- Hourly / - BiWeekly /
- Monthly / $34,174.00-$53,658.00 Yearly
A Loan/Insurance Underwriter Assistant is the full performance level of specialized work providing staff support to Loan/Insurance Underwriters. Employees in this class do not supervise.
Employees receive general supervision from a Loan/Insurance Underwriter or other administrative personnel. The work may require travel to housing sites.
A Loan/Insurance Underwriter Assistant is differentiated from a Loan/Insurance Underwriter I in that a Loan/Insurance Underwriter Assistant is responsible for gathering and verifying information in preparation of the loan or insurance application. The Loan/Insurance Underwriter I performs the technical underwriting tasks and presents recommendations to the decision making committee.
Provides information to mortgage applicants and to counterparts in other agencies;
Examines mortgage applications, preclosing and closing statements, and similar documents for completeness and accuracy;
Inspects rental projects that are receiving or may receive loans to obtain data on unit sizes, project amenities, rents, and utility costs;
Maintains records of the status of loans in the preclosing stage and advises higher level administrators of any issues or problems that may delay closing;
Attends preclosing conferences to get information about issues that remain to be resolved and additional documents that are needed;
Arranges conference calls or similar consultations between attorneys, loan officers, developers, etc. to solve problems prior to closing dates;
Attends loan closing meetings to notarize documents and assist with procedural matters;
Determines that all post closing issues have been settled and notifies fiscal unit that funds can be disbursed;
Completes loan closing transcripts;
Prepares a monthly report of open loan items, the date of last action, and current status;
Enters data on loans, sponsors and developers, market analysis, and similar matters into an automated information system.
Performs other related duties.
Knowledge of application practices and documents for mortgage loan and mortgage insurance;
Knowledge of lending forms and of loan closing transcripts;
Ability to gather or verify financial information;
Ability to inspect rental properties to gather prescribed information;
Ability to maintain complete and accurate files of loan or insurance applications in various stages of processing;
Ability to maintain information and prepare regularly scheduled reports concerning status of applications;
Ability to enter data into automated systems.
Education: Graduation from an accredited high school or possession of a high school equivalency certificate.
Experience: Two years of experience providing administrative or clerical support in a housing program or lending operation.
1. Additional experience as described may be substituted on a year for year basis for the required education.
2. A certificate in Housing Finance and Development from the University of Maryland may be substituted for the required experience.
3. Additional education at an accredited institution of higher education in real estate, business administration, or banking may be substituted for the required experience at a rate of 30 credits for one year.
4. Candidates may substitute U.S. Armed Forces military service experience as a non-commissioned officer in the Loan Specialist classification series or Loan Specialist specialty codes on a year-for-year basis for the required experience.
Jan 1, 2015