- Hourly / - BiWeekly /
- Monthly / $60,514.00-$97,159.00 Yearly
A Loan/Insurance Underwriter Supervisor, Multi-Family is the supervisory level of work evaluating the risk involved in granting loans or insurance for multi-family housing or commercial projects. Employees in this class supervise Loan/Insurance Underwriters, Multi-Family.
Employees receive general supervision from an administrator in the Department of Housing and Community Development.
The Loan/Insurance Underwriter Supervisor, Multi-Family is differentiated from Loan/Insurance Underwriter Lead, Multi-Family on the basis of supervisory responsibility. The Loan/Insurance Underwriter Supervisor, Multi-Family has full supervisory responsibility for lower-level Loan/Insurance Underwriters, Multi-Family while the Loan/Insurance Underwriter Lead, Multi-Family assigns and reviews the work and trains Loan/Insurance Underwriters, Multi-Family.
Plans, coordinates, supervises and evaluates the work of Loan/Insurance Underwriters, Multi-Family and other related support staff;
Reviews all contracts, closing papers and other documents on proposed projects for completeness, accuracy and compliance with Federal and State rules and regulations;
Assists higher level officials in developing, promulgating and implementing operating procedures and policy changes;
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 applicants to secure mortgage loans or insurance for multi-family housing projects;
Analyzes feasibility of project, including market area competition or saturation, and income restrictions of buyers or renters;
Performs underwriting analysis to determine acceptability and degree of risk of projects to the State or private lenders;
Recommends approval or denial of underwriting requests based on financial risk to State or private lenders;
Monitors construction draws and sales of approved projects;
Devises plans to avert or minimize losses to the State or private lenders on guaranteed loans or insurance;
Acts as liaison with private lenders to explain State program requirements for multi-family housing mortgage loans or insurance;
Prepares status reports on project information for supervisors;
May conduct lender training;
Performs other related duties.
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 or private lenders in granting loans or insurance for multi-family housing or commercial projects;
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 agency asset management officers, developers, bank officials, attorneys, equal opportunity officers, local government officials, and Federal housing department staff;
Ability to plan, coordinate, supervise, and evaluate the work of Loan/Insurance Underwriters, Multi-Family.
Education: A Bachelor's Degree in Business Administration, Management, Finance or related field.
Experience: Four years of experience evaluating the risk involved in granting loans or insurance for multi-family housing or commercial projects.
Note: 1. Additional experience as 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.
Jan 1, 2015