Job Abstract

Salary Range:

(Depending on knowledge, skills, abilities and location.  Certain level jobs may be eligible for bonus, commission, and/or equity awards.)

Posting Date:

This job will be open and accepting applications for a minimum of three days from the date it was posted.

Benefits* worth writing home about:

• Medical, dental, and vision coverage for employees and their families
• Life, disability and family Leave
• 401(k) and Roth 401(k) with employer match
• Wellness program, employee assistance program, “Commute Trip Reduction” (CTR) and various employee discounts 
• Generous vacation, sick leave, 11 paid holidays, and 16 hours of paid leave every year for community service work
• Free employee checking account and employee home loan discounts

*For eligible employees averaging 20 or more hours per week.

EO/AA Employer including Vets and Disabled.

Qualified applicants with arrest and conviction records will be considered in accordance with legal requirements.

If you are a California resident, you may be entitled to certain rights regarding your personal information, which is information that identifies, relates to, or could reasonably be linked with a particular California resident or household. Additional information about our data collection practices and location specific notices is available on our privacy policy.

Job Description Summary:

Job Details:

ESSENTIAL FUNCTIONS:

• Create a skilled and motivated processing and underwriting team by hiring, developing, training, leading and coaching employees manage risk and to provide a high level of customer service.  Coordinate and supervise daily workflow of underwriting and processing staff. 
• Responsible for strategic planning for the underwriting and processing area of HomeStreet’s Fannie Mae group to enable the department to meet production and profitability goals.  Direct formulation of underwriting and processing group goals and objectives at least annually and coordinate through out the year.  Direct continuous process evaluation and reform, as well as ongoing streamlining and efficiency efforts.
• Work cooperatively with Fannie Mae Lending Director and Relationship Managers in structuring transactions to meet customer needs while complying with Fannie Mae’s guideline as well as HomeStreet’s risk management requirements.  Manage requests to “win” deals to client satisfaction.
• Review preliminary Fannie Mae DUS loan requests with Relationship Manager, Lending Director, and Fannie Mae’s National Account Managers, as needed.  This includes, but is not limited to overall loan structure, loan sizing, property condition, borrower qualifications, and pricing and waiver requirements.
• Review and approve all loan preflights, loan applications, and pricing and waiver requests.
• Assign team for each loan and assist them in tracking loan progress in Salesforce and DUS Gateway
• Review loan underwriting narratives for Fannie Mae DUS loans including loan assumptions. Identify, assess, and evaluate elements of risk.   Must approve all Fannie Mae DUS loan narratives.
• Review and analyze all third-party items including appraisals, environmental and engineering reports and any related supplemental information for adequacy, completeness and compliance with lending requirements when need arises.   Determine whether additional or more detailed documentation is necessary to resolve any issues that are raised.  Review and approve all third-party relationships at least annually.
• Review property economic, market, feasibility, financial and risk analyses.  Review Loan to Value Ratio,     property NOI (including Baseline and Underwritten for Fannie Mae loans) and Debt Service Coverage Ratio.  Determine appropriate loan amount.
• Review borrower credit analysis and documentation.
• Conduct on-site property inspections to assess physical condition of loan collateral, competitiveness, and market feasibility, when need arises.

• Coordinate with HomeStreet team in regard to origination, processing, approval, closing and servicing of loans.  May present recommendations to Company’s loan committee.
• Provide performance evaluations and develop training plans for team members. 
• Coordinate Department policy and procedure revisions and updates.  Develop procedures for Underwriting, Processing and Loan Policy.
• Act as company representative at various applicable professional conferences and meetings.
• Serve as liaison with Fannie Mae, Internal Audit Department, Loan Review and Credit Administration.
• Ensure that all business production efforts are in accordance with stated company policies and appropriate regulations.

REQUIREMENTS:

• Bachelor’s degree required or advanced degree preferred with relevant course work or equivalent.
• Minimum seven years income property mortgage underwriting experience including appraisal and credit review.
• Three years management experience in lending environment demonstrating increasing levels of responsibility, effective hiring, coaching and team development.
• Strong business analysis and presentation skills including strategic planning, evaluating business opportunity, risk management and profitability.
• Demonstrated high level of personal integrity, judgment, maturity, long-term commitment, customer service and respect for others.
• High degree of initiative, dependability and ability to work with little supervision.
• Ability to work on multiple concurrent projects.
• Work cooperatively with and maintain effective communication and working relationships with Senior Management and Department Management team.
• Excellent communication skills - written, verbal, personal contact, and attention to detail.
• Must be a self-starter, dependable, able to work within deadlines and under extreme pressure.
• Must be able to maintain composure in very volatile and stressful situations dealing with customers and staff.
• Possess good judgment, present a professional image, ability to accept responsibility and handle confidential information.
• Able to work as part of a team as well as independently and with people of diverse backgrounds.
• Good at research, problem solving, and decision making.
• Knowledge of MS Office (Word and Excel).
• Able to quickly compose clear and distinct letters and memoranda.
• Knowledge of income property finance mathematics.
• Ability to think critically and independently.
• Knowledge of local multi-family and commercial real estate, including typical income and expense levels.  Demonstrated ability to assess the physical condition of real estate collateral, its marketability and its management, along with associated risk.

• Ability to accept and facilitate change, whether indicated by corporate needs, market, or regulatory requirement.
• Valid Washington state driver's license, vehicle and liability insurance.
• Willing to assume additional duties/projects as they arise.

Mental and Physical Considerations:

• Able to operate a Personal Computer and view information on a monitor.
• Must be able to sit for many hours each day.
• Must be able to communicate via telephone and possess dexterity to include filing documents, reaching and bending.
• May be required to stand for extended periods of time.
• Ability to lift or carry up to 10 pounds.
• Ability to speak and understand English and express ideas and have difficult conversation in person and over the telephone.
• Ability to listen and comprehend speech.
• Ability to problem solve, make decisions, interpret data and information, read, write and organize information in an orderly manner.
• Willing and able to travel occasionally as needed.

Work Environment:

• Normal business office environment.
• Ability to work in artificial light for extended periods of time.

Area: