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: Loan Underwriting Are you passionate about affordable lending and helping first‑time home buyers? If so, we invite you to join a fast‑paced team of underwriters and loan processors that focuses on programs to help low‑to‑moderate income home buyers.
The Home Ownership group consists of Home Ownership Lending, Community Programs and Rehabilitation Programs, as well as the Documentation and Compliance team. Home Ownership Lending is responsible for day‑to‑day underwriting, outreach and training of the Agency’s NC Home Advantage suite of products. The group manages the review and approval of mortgage files, monthly training and daily outreach to support their lender network, as well as handling daily interactions with the Master Servicer on the post‑closings of mortgage loans.
Grade / Salary Range NC12: $58,303 – $71,057
Main Objectives and Responsibilities
Interprets, develops and maintains Home Ownership Lending Program Guidelines for programs such as Mortgage Revenue Bonds and 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 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 make underwriting recommendations or 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.
Provide guidance and support to outside partners such as lenders, realtors, title companies and closing attorneys by answering inquiries related to the Loan Files review process and Home Ownership Lending guideline interpretation.
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.
Leverage relevant internal systems, such as the Home Ownership System, to communicate with lenders throughout the loan file review process and ensure files contain complete and accurate information for 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.
Propose improvements to Agency line‑of‑business systems, such as Home Ownership Systems, Online 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.
Respond to periodic QA/QC audits conducted by the 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.
Support other Home Ownership Program 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 post‑closing activities.
Assists with routine post‑closing activities, such as clearing conditions on closed loan documents to ensure they meet Agency requirements.
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.
Benefits
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 401(k) & 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
The North Carolina Finance Agency (Agency) is an equal opportunity employer. It is the policy of the Agency to prohibit discrimination and harassment of any type and to provide all employees and applicants for employment with equal employment opportunities in an environment free from harassment without regard to race, religion, color, national origin, ethnicity, sex, pregnancy, gender identity or expression, sexual orientation, age (40 or older), political affiliation, National Guard or veteran status, genetic information, or disability.
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Residency: Must be a resident of North Carolina.
Location: Remote/Hybrid allowed.
Group - Home Ownership Programs: Loan Underwriting Are you passionate about affordable lending and helping first‑time home buyers? If so, we invite you to join a fast‑paced team of underwriters and loan processors that focuses on programs to help low‑to‑moderate income home buyers.
The Home Ownership group consists of Home Ownership Lending, Community Programs and Rehabilitation Programs, as well as the Documentation and Compliance team. Home Ownership Lending is responsible for day‑to‑day underwriting, outreach and training of the Agency’s NC Home Advantage suite of products. The group manages the review and approval of mortgage files, monthly training and daily outreach to support their lender network, as well as handling daily interactions with the Master Servicer on the post‑closings of mortgage loans.
Grade / Salary Range NC12: $58,303 – $71,057
Main Objectives and Responsibilities
Interprets, develops and maintains Home Ownership Lending Program Guidelines for programs such as Mortgage Revenue Bonds and 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 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 make underwriting recommendations or 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.
Provide guidance and support to outside partners such as lenders, realtors, title companies and closing attorneys by answering inquiries related to the Loan Files review process and Home Ownership Lending guideline interpretation.
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.
Leverage relevant internal systems, such as the Home Ownership System, to communicate with lenders throughout the loan file review process and ensure files contain complete and accurate information for 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.
Propose improvements to Agency line‑of‑business systems, such as Home Ownership Systems, Online 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.
Respond to periodic QA/QC audits conducted by the 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.
Support other Home Ownership Program 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 post‑closing activities.
Assists with routine post‑closing activities, such as clearing conditions on closed loan documents to ensure they meet Agency requirements.
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.
Benefits
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 401(k) & 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
The North Carolina Finance Agency (Agency) is an equal opportunity employer. It is the policy of the Agency to prohibit discrimination and harassment of any type and to provide all employees and applicants for employment with equal employment opportunities in an environment free from harassment without regard to race, religion, color, national origin, ethnicity, sex, pregnancy, gender identity or expression, sexual orientation, age (40 or older), political affiliation, National Guard or veteran status, genetic information, or disability.
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