Neighborhood Housing Services of Chicago
Underwriter
Neighborhood Housing Services of Chicago, Chicago, Illinois, United States, 60290
Join to apply for the
Underwriter
role at
Neighborhood Housing Services of Chicago
Neighborhood Housing Services of Chicago provided pay range This range is provided by Neighborhood Housing Services of Chicago. Your actual pay will be based on your skills and experience — talk with your recruiter to learn more.
Base pay range $75,000.00/yr - $75,000.00/yr
Basic Job Function Evaluate and analyze mortgage loan requests for all Conventional mortgage products, and Portfolio mortgage products to ensure they meet all investor guidelines, regulatory requirements, and Neighborhood Lending Services (NLS) policies. Approve or deny applications according to the terms of NLS's standards, procedures, regulatory underwriting guidelines, and secondary market requirements while meeting the commitment of delivering high-quality loans that satisfy our applicant's financial needs while mitigating risk.
Principal Job Duties & Responsibilities
Underwrite mortgage loans in accordance with NLS and investor guidelines and timelines.
Recommend approval, modification and/or denial of loans for potential sale to Freddie Mac, other investors or for retention in the NLS Portfolio.
Complete understanding and adherence to mortgage loan policies, investor requirements, compliance standards and lending procedures; allowing NLS to sell loans directly into secondary markets, correspondent investors, or consider for portfolio lending.
Make recommendations to NLS’s Real Estate Loan Policy and update underwriting and quality control procedures to maintain compliance with industry guidelines and standards in a timely manner.
Assist in training processors, loan officers, and other front line origination sources to maintain compliance with changes in guidelines, quality control standards, and policy/procedures.
Actively participate in our pre-close and post-close quality control process and vendor relationship.
Maintains required job skills and core professional competencies. Attends and participates in required educational programs and staff meetings.
Performs other duties as assigned.
Compensation & Benefits
$75,000 annually
Health, vision, and dental insurance
Paid time off
We also offer a team spirit, which strives for excellence in customer service.
Position Qualifications Education
Bachelor’s degree (preferred).
Experience
Minimum of 3 years of underwriting experience.
Desired Skills
Experience working with Encompass loan software preferred
Experience with automated underwriting systems such as DU/LPA
Familiar with Freddie Mac/Fannie Mae underwriting, and quality control standards
Ability to adapt to change within working responsibilities, be it internal, market, or regulatory driven
Excellent credit analysis skills and knowledge of loan products and policy
Technology: Proficiency in MS Office; database systems.
Competencies
Ability to work effectively and communicate with management, members, internal/external contacts and vendors.
Ability to perform in a multi-tasked environment while effectively prioritizing workload and maintaining a high level of service.
Performance Measures
Timely, courteous, and informative responses and follow-up on customers’ requests.
Timely and accurate execution of disclosures.
Applications underwritten according to established guidelines and timelines.
Physical Demands The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee is:
Regularly required to talk or hear.
Frequently required to stand; walk; sit; use hands to finger, handle, or feel; reach with hands and arms.
The employee may occasionally lift and/or move up to 25 pounds.
Work Environment The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. The noise level in the work environment is usually moderate and is of a typical office environment.
Remote Work Policy The Lending Department staff work on a 3/2 schedule requiring a minimum of 2 days in-office, in addition to any in-office time as necessary for important meetings, team meetings, all staff meetings, audits, site visits by funders, agency events, etc., including twice monthly in-person team meetings.
NHS’ Commitment to Diversity, Racial Equity, and Inclusion Neighborhood Housing Services of Chicago (NHS) is deeply committed to building and sustaining a diverse, equitable, and inclusive organization that reflects the communities we serve. We believe that diversity of backgrounds, perspectives, and experiences strengthens our work and advances our mission. NHS provides equal employment opportunities to all employees and applicants without regard to race, color, religion, sex, gender identity or expression, sexual orientation, national origin, age, disability, veteran status, genetic information, or any other characteristic protected by federal, state, or local law.
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Underwriter
role at
Neighborhood Housing Services of Chicago
Neighborhood Housing Services of Chicago provided pay range This range is provided by Neighborhood Housing Services of Chicago. Your actual pay will be based on your skills and experience — talk with your recruiter to learn more.
Base pay range $75,000.00/yr - $75,000.00/yr
Basic Job Function Evaluate and analyze mortgage loan requests for all Conventional mortgage products, and Portfolio mortgage products to ensure they meet all investor guidelines, regulatory requirements, and Neighborhood Lending Services (NLS) policies. Approve or deny applications according to the terms of NLS's standards, procedures, regulatory underwriting guidelines, and secondary market requirements while meeting the commitment of delivering high-quality loans that satisfy our applicant's financial needs while mitigating risk.
Principal Job Duties & Responsibilities
Underwrite mortgage loans in accordance with NLS and investor guidelines and timelines.
Recommend approval, modification and/or denial of loans for potential sale to Freddie Mac, other investors or for retention in the NLS Portfolio.
Complete understanding and adherence to mortgage loan policies, investor requirements, compliance standards and lending procedures; allowing NLS to sell loans directly into secondary markets, correspondent investors, or consider for portfolio lending.
Make recommendations to NLS’s Real Estate Loan Policy and update underwriting and quality control procedures to maintain compliance with industry guidelines and standards in a timely manner.
Assist in training processors, loan officers, and other front line origination sources to maintain compliance with changes in guidelines, quality control standards, and policy/procedures.
Actively participate in our pre-close and post-close quality control process and vendor relationship.
Maintains required job skills and core professional competencies. Attends and participates in required educational programs and staff meetings.
Performs other duties as assigned.
Compensation & Benefits
$75,000 annually
Health, vision, and dental insurance
Paid time off
We also offer a team spirit, which strives for excellence in customer service.
Position Qualifications Education
Bachelor’s degree (preferred).
Experience
Minimum of 3 years of underwriting experience.
Desired Skills
Experience working with Encompass loan software preferred
Experience with automated underwriting systems such as DU/LPA
Familiar with Freddie Mac/Fannie Mae underwriting, and quality control standards
Ability to adapt to change within working responsibilities, be it internal, market, or regulatory driven
Excellent credit analysis skills and knowledge of loan products and policy
Technology: Proficiency in MS Office; database systems.
Competencies
Ability to work effectively and communicate with management, members, internal/external contacts and vendors.
Ability to perform in a multi-tasked environment while effectively prioritizing workload and maintaining a high level of service.
Performance Measures
Timely, courteous, and informative responses and follow-up on customers’ requests.
Timely and accurate execution of disclosures.
Applications underwritten according to established guidelines and timelines.
Physical Demands The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee is:
Regularly required to talk or hear.
Frequently required to stand; walk; sit; use hands to finger, handle, or feel; reach with hands and arms.
The employee may occasionally lift and/or move up to 25 pounds.
Work Environment The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. The noise level in the work environment is usually moderate and is of a typical office environment.
Remote Work Policy The Lending Department staff work on a 3/2 schedule requiring a minimum of 2 days in-office, in addition to any in-office time as necessary for important meetings, team meetings, all staff meetings, audits, site visits by funders, agency events, etc., including twice monthly in-person team meetings.
NHS’ Commitment to Diversity, Racial Equity, and Inclusion Neighborhood Housing Services of Chicago (NHS) is deeply committed to building and sustaining a diverse, equitable, and inclusive organization that reflects the communities we serve. We believe that diversity of backgrounds, perspectives, and experiences strengthens our work and advances our mission. NHS provides equal employment opportunities to all employees and applicants without regard to race, color, religion, sex, gender identity or expression, sexual orientation, national origin, age, disability, veteran status, genetic information, or any other characteristic protected by federal, state, or local law.
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