Loan Underwriter, MRB
NCHFA, Raleigh, NC, United States
At NCHFA, we provide safe, affordable housing opportunities to enhance the quality of life of North Carolinians. We are a self-supporting public agency that, since its creation by the General Assembly, has financed more than 310,700 affordable homes and apartments.
Residency Must be a resident of North Carolina
Location Remote/Hybrid allowed
Group Home Ownership Programs
In-office Requirements Occasionally, as required
Grade / Salary Range NC12 / $58,303 - $71,057
Main Objectives Interprets, develops and maintains Home Ownership Lending Program Guidelines for programs such as Mortgage Revenue Bonds, Mortgage Credit Certificate.
Uses good understanding of the Home Ownership Lending Program guidelines to interpret routine and moderately complex loan scenarios.
Assists with the research of relevant industry rules and regulations, such as those issued by IRS, FHA, USDA, VA, Fannie Mae and Freddie Mac or partner organizations, which impact on the Agency Program guidelines.
Researches changes to specific industry rules and regulations and informs more senior colleagues for follow up action.
Stays abreast of industry policies and guidelines and their potential impact on the Home Ownership Lending Program guidelines and the Loan File review and underwriting / approval process.
May participate in on-site and off-site training and information seminars in conjunction with Agency staff supporting our participating lenders, housing counselors, Realtors, and other Agency partners.
Attends industry and NCSHA webinars and monthly conference calls to stay abreast of industry practices.
May assist more senior colleagues with preparation of materials or presentations for external calls and webinars.
Review loan files submitted by partnering lender organizations to ensure compliance with the Home Ownership Lending Program Guidelines and makes underwriting recommendations or/and decisions.
Relies on good knowledge and experience to interpret and apply Program guidelines for making underwriting decisions on assigned underwriting files of basic to moderate degree of complexity.
Provides guidance and support to outside partners, such as lenders, realtors, title companies and closing attorneys by answering their inquiries related to the Loan Files review process, Home Ownership Lending guidelines interpretation and application and other issues.
Responds to basic to moderately complex inquiries from outside partners, such as program interpretation related questions.
Provides direction to partners on relevant sections of Home Ownership Lending guidelines.
Leverages relevant internal systems, such as the Home Ownership System, to communicate with the lenders throughout the loan file review process and ensure files contain complete and accurate information to make underwriting decisions.
Reviews documents uploaded by the lenders into system(s) for compliance with the Home Ownership Lending Program guidelines and “attached conditions”, and communicates the need for additional information or clarification to the lenders.
Monitors assigned loan files for pended conditions and clears conditions as corrected information is provided by the lenders.
Approves (“clears”) conditions for routine and moderately complex scenarios covered in the Home Ownership Lending Program guidelines.
Learns how more complex conditions, requiring interpretation of Home Ownership Lending program guidelines are addressed by observing more senior colleagues.
Proposes improvements to Agency line of business systems, such as Home Ownership Systems, On-line System Ratelocks, and CONNECT related to the Loan file review and underwriting process.
Uses good understanding of Agency line-of-business systems, such as HOS and OLS for the loan file review and underwriting process.
Learns other Agency systems, such as Ratelocks and CONNECT.
Performs assignments related to entering and extracting relevant data from the system, and reviews and analyzes the data.
Makes recommendations for process improvements and related changes in the system(s) to more senior team members, and may recommend solutions.
Responds to periodic quality assurance (QA)/quality control (QC) audits conducted by internal Legal group, addressing audit findings and implementing periodic updates and improvements to the loan file review and underwriting process and Agency Program guidelines.
Responds to QA/QC audits of assigned Loan files by obtaining necessary items from lenders and other outside parties and updating systems, such as OLS with corrected information and data, with guidance from more senior team members.
Uses audit results to learn and improve on future underwriting.
Supports other Home Ownership Program (HOP) groups and staff, such as HOME Program underwriting (Home Ownership Community and Community Partner Loan Pool).
Uses good understanding of other Home Ownership programs, such as HOME Federal program underwriting, to perform specific tasks and responsibilities such as explaining CPLP program or providing basic guidance to lenders/partners on using internal systems such as MSTR data.
Support of post-closing activities
Assists with routine post-closing activities, such as clearing conditions on closed loan documents to insure they meet Agency requirement.
Education & Experience Bachelor’s Degree in Business or Business Administration, Finance, Accounting, Economics, Mathematics, or related field. 2+ years of relevant underwriting experience with the Agency or in the private sector as an underwriter of residential government and non-government mortgage loans.
Will consider an equivalent combination of relevant education and experience Knowledge, Skills, & Abilities
Good industry knowledge in FHA, VA, USDA, and conventional underwriting standards and programs.
Good understanding of appraisal and property standards, such as appraisal red flags and property issues reported by appraiser.
Good understanding of credit report analysis, such as credit depth, credit history, and red flags.
Basic title and property insurance knowledge or experience.
Good time management skills and familiarity with mortgage underwriting and Home Ownership Lending programs.
Team player with solid communication skills.
General understanding of the Home Ownership Lending and other Agency line-of-business systems.
Salary is commensurate with relevant education and experience Major Medical > Dental> Vision> Health Care FSA> Dependent Day Care FSA> Cancer> Critical Illness> Disability (long and short-term) > Voya Travel Assistance> Term Life> Accidental Death & Dismemberment> Accident> Voluntary 401k & 457> Teachers’ and State Employees Retirement System (PENSION!) > Continuing Education> Professional Development> Annual Longevity Check (at service milestones)
Paid Time Off: 12 holidays + Accrued Vacation> Sick> Personal> Community Service/Parental> Personal Observance> Bereavement>FMLA> Family Illness Leave> Paid Parental Leave
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Residency Must be a resident of North Carolina
Location Remote/Hybrid allowed
Group Home Ownership Programs
In-office Requirements Occasionally, as required
Grade / Salary Range NC12 / $58,303 - $71,057
Main Objectives Interprets, develops and maintains Home Ownership Lending Program Guidelines for programs such as Mortgage Revenue Bonds, Mortgage Credit Certificate.
Uses good understanding of the Home Ownership Lending Program guidelines to interpret routine and moderately complex loan scenarios.
Assists with the research of relevant industry rules and regulations, such as those issued by IRS, FHA, USDA, VA, Fannie Mae and Freddie Mac or partner organizations, which impact on the Agency Program guidelines.
Researches changes to specific industry rules and regulations and informs more senior colleagues for follow up action.
Stays abreast of industry policies and guidelines and their potential impact on the Home Ownership Lending Program guidelines and the Loan File review and underwriting / approval process.
May participate in on-site and off-site training and information seminars in conjunction with Agency staff supporting our participating lenders, housing counselors, Realtors, and other Agency partners.
Attends industry and NCSHA webinars and monthly conference calls to stay abreast of industry practices.
May assist more senior colleagues with preparation of materials or presentations for external calls and webinars.
Review loan files submitted by partnering lender organizations to ensure compliance with the Home Ownership Lending Program Guidelines and makes underwriting recommendations or/and decisions.
Relies on good knowledge and experience to interpret and apply Program guidelines for making underwriting decisions on assigned underwriting files of basic to moderate degree of complexity.
Provides guidance and support to outside partners, such as lenders, realtors, title companies and closing attorneys by answering their inquiries related to the Loan Files review process, Home Ownership Lending guidelines interpretation and application and other issues.
Responds to basic to moderately complex inquiries from outside partners, such as program interpretation related questions.
Provides direction to partners on relevant sections of Home Ownership Lending guidelines.
Leverages relevant internal systems, such as the Home Ownership System, to communicate with the lenders throughout the loan file review process and ensure files contain complete and accurate information to make underwriting decisions.
Reviews documents uploaded by the lenders into system(s) for compliance with the Home Ownership Lending Program guidelines and “attached conditions”, and communicates the need for additional information or clarification to the lenders.
Monitors assigned loan files for pended conditions and clears conditions as corrected information is provided by the lenders.
Approves (“clears”) conditions for routine and moderately complex scenarios covered in the Home Ownership Lending Program guidelines.
Learns how more complex conditions, requiring interpretation of Home Ownership Lending program guidelines are addressed by observing more senior colleagues.
Proposes improvements to Agency line of business systems, such as Home Ownership Systems, On-line System Ratelocks, and CONNECT related to the Loan file review and underwriting process.
Uses good understanding of Agency line-of-business systems, such as HOS and OLS for the loan file review and underwriting process.
Learns other Agency systems, such as Ratelocks and CONNECT.
Performs assignments related to entering and extracting relevant data from the system, and reviews and analyzes the data.
Makes recommendations for process improvements and related changes in the system(s) to more senior team members, and may recommend solutions.
Responds to periodic quality assurance (QA)/quality control (QC) audits conducted by internal Legal group, addressing audit findings and implementing periodic updates and improvements to the loan file review and underwriting process and Agency Program guidelines.
Responds to QA/QC audits of assigned Loan files by obtaining necessary items from lenders and other outside parties and updating systems, such as OLS with corrected information and data, with guidance from more senior team members.
Uses audit results to learn and improve on future underwriting.
Supports other Home Ownership Program (HOP) groups and staff, such as HOME Program underwriting (Home Ownership Community and Community Partner Loan Pool).
Uses good understanding of other Home Ownership programs, such as HOME Federal program underwriting, to perform specific tasks and responsibilities such as explaining CPLP program or providing basic guidance to lenders/partners on using internal systems such as MSTR data.
Support of post-closing activities
Assists with routine post-closing activities, such as clearing conditions on closed loan documents to insure they meet Agency requirement.
Education & Experience Bachelor’s Degree in Business or Business Administration, Finance, Accounting, Economics, Mathematics, or related field. 2+ years of relevant underwriting experience with the Agency or in the private sector as an underwriter of residential government and non-government mortgage loans.
Will consider an equivalent combination of relevant education and experience Knowledge, Skills, & Abilities
Good industry knowledge in FHA, VA, USDA, and conventional underwriting standards and programs.
Good understanding of appraisal and property standards, such as appraisal red flags and property issues reported by appraiser.
Good understanding of credit report analysis, such as credit depth, credit history, and red flags.
Basic title and property insurance knowledge or experience.
Good time management skills and familiarity with mortgage underwriting and Home Ownership Lending programs.
Team player with solid communication skills.
General understanding of the Home Ownership Lending and other Agency line-of-business systems.
Salary is commensurate with relevant education and experience Major Medical > Dental> Vision> Health Care FSA> Dependent Day Care FSA> Cancer> Critical Illness> Disability (long and short-term) > Voya Travel Assistance> Term Life> Accidental Death & Dismemberment> Accident> Voluntary 401k & 457> Teachers’ and State Employees Retirement System (PENSION!) > Continuing Education> Professional Development> Annual Longevity Check (at service milestones)
Paid Time Off: 12 holidays + Accrued Vacation> Sick> Personal> Community Service/Parental> Personal Observance> Bereavement>FMLA> Family Illness Leave> Paid Parental Leave
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