Senior Loan Underwriting Specialist

Salary: $72,469.70 – $88,277.28 annually

Type: Regular full time, full benefits

Application deadline: June 5, 2023

Remote work options available. Some in-office coverage may be required, as needed. Remote staff must work and reside within a 100-mile radius of the San Diego Housing Commission.

As assessment will be conducted on candidates selected to move forward in the recruitment process.

9/80 Compressed Work Schedule, office closed every other Friday, 14 paid holidays, employer paid pension contribution of 14% to base salary, 457 tax-deferred savings plan, social security exempt, Tuition Reimbursement up to $5,000 annually, Sharp PPO or HMO Plan, Kaiser Permanente HMO Plan, Dental, Vision, Flexible Spending Account (FSA) and more.

To see full benefits package, please visit:

https://www.sdhc.org/sdhc-employee-benefits/.

Class Characteristics:

The Senior Loan 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.

Examples of Essential Job Functions:

• 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:

Knowledge of:

• 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.

Ability to:

• Understand, explain, and apply detailed laws, regulations, policies and procedures pertaining to the application, packaging, processing, evaluation, underwriting, and funding of Commission loans/grants and Mortgage Credit Certificate.
• Deal courteously and communicate effectively with a variety of individuals in the course of the work, including the resolution of disputes and job-related problems with borrowers and lending companies.
• Gather and evaluate information and reach correct conclusions in accordance with lending and underwriting policies and program regulations.
• Apply and enforce applicable Federal, State, and local policies, procedures, laws, and regulations.
• Understand, interpret, and successfully communicate both orally and in writing, pertinent department policies and procedures.
• Prepare clear and concise reports, correspondence, procedures, and other written materials.
• Maintain accurate files and records.
• Organize and prioritize a variety of projects and multiple tasks in an effective and timely manner; organize own work, set priorities, and meet critical time deadlines.
• Operate modern office equipment including computer equipment.
• Ability to learn, comprehend and apply new software programs and specialized software applications programs as they apply to loan underwriting and servicing.
• Use English effectively to communicate in person, over the telephone, and in writing.
• Use tact, initiative, prudence, and independent judgment within general policy, procedural, and legal guidelines.
• Establish, maintain, and foster positive and harmonious working relationships with those contacted in the course of work.

Education & Experience:

Five (5) plus years’ recent experience performing all aspects of single-family mortgage underwriting or credit analysis in a private lending institution or governmental housing assistance agency. BA/BS degree highly preferred.

Licenses and Certifications:

Possession of, or ability to obtain, a valid California Driver’s License by time of appointment.

Physical Demands:

Must possess mobility to work in a standard office setting and use standard office equipment, including a computer; to operate a motor vehicle and to visit various Commission and meeting sites; vision to read printed materials and a computer screen; and hearing and speech to communicate in person, before groups, and over the telephone. This is primarily a sedentary office classification although standing in work areas and walking between work areas may be required. Finger dexterity is needed to access, enter, and retrieve data using a computer keyboard or calculator and to operate standard office equipment. Positions in this classification occasionally bend, stoop, kneel, reach, push, and pull drawers open and closed to retrieve and file information. Employees must possess the ability to lift, carry, push, and pull materials and objects weighing up to 25 pounds.

Environmental Elements:

Employees work in an office environment with moderate noise levels, controlled temperature conditions, and no direct exposure to hazardous physical substances. Employees may interact with upset staff and/or public and private representatives in interpreting and enforcing departmental policies and procedures.