Job Description

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Job Description

Reporting to the Chief Underwriter, the Deputy Chief Underwriter is responsible for supervising and providing QC for the timely preparation and delivery of loan analyses and narratives to ensure consistency with Department of Housing and Urban Development (HUD) requirements including: Summary of historical property operations, reviewing physical site inspection results, reviewing credit and financial analysis of key sponsors, reviewing and approving third party report results including property appraisals, physical needs assessments, and environmental reports.

  • Manages and provides leadership to the underwriting team.
  • Directly hires, trains, conduct reviews, performance management, mentor, actively supervise and develop talent within the underwriting team.
  • Responsible for HUD credit approval of quality decisions for transactions as delegated by the Chief Underwriting Officer.
  • Evaluates applications for FHA multifamily loans. If qualified, process loan applications through the FHA loan approval process, through underwriting and closing.
  • Work with Chief Underwriting Officer on the securitization of the loan through Ginnie Mae and execute the sale of the securities in the marketplace.
  • Work with the Senior Portfolio Manager and the Bank’s loan operations center on loan administration and loan servicing for the Ginnie Mae security holders.
  • Oversees front-end screening of transactions with Acquisitions team.
  • Assess transaction risk, provide risk mitigation strategies, and deal structuring recommendations.
  • Works collaboratively with the origination platform to problem solve and develop creative transaction structuring solutions delivering best-in-class execution.
  • Interfaces directly with the borrowers and external clients when necessary.
  • Reviews and submits waivers and Pre-review submissions to HUD.
  • Provides ultimate recommendations for investment decisions to FHA/Multifamily Loan Committee.
  • Develops interfaces and maintains strong relationships with HUD credit counterparts.
  • Initiates and facilitates process enhancement concepts and ideas.
  • Manages and prioritizes underwriting and screening assignments for the team.
  • Tracks pipeline within timing benchmarks established by HUD.
  • Performs other duties and projects as assigned.
Required Skills
  • Strong analytical abilities to grasp complex transactional issues and assess risk.
  • Strong organizational, communication and multi-tasking skills are necessary.
  • Ability to read, analyze and interpret complex documents and provide succinct credit decisions with the necessary support for those decisions.
  • Ability to respond effectively to the most sensitive inquiries or complaints. Ability to succinctly and accurately present information and respond to questions from borrowers, employees, executive level management, and HUD personnel.
  • Strong verbal and written communication skills, interpersonal skills and writing ability.
  • High level of personal accountability.
  • Must be detail oriented.
  • Proficient use of MS Office.
  • Experience analyzing business financial statements and assessing the viability of business.
  • Knowledge of banking products and services.
  • Understanding of accounting & finance.
  • Travel, as required.
  • The ability to lift up to 10-15 pounds.
  • Highly motivated, self-driven individual who can think strategically, operate independently and take accountability for the function.
  • Ability to motivate, influence and collaborate with others both internally and externally.
  • Must have the ability to multi-task in a fast paced environment and prioritize focus on most impactful activities.
  • Strong analytical, critical thinking and problem solving skills.
  • The ability to effectively manage others.
  • Demonstrates a commitment to Relationships F•I•R•S•T in all areas of job performance.
Required Experience
  • Bachelor's degree required; accounting and/or finance degree preferred.
  • Minimum of seven (7) years of multifamily agency underwriting experience specifically in HUD.
  • Experience with new construction HUD loans 221(D)(4) and 223(F).
  • Minimum of four (4) years experience as a Senior Underwriter.
  • Thorough knowledge and application of MAP Guide.
  • Minimum of three (3) years of previous management experience.

We are an equal opportunity employer. Employment selection and related decisions are made without regard to sex, race, age, disability, religion, national origin, color or any other protected class

Job Location
Vienna, Virginia, United States
Position Type

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