State of Maryland

LOAN/INSURANCE UNDERWRITER II, SINGLE FAMILY (#001730)

- Hourly / - BiWeekly /
- Monthly / $49,971.00-$79,996.00 Yearly


GRADE

17

NATURE OF WORK

A Loan/Insurance Underwriter II, Single Family is the full performance level of work evaluating the risk involved in granting loans or insurance for single family home mortgages. Employees in this class do not supervise.

Employees receive general supervision from a Loan/Insurance Underwriter Supervisor, Single Family or other administrative personnel.

The Loan/Insurance Underwriter Trainee, Loan/Insurance Underwriter I, Single Family and Loan/Insurance Underwriter II, Single Family are differentiated on the basis of degree of supervisory control exercised by the supervisor over these employees. The Loan/Insurance Underwriter Trainee learns to perform duties under close supervision, the Loan/Insurance Underwriter I, Single Family performs duties under close supervision at times and under general supervision at other times depending on the complexity of the specific duty being performed and the Loan/Insurance Underwriter II, Single Family performs the full range of duties under general supervision. The Loan/Insurance Underwriter II, Single Family is differentiated from the Loan/Insurance Underwriter Supervisor, Single Family on the basis of supervisory responsibility. The Loan/Insurance Underwriter Supervisor, Single Family has full supervisory responsibility for lower-level Loan/Insurance Underwriters, Single Family.

EXAMPLES OF WORK

Reviews and analyzes project information, including cash flow and debt service computations and cost certification, to determine if buyer, property and loan conditions meet State standards;

Reviews applications for compliance with Federal and State rules and regulations, and program emphasis;

Determines the amount of funding needed by the applicant to secure a mortgage loan or insurance for a single family home;

Performs underwriting analysis to determine acceptability and the degree of risk of projects to the State;

Recommends approval or denial of underwriting requests based on financial risk to State;

Monitors construction draws and sales of approved projects;

Devises plans to avert or minimize losses to the State on guaranteed loans or insurance;

Acts as liaison with private lenders to explain State program requirements for single family mortgage loans or insurance;

Prepares status reports on project information for supervisors;

May conduct lender training;

May assist in developing procedures to improve and facilitate loan processing for mortgage loans or insurance for single family homes;

Performs other related duties.

KNOWLEDGE, SKILLS AND ABILITIES

Knowledge of mortgage loan and mortgage insurance analysis and evaluation;

Knowledge of Federal and State housing programs;

Knowledge of real estate law;

Knowledge of financial and accounting practices;

Skill in evaluating the risk involved to the State in granting loans or insurance for single family mortgages;

Skill in evaluating debt service coverage, real estate sites and real estate markets;

Skill in interpreting financial statements;

Skill in using computerized spreadsheet applications and software;

Ability to perform arithmetic calculations;

Ability to develop and present reports, analyses and recommendations;

Ability to establish and maintain effective working relationships with bank officials, attorneys, equal opportunity officers and Federal housing department staff.

MINIMUM QUALIFICATIONS

Education: A Bachelor's Degree in Business Administration, Management, Finance or related field.

Experience: Two years of experience evaluating the risk involved in granting loans or insurance for single family home mortgages.

Note: 1. Additional experience described above may be substituted on a year-for-year basis for the required education.

2. Candidates may substitute U.S. Armed Forces military service experience as a commissioned officer in loan specialist classification or loan specialist specialty codes in the loan specialist field of work on a year-for-year basis for the required experience and education.

 

LICENSES, REGISTRATIONS AND CERTIFICATIONS

N/A

ACKNOWLEDGEMENTS

Class specifications are broad descriptions covering groups of positions used by various State departments and agencies. Position descriptions maintained by the using department or agency specifically address the essential job functions of each position.

Date Established

Oct 1 1996 12:00AM

Date Revised

Jan 1, 2015

 

Approved By

Director, Division of Classification and Salary

CLASS: 001730; EST: 10/1/1996; REV: 1/1/2015;

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