaluating data and drawing sound conclusions; preparing clear, complete and concise written communications; writing creatively and speaking effectively; understanding and coping with public sector influences; working cooperatively and effectively with both corporation personnel and external contacts; and applying fundamental lending criteria to the needs of the public sector and secondary market investors.

Abilities to: Perform regular duties and project assignments with minimal supervision; follow through on details; adapt positively to changing circumstances; and produce quality work within the constraints of deadlines.

Minimum Requirements

Minimum Qualifications:

A bachelors degree from an accredited college in business, finance, banking, economics, or a closely related field and three or more years of mortgage lending experience. Experience must include a combination of the following on a year to year basis:
  1. Mortgage underwriting;
  2. Mortgage loan applicant interviewing and recommending loan programs;
  3. Mortgage loan processing and recommending action on loans;
  4. Mortgage loan closing;
  5. Mortgage loan servicing; and
  6. Mortgage loan auditing.
Substitution: Appropriate work experience (in the above categories) may be substituted for the required education on a year for year basis.

This is a Level 17/18 position (DOE) with excellent benefits

Insurance Benefits
  • Health Plan Medical, Vision, Prescription, and Dental
  • Employee Assistance Program/Wellness
  • Life Insurance Basic Life and AD&D
Optional Insurance Benefits
  • Group-based insurance premiums - Optional life, Long-term, and short-term disability
  • Voluntary Accident, Hospital, and Critical Illness
  • Flexible spending accounts for tax savings on eligible health care of dependent care expenses
Retirement Benefits
  • Membership in the Public Employees Retirement System (PERS), Employee and Employer contribution
  • Option to enroll in AHFC Deferred Compensation Program
Paid Leave & Other Benefits
  • Personal Leave with an accrual rate increase based on time served
  • Twelve paid holidays a year
  • Health Club reimbursement Plan
  • Education Reimbursement
All external applicants tentatively selected for this position shall be required to submit to urinalysis and breath alcohol testing to screen for illegal drug/alcohol use and complete a pre-employment physical prior to appointment.

APPLICATIONS WILL BE ACCEPTED UNTIL THE POSITION IS FILLED

To apply for this job and all jobs, please go to AHFC website linked below.



PLEASE DO NOT APPLY AT WORKPLACE ALASKA

AHFC May Offer Hybrid Teleworking Opportunities for Some Positions

AHFC provides employment opportunities to low and very-low income persons, in compliance with Section 3 of the HUD Act of 1968. Public Housing Residents are encouraged to apply.

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