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Responsible for supporting the MAP Underwriting team by performing various analysis in order to assist underwriters in the preparation of prescreen packages and loan narratives for presentation to prescreen committee and/or loan committee.
ESSENTIAL DUTIES AND RESPONSIBILITIES
Responsible for organizing and generating parts of the HUD application packages for mortgage insurance by requesting, follow up, and reviewing any and all due diligence items for the HUD application packages. Key contact person for the borrower regarding due diligence items and underwriting questions.
Informs team members of project status in order to facilitate conclusion of underwriting, loan closing and funding. Participates in periodic calls to report on project progress and to discuss project specific details associated with the document preparation, review, collection and 3rd party report submissions. Identify due diligence results. Senior Level Analyst will participate to assist in the conclusion of the underwriting and financing of the proposed project loan.
Completes and submits loan applications in compliance with final direction of MAP Underwriter(s) and/or Senior Level Analyst. Responsible for collection for all supporting materials, verification of accuracy and completion. Complete and submit loan applications per HUD guidelines for MAP(Multifamily Accelerated Processing), TAP (Traditional Application Processing) and LEAN (section 232 FHA insured) loans. Senior Level Analyst will assist in the preparation, analysis and recommendations of the mortgage credit of the borrower and their development team.
Assists borrower(s) with questions regarding the requested due diligence items. Senior Level Analyst may write parts of the underwriting narrative relevant to the due diligence documentation as directed by the underwriter. Specifically, Senior Level Analyst will be expected to review and make final recommendations for areas related to Title, Management Agent Review and Environmental issues.
Gathers documents requests and reviews preliminary title work as experience allows and as directed by MAP Underwriter(s). Collects and provides on behalf of borrower and 3rd party vendors various exhibits to the application such as maps, subject photographs, borrower profiles.
Coordinates 3rd party services Initiate 3rd party proposals for underwriter(s). Process includes collecting third party fees from borrower(s). Collect various project specific documents to be provided to 3rd party vendors to initiate reviews. May be assigned to review third-party reports (appraisal, market study, environmental site assessment, PCNA, architectural and cost review) and verify MAP and/or LEAN requirements as experience allows. Researches public information and market data to compare to data in third party reports as requested or directed by Senior Underwriter(s) and as experience allows.
Processes invoices and prepares accounting forms, request checks. Tracks and updates project budget in good faith account. Monitors project timelines and tracks report due and expiration dates. Schedules and participates in conference calls with borrower(s), third parties, and HUD. Assists to maintain information on pipeline report(s). Assists with technical problems. Assists in the preparation of project timetables and third party fee summaries for borrower(s).
HUD Interaction Help to prepare documents for "concept" meetings with HUD. Requests and follows up on HUD team approval(s).
Assists Underwriter(s) through researching public information such as tax, assessment, and zoning information and create parcel, zoning, area, and neighborhood maps, aerial pictures, etc. for information purposes as requested or directed by Senior Underwriter(s). Senior level Analyst may conducts site inspections of local projects as directed with Underwriter. Senior Level Analyst may assists in analyzing current and historical financial statements and replacement reserves schedules. May attend Loan Committee meetings as directed. Assists in the identification of project strengths and weaknesses.
Represents the company within the real estate lending industry. Participates in real estate, mortgage banking and FHA professional organizations.
Other duties as assigned.
No supervisory responsibility at this level.
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.
Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
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. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
EDUCATION and EXPERIENCE
Bachelor's degree from a four-year college or university required. Some college cursor finance (FHA loan processing and underwriting experience may be substituted for education on a year for-year basis). Minimum 1 year experience in commercial real estate finance or related field.
CERTIFICATES and/or LICENSES
Excellent written and verbal communication skills. Strong organizational and analytical skills. Ability to provide efficient, timely, reliable and courteous service to customers. Ability to effectively present information.
Requires knowledge of financial terms and principles. Ability to calculate intermediate figures such as percentages, discounts, and/or commissions. Conducts basic financial analysis.
Ability to understand and carry out general instructions in standard situations. Ability to solve problems in standard situations. Requires intermediate analytical and quantitative skills.
OTHER SKILLS and/or ABILITIES
Working knowledge of Microsoft Office Suite products Word, Excel, Power Point and data application such as Access or Argus. Working knowledge of Argus. May be required to travel as needed.
SCOPE OF RESPONSIBILITY
Decisions made with general understanding of procedures and company policies to achieve set results and deadlines. Errors in judgment may cause short-term impact to co-workers and supervisor.
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