FHA Underwriter - Multifamily Capital Markets

Newmark Knight Frank
Bethesda, MD
Jan 14, 2019
Jan 28, 2019
Accountant, IT
Full Time
Newmark Knight Frank (NKF), operated by Newmark Group, Inc. (NASDAQ: NMRK), is one of the world's leading commercial real estate advisory firms. We provide a fully integrated platform of services to prominent multinational corporations and institutional investors across the globe, as well as to occupiers, owners and developers of real estate on a local, regional and national level. Together with London-based partner Knight Frank and independently-owned offices, NKF's 14,100 professionals operate from more than 400 offices in established and emerging property markets on six continents. The Multifamily Capital Markets platform is the preeminent source of capital solutions for multifamily owners and operators. With a nationwide presence and unparalleled expertise, a 30+ year history and a servicing portfolio of $58 billion representing in excess of 3,400 loans in 49 states. A top five Fannie Mae and Freddie Mac Lender in 2017, the Multifamily Capital Markets Group offers a full complement of GSE, FHA, Life Company and Conduit products paired with extensive multifamily, affordable, student, seniors housing and healthcare expertise. This extensive and diverse national platform provides clients with superior execution in every market across the country. Job Description:The FHA Underwriter will be responsible for underwriting and reviewing potential FHA/HUD loans to ensure that loan requests meet program specifications and financial feasibility based on review and analysis of Third Party Reports, financials, mortgage analysis, and other credit documents. The FHA Underwriter will also be responsible for managing day-to-day activities of assigned Underwriting Team; Loan Coordinator(s) and Analyst(s) and providing guidance, support and direction throughout the underwriting process. Essential Job Duties: Review, Analyze & Assess Risk (55%)Analyze credit documents; mortgage applications, credit history and income documents, title documents, appraisals, environmental reports, capital needs report, cost and A/E reports and all applicable compliance documentsEvaluate debt ratio, loan-to-value ratios, credit score, property valuation and various other factors throughout the underwriting processIdentify portfolio risks resulting from Borrower's underlying business practices, underwriting and/or fraud exposureIdentify risks early and throughout underwriting process, communicate concerns to Originator and escalate issues to Chief Underwriter in a timely mannerDetermine and document loan conditions and communicate requirements and rationale of decisions to BorrowerPrepare and present at internal Loan Committee highlighting risks and mitigants prior to Firm Application loan submissionGenerate Loan Summary Narrative, Third Party report reviews, and transmittal lettersReview and complete 92013, 92664, 92273, 92274, 92264a, and other various HUD formsPresent Underwriting conclusions to HUD at required Concept Meetings and other related transactional meetings, as necessaryConduct Lender's physical inspection site visits as part of underwriting due diligence, and accompany Third Party Consultant and / or HUD personnel, as necessaryManage Underwriting Team (25%)Participate in BPC pipeline management meetings to communicate project status updates; request additional resources as neededManage and support members of Underwriting Team including work pace, quality of work and timeliness. Regularly attend FHA Department meetings to support/ supervise members of the assigned Underwriter TeamTake an active role in identifying potential challenges within the underwriting process/department and make recommendations for improvementsFirm Commitment, Rate Lock & Loan Closing (10%)Work in coordination with BPC Closing Manager to address Firm Commitment Special Conditions and ensure required documents are complete and updated as necessary for an expeditious closing processPrepare Amendment requests in coordination with the Closing ManagerResearch and Compliance (10%)Identify and evaluate Third Party providers (Appraisal, Market Analyst, PCNA, A&E, and Cost)Coordinate timely engagement of Third Parties including verifying funds on hand and initial documents requested are availableProfessionally communicate the results of file reviews both verbally and in written format internally and to external customersReview and apply new information received regarding HUD and underwriting guidelines, BPC policies, and processing procedures including awareness of expiration dates of HUD formsResearch HUD/FHA Handbook and Regulations as needed with strict adherence to all FHA policies and proceduresMaintain knowledge of all applicable underwriting guidelines by completing all underwriter training programs and learning business unit and industry policy and/or guidelinesSkills, Education and Experience:B.S./BA degree in Accounting, Finance, Economics, Real Estate or other related fields preferredMinimum of 3-5 years of underwriting experience with HUD MAP and/or LEAN Underwriter certification requiredMAP and/or LEAN certified authorized to submit FHA applications for all eligible programsExceptional analytical skills with demonstrated ability to analyze data from various sources with accuracy and efficiencyStrong written and oral communication skills required, and an ability to explain complex financial concepts to a non-technical audienceDemonstrated ability to work independently and to follow through on details to completionExperience in a fast paced and changing environment - ability to prioritize and manage multiple projects with competing deadlines - having the ability to say, "no"Excellent time management skillsHighly self-motivated and able to manage an Underwriting TeamAbility to maintain professional internal and external relationships that meet company valuesStrong PC skills and solid experience in standard Microsoft Office products particularly Excel are essentialAbility to use basic office equipment frequently (printers, copiers, scanners, handheld device)The Underwriter is expected to travel nationally on a regular basis to fulfill the requirements of this job, including but not limited to; project related meetings, site inspections and industry conferencesWorking Conditions: Normal working conditions with the absence of disagreeable elements Note: The statements herein are intended to describe the general nature and level of work being performed by employees, and are not to be construed as an exhaustive list of responsibilities, duties, and skills required of personnel so classified. Newmark Knight Frank is an Equal Opportunity/Affirmative Action employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex including sexual orientation and gender identity, national origin, disability, protected Veteran Status, or any other characteristic protected by applicable federal, state, or local law.