Underwriter III, Specialty Loans (Condo)

Guild Mortgage Company, closing loans and opening doors since 1960. As a mortgage banking firm, we are dedicated to serving the homeowner/buyer. Our goal is to provide affordable home financing for our customers, utilizing the best terms available while providing a level of professionalism and service unsurpassed in the lending industry.

Position Summary

The Underwriter III plays an important role in the organization by performing a number of activities related to the company’s retail operations functions. The role is primarily responsible, under intermittent to infrequent supervision, for underwriting specialty loans such as jumbo, renovation, FHA, VA, USDA, new construction condominium project loans according to company, secondary market investor, and government agency standards. This includes ensuring condominium project documentation associated with the loan applications are accurate and complete, and approving or denying loan applications based on compliance with underwriting standards and risk management factors. The Underwriter III is considered the “go to” subject matter expert when the Lead/Supervisor/Manager is not available.

Essential Functions

• Review and evaluate loan documents to ensure accuracy, completeness, and compliance with company standards, federal and agency standards and guidelines, as well as any applicable state-specific and or local regulations, ordinances, etc.
• Analyze customer’s loan-to-value ratio, debt-to-income ratio, credit report, application, income and assets, source(s) of down payment funds, and supporting documentation to identify potential fraud or misrepresentation.
• Review appraisals to ensure that loans meet secondary market, investor, and company standards.
• Work with Loan Processors and Loan Officers on collecting information and documentation necessary to finalize incomplete loan packages.
• Determine if additional documentation or information would aid loan decision; request additional documentation or information accordingly.
• Perform condominium project eligibility reviews for conventional, FHA, and VA financing programs, including complex project types such as new construction, conversions, and mixed-use developments.
• Analyze condominium project legal, financial, insurance, occupancy, reserve, and operational documentation to determine project eligibility in accordance with agency and investor guidelines.
• Prepare and submit FHA and VA condominium project approval documentation and coordinate with applicable government agencies regarding approval requirements and project status.
• Serve as a resource to loan origination staff, developers, and other stakeholders regarding condominium project approval requirements, documentation deficiencies, and project eligibility determinations.
• Provide options and recommendations to borrowers regarding suitable loan programs.
• Stay abreast of current regulations and industry trends that affect compliance and decision-making.
• Verify that system input is accurate and that company systems match Automated Underwriting System (AUS).
• Use expertise to answer questions and resolve escalated issues from junior-level teammates.
• Perform other duties as assigned.

Education

High School Diploma or equivalent, required

College courses/technical training related to Business, Finance/Accounting, Legal, or related field is preferred

Experience

8 or more years as an underwriter preferably with three years of specialty
experience such as jumbo and renovation loans.

Certifications/Licenses

Direct Endorsement, VA, Auto and SAR endorsements; must have
current certifications for any region with state-specific requirements to
underwrite loans.

Additional Qualifications

• Advanced condominium project underwriting experience, including review and approval of conventional, FHA, and VA condominium projects.
• Experience underwriting new construction condominium developments, condominium conversions, and mixed-use projects preferred.
• Expert-level knowledge of overall mortgage lending processes, including underwriting, funding, and loan processing.
• Expert-level knowledge of valid documentation related to the processing consumer mortgage applications (e.g., tax returns, financial statements and records, verification of income and deposits, etc.).
• Expert-level knowledge of underwriting and regulatory requirements; detailed knowledge of federal, state, and regulatory requirements/guidelines related to consumer mortgage lending and
  internal processes and controls.
• Ability to think critically, including the ability to evaluate facts and data to draw conclusions, and determine the downstream impact of decisions and associated risks.
• Ability to prioritize multiple tasks in a deadline-driven environment; strong sense of urgency and responsiveness.
• Expert knowledge of Fannie Mae and Freddie Mac condominium project eligibility requirements.
• Advanced knowledge of FHA condominium approval requirements, including HRAP and DELRAP review processes.
• Knowledge of VA condominium project approval requirements and submission processes.
• Experience reviewing homeowners association (HOA) financial statements, reserve studies, governing documents, insurance coverage, special assessments, and litigation disclosures.
• Ability to evaluate and document condominium project-level risks, including financial stability, reserve adequacy, insurance sufficiency, ownership concentration, and marketability.

Company Required Skills

• Excellent verbal and written communication skills required.
• Highly organized and detail-oriented; ability to work in a fast-paced, metrics-driven environment required.
• Proficiency in Microsoft Office Suite, Word, Excel, Wiki, collaborative cloud-based programs, and third-party software applications required.
• Commitment to company values.
• Customer Service - Proactive attention to each person
• Integrity - Do and say what's right
• Respect - Treat others with dignity
• Collaboration - Listen and work together
• Learning - Seek knowledge and strive for improvement
• Excellence – Deliver the unexpected

Physical Demands

Work is primarily sedentary; mobility in an office setting.

Manual Dexterity

Ability to operate standard office equipment and keyboards.

Audio/Visual

Ability to accurately interpret sounds and associated meanings at a volume consistent with interpersonal conversation.

Regularly required to accurately perceive, distinguish and interpret information received visually and through audio; e.g., words, numbers and other data broadcasted aloud/viewed on a screen, as well as print and other media.

Environmental

Office environment – moderate noise, no substantial exposure to adverse
environmental conditions.

Mental

Learn new tasks, remember processes, maintain focus, complete tasks independently, and make timely decisions in the context of a workflow.

This role requires effective adaptation to workplace stressors, including customer service complaints, security responsibilities, and competing priorities.

Must be able to adhere to process protocol. Must be able to apply established protocols in a timely manner.

Schedules

Work is primarily performed during the business week, Monday - Friday.

Authority Level

Job Scope: Responsible for understanding the department/functional area objectives and goals and how own job contributes to achievement of these goals; may recommend changes and enhancements based on analysis and evaluation of circumstances.
Complexity: General precedents may exist for most problems; conducts independent research/analysis to identify the appropriate approach.
Impact: Decisions and actions primarily impact own work with limited impact on peers in their area, contributes as team member rather than leader.
Interaction/Supervision: Work is monitored under general supervision of supervisor and by following established, specific procedures described by supervisor; May act as a guide to less experienced staff in similar role and/or student employees; generally, does not have formal responsibility for overseeing others.

Indirect Reports

~1 (may vary), Underwriting Assistant

Statement
This document describes the general content and identifies essential functions and requirements for performing this position. It is not intended to be an exhaustive statement of duties, responsibilities, or requirements. Guild Mortgage complies with the ADA and considers reasonable accommodation measures that may be necessary for eligible applicants/employees to perform essential job functions.
Employment with Guild Mortgage is “at-will,” meaning that either the Company or an employee may terminate the employment relationship at any time, with or without cause, advance notice or stated justification.

Guild offers a pleasant work environment, competitive compensation and excellent benefits package; including medical, dental, vision, life insurance, AD&D, LTD and 401(k) with employer match.

Guild Mortgage Company is an Equal Opportunity Employer.

Target Salary Range: $ 37.22 - $ 55.83

Compensation at Guild is influenced by a wide array of factors including but not limited to local and federal minimum wage requirements, education, level of experience, and applicant’s geographical location.