Underwriter III, Specialty Loans (Condo)

Guild Mortgage•WFHME - Maine, ME

11d•Onsite

About The Position

Guild Mortgage Company is seeking an Underwriter III, Specialty Loans (Condo) to join their team. This role is responsible for underwriting specialty loans such as jumbo, renovation, FHA, VA, USDA, and new construction condominium project loans according to company, secondary market investor, and government agency standards. The Underwriter III will ensure condominium project documentation is accurate and complete, and approve or deny loan applications based on compliance with underwriting standards and risk management factors. This position is considered the subject matter expert when the Lead/Supervisor/Manager is not available.

Requirements

High School Diploma or equivalent, required
8 or more years as an underwriter preferably with three years of specialty experience such as jumbo and renovation loans.
Direct Endorsement, VA, Auto and SAR endorsements; must have current certifications for any region with state-specific requirements to underwrite loans.
Advanced condominium project underwriting experience, including review and approval of conventional, FHA, and VA condominium projects.
Expert-level knowledge of overall mortgage lending processes, including underwriting, funding, and loan processing.
Expert-level knowledge of valid documentation related to the processing consumer mortgage applications (e.g., tax returns, financial statements and records, verification of income and deposits, etc.).
Expert-level knowledge of underwriting and regulatory requirements; detailed knowledge of federal, state, and regulatory requirements/guidelines related to consumer mortgage lending and internal processes and controls.
Ability to think critically, including the ability to evaluate facts and data to draw conclusions, and determine the downstream impact of decisions and associated risks.
Ability to prioritize multiple tasks in a deadline-driven environment; strong sense of urgency and responsiveness.
Expert knowledge of Fannie Mae and Freddie Mac condominium project eligibility requirements.
Advanced knowledge of FHA condominium approval requirements, including HRAP and DELRAP review processes.
Knowledge of VA condominium project approval requirements and submission processes.
Experience reviewing homeowners association (HOA) financial statements, reserve studies, governing documents, insurance coverage, special assessments, and litigation disclosures.
Ability to evaluate and document condominium project-level risks, including financial stability, reserve adequacy, insurance sufficiency, ownership concentration, and marketability.
Excellent verbal and written communication skills required.
Highly organized and detail-oriented; ability to work in a fast-paced, metrics-driven environment required.
Proficiency in Microsoft Office Suite, Word, Excel, Wiki, collaborative cloud-based programs, and third-party software applications required.
Commitment to company values.
Customer Service - Proactive attention to each person
Integrity - Do and say what's right
Respect - Treat others with dignity
Collaboration - Listen and work together
Learning - Seek knowledge and strive for improvement
Excellence – Deliver the unexpected
Work is primarily sedentary; mobility in an office setting.
Ability to operate standard office equipment and keyboards.
Ability to accurately interpret sounds and associated meanings at a volume consistent with interpersonal conversation.
Regularly required to accurately perceive, distinguish and interpret information received visually and through audio; e.g., words, numbers and other data broadcasted aloud/viewed on a screen, as well as print and other media.
Office environment – moderate noise, no substantial exposure to adverse environmental conditions.
Learn new tasks, remember processes, maintain focus, complete tasks independently, and make timely decisions in the context of a workflow.
This role requires effective adaptation to workplace stressors, including customer service complaints, security responsibilities, and competing priorities.
Must be able to adhere to process protocol.
Must be able to apply established protocols in a timely manner.
Work is primarily performed during the business week, Monday - Friday.

Nice To Haves

College courses/technical training related to Business, Finance/Accounting, Legal, or related field is preferred
Experience underwriting new construction condominium developments, condominium conversions, and mixed-use projects preferred.

Responsibilities

Review and evaluate loan documents to ensure accuracy, completeness, and compliance with company standards, federal and agency standards and guidelines, as well as any applicable state-specific and or local regulations, ordinances, etc.
Analyze customer’s loan-to-value ratio, debt-to-income ratio, credit report, application, income and assets, source(s) of down payment funds, and supporting documentation to identify potential fraud or misrepresentation.
Review appraisals to ensure that loans meet secondary market, investor, and company standards.
Work with Loan Processors and Loan Officers on collecting information and documentation necessary to finalize incomplete loan packages.
Determine if additional documentation or information would aid loan decision; request additional documentation or information accordingly.
Perform condominium project eligibility reviews for conventional, FHA, and VA financing programs, including complex project types such as new construction, conversions, and mixed-use developments.
Analyze condominium project legal, financial, insurance, occupancy, reserve, and operational documentation to determine project eligibility in accordance with agency and investor guidelines.
Prepare and submit FHA and VA condominium project approval documentation and coordinate with applicable government agencies regarding approval requirements and project status.
Serve as a resource to loan origination staff, developers, and other stakeholders regarding condominium project approval requirements, documentation deficiencies, and project eligibility determinations.
Provide options and recommendations to borrowers regarding suitable loan programs.
Stay abreast of current regulations and industry trends that affect compliance and decision-making.
Verify that system input is accurate and that company systems match Automated Underwriting System (AUS).
Use expertise to answer questions and resolve escalated issues from junior-level teammates.
Perform other duties as assigned.