LOAN/INSURANCE UNDERWRITER LEAD/ADVANCED, MF (045635/045472)

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DHCD has an immediate opening for two full-time highly proficient loan underwriters for multifamily rental developments. The position is located within the Multifamily Housing Unit of the Community Development Administration. The individuals in these positions are responsible for evaluating requests for financing for multifamily rental housing projects, including federal low income housing tax credit, transitional housing, shelters, rental preservation, and single room occupancy projects. This includes processing and underwriting applications; issuing reservation letters, commitments and other correspondence; closing loans; determining compliance with regulations and guidelines, and assisting in the preparation of monthly and annual reports on the status of financing programs. The types of projects reviewed will generally consist of over $5 million in total costs; 50 or more units; two or more sources of financing, moderate to high risk factors; and fixed rate or deferred loans.

Education: Possession of a Bachelor’s degree from an accredited college or university.

Experience: Three years of experience evaluating the risk involved in granting loans or insurance for multi-family housing or commercial projects.

Note: Additional experience as described above may be substituted on a year-for-year basis for the required education.

One year of experience underwriting, processing or closing loans.

The applicant must be a self-starter, able to work in a team environment, and have excellent communication skills, both oral and written.  The successful candidate will possess good time management skills.

• Experience in underwriting and financing rental income properties;
• Knowledge of federal Low-Income Housing Tax Credit or related federal investment tax credit programs;
• Experience in affordable rental housing preservation;
• Ability to prepare and present reports or recommendations clearly and concisely;
• Experience working with FHA-insured multifamily housing insurance programs; 
• Knowledge of taxable and tax-exempt bond financing programs;
• Ability to establish and maintain effective relationships with co-workers, senior level staff and developers;

Please provide sufficient information on your application to document that you meet the minimum qualifications for this recruitment. Please provide transcripts, certifications or diplomas to document educational or certification qualifications. Educational credentials from foreign countries must be evaluated by an approved education review service. This evaluation must be submitted with your application. For further information, you may call International Consultants of Delaware, Inc. (302) 737-8715 or World Education Services Inc. 1-800-932-3897 or (202) 331-2925. Successful candidates will be ranked as  Best Qualified, Better Qualified, or Qualified and placed on the employment (eligible) list for at least one year. Eligible list may be used to fill future vacancies of the same classification.

The examination will consist of a rating of your education, training, and experience related to the requirements of the position.  You may be required to complete a qualifications supplement, or the rating may be based on your application.  Therefore, it is important that you provide complete and accurate information on your application.  Report all experience and education that is related to this position.

The incumbent in this position is a member of a covered bargaining unit and will be required to pay a bi-weekly service fee to the exclusive representative of the bargaining unit.