Senior Underwriter
3 weeks ago
Job Description
Sr. Underwriter
Classification: Exempt -This is not a remote position
Reports to: Associate Director of Underwriting
Summary/Objective
The Sr. Underwriter is responsible for supporting loan origination volume by conducting loan-level due diligence to underwrite loans on SFR (1-4 units) and multi-family or mixed-use properties. The Sr. Underwriter reports directly to the Associate Director of Underwriting.
Essential Functions
- Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.
- Responsible for conducting loan-level due diligence and ensuring each loan conforms to our underwriting and/or investor guidelines
- Manage a pipeline of loans submitted for closing.
- Interact with other areas of the firm, including processing, sales, and the closing/funding teams, as well as servicing and secondary sales teams.
- Issue updated final underwriting approval with terms and assign to legal team/attorney.
- Document all activities in our system and provide feedback on improvement as necessary.
- Review contingencies and underwrite rehabilitation and construction budgets.
- Carry out requisite loan calculations (LTV, LTC, ARV, DSCR, DTI, etc.)
- Verify market comparables for both rental values as well as property sale values.
- Conduct appraisal analysis to determine acceptable collateral standards are met.
- Property valuation using online tools available to determine values given by appraisal is appropriate and substantiated.
- Review and approve third-party reports, including property appraisals, physical needs assessments, environmental reports, lease abstracts, title reports, insurance binders, etc.
- Keep informed of current Secondary Market guidelines
- Maintain productivity level and turn times as established by management
- Pricing loans using internal Excel tools or various external investor pricing models
- Perform other duties as required
Requirements
- Bachelor’s degree
- 7+ years in lending operations for real estate as an underwriter
- Experience in appraisal reviews or developing valuation on SFR and/or multi-family or mixed-use properties
- Experience in managing/mentoring Junior Underwriters
- Knowledge of loan underwriting and related activities
- Superb communication, organization, and interpersonal skills
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Senior Underwriter
3 weeks ago
Copiague, United States Sharestates Full timeJob Description Job Description Job Description Sr. Underwriter Classification: Exempt - This is not a remote position Reports to: Associate Director of Underwriting Summary/Objective The Sr. Underwriter is responsible for supporting loan origination volume by conducting loan-level due diligence to underwrite loans on SFR (1-4 units) and multi-family or...