Home Loan Specialist Jobs

The Home Loan Specialist Underwriting Specialist performs the full range of loan and grant processing and underwriting duties in the review and evaluation of the financial profile of applicants and the ultimate determination of eligibility for Commission affordable for-sale, rehabilitation, accessory dwelling unit, and first time home buyer loan programs. Positions at this level receive only occasional instruction or assistance as new or unusual situations arise and are fully aware of the operating procedures and policies of the work unit. Responsibilities include performing diverse and specialized work requiring the application of clearly defined policies, procedures, and regulations, and involve frequent contact with the public

Responsibilities

Performs the full range of routine to complex administrative and technical duties involved in processing, and evaluating application materials, underwriting, and funding of affordable housing opportunities to eligible program participants.

Oversees Affordable For-Sale and Accessory Dwelling Unit program eligibility, interest list, annual recertification process and other related functions.

Underwrites Housing Commission single-family loans including calculating income and debt-to-income ratios of borrowers, loan-to-value ratios, analyzing credit reports, insurance requirements etc. in accordance with Commission guidelines and policy.

Reviews loan applications of property owners and first-time home buyers to determine their financial profile and eligibility under existing lending programs administered by the Commission; advises property owners and home buyers of available financial assistance and assists in loan/grant application preparation.

Investigates, reviews, and evaluates data including coordinating with first-time home buyers’ primary lenders to obtain all necessary documentation for underwriting, evaluating applicants’ credit worthiness and assessing repayment ability, and verifying borrowers’ assets; furnishes borrowers with information regarding program rules, policies, and procedures.

Prepares accurate loan packages for review and approval by Commission management, the Loan Committee, or the Commission.

Researches credit reports, property appraisal reports, preliminary title reports, income verification documents, property insurance documents and other applicant-related material, including calculating loan-to-value on property, and performing loan underwriting in accordance with Commission criteria and various loan program parameters.

Coordinates sales of properties within the Affordable for-sale program with homeowners, real estate agents, developers, escrow agents, and title companies.

Reviews preliminary investigations of suspected program violation or fraud identified by self or other staff, applies appropriate analytical practices and techniques in conducting investigations and documenting findings, prepares summary for management and legal review.

Takes lead in developing and testing process improvement methodologies at direction of Vice President, Single-family Housing Finance; ensures departmental procedures remain updated.

Conducts loan sign-ups with borrowers, including preparing documents, closing and funding loans, preparing and forwarding instructions to escrow companies and instructions to title companies for recording, and preparing various HUD, State, and Commission loan reports.

Assists in developing new procedures and loan documentation formats; develops and maintains program manual, guidelines, applications, disclosures, underwriting and analysis forms, and funding packets.

Maintains complete and accurate document and computer files; prepares and submits required reports on loan application status.

Serves as a liaison to employees, the public, private organizations, government agencies, community groups, and other organizations; provides information and assistance regarding assigned programs and services; receives and responds to complaints and questions relating to assigned area of responsibility; reviews problems and recommends corrective actions.

Enters and retrieves information and data using standard word processing and spreadsheet software, as well as accounting, financial, and other related electronic information systems specific to the department to which assigned.

Reviews source documents for accuracy, receipt of necessary information, and compliance with rules, regulations, and procedures; determines proper handling for compliance.

Receives inquiries via telephone, email, or mail; resolves any issues, problems, or requests using established procedures.

Generates and assists in the preparation of monthly, quarterly, and year-end summary and technical reports.

Assists Vice President, Single-family Housing Finance, with special projects as required

Performs other duties as assigned

Qualifications

Intermediate to advanced principles, practices, and procedures of mortgage underwriting and qualification, real estate loan closings and evaluation.

Federal, State, and local programs available to first-time homebuyers such as Mortgage Credit Certificates, Deferred Loans, Down Payment/Closing Cost Assistance Grants, Affordable for-sale housing and Neighborhood Stabilization programs.

Principles and practices of real estate lending, loan approval underwriting, and real estate loan packaging and evaluation.

Practices and techniques used to conduct credit worthiness analyses, property valuation, and property title investigation.

Thorough understanding of credit and an ability to review complex financial and legal loan-related documents.

Excellent written and verbal communication skills.

Processes, procedures, and requirements for assigned programs and functional areas.

Mathematical, financial, and statistical techniques.

Record-keeping principles and procedures.

Modern office practices, methods, and computer equipment and computer applications related to work, including word processing and spreadsheet software.

English usage, grammar, spelling, vocabulary, and punctuation.

Techniques for providing a high level of customer service by effectively dealing with the public, vendors, contractors, and Commission staff