Senior Underwriter - Copiague, United States - Sharestates

Sharestates Copiague, United States

1 week ago

Description

Job Description

Job Description

Job Description

Sr. Underwriter

Classification:
Exempt - This is not a remote position

Reports to:
Associate Director of Underwriting

Summary/Objective
The Sr.

Underwriter is responsible for supporting loan origination volume by conducting loan-level due diligence to underwrite loans on SFR (1-4 units) and multi-family or mixed-use properties.

The Sr. Underwriter reports directly to the Associate Director of Underwriting.

Essential Functions
Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.
Responsible for conducting loan-level due diligence and ensuring each loan conforms to our underwriting and/or investor guidelines
Manage a pipeline of loans submitted for closing.

Interact with other areas of the firm, including processing, sales, and the closing/funding teams, as well as servicing and secondary sales teams.

Issue updated final underwriting approval with terms and assign to legal team/attorney.
Document all activities in our system and provide feedback on improvement as necessary.
Review contingencies and underwrite rehabilitation and construction budgets.
Carry out requisite loan calculations (LTV, LTC, ARV, DSCR, DTI, etc.)
Verify market comparables for both rental values as well as property sale values.
Conduct appraisal analysis to determine acceptable collateral standards are met.
Property valuation using online tools available to determine values given by appraisal is appropriate and substantiated.

Review and approve third-party reports, including property appraisals, physical needs assessments, environmental reports, lease abstracts, title reports, insurance binders, etc.

Keep informed of current Secondary Market guidelines
Maintain productivity level and turn times as established by management
Pricing loans using internal Excel tools or various external investor pricing models
Perform other duties as required

Requirements

Bachelor's degree
7+ years in lending operations for real estate as an underwriter
Experience in appraisal reviews or developing valuation on SFR and/or multi-family or mixed-use properties
Experience in managing/mentoring Junior Underwriters
Knowledge of loan underwriting and related activities
Superb communication, organization, and interpersonal skills

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