Description
DE and 203K Underwriters
Job Description
We are seeking DE and 203K UNDERWRITERS
WE ARE GROWING and keep picking up new Branchs!
Our pipelines are huge and are staff is growing!
WOW!
COLUMBIA MD!
If accurate financial analyses, critical thinking, and ingenuity are part of your default way of operating, you will feel right at home with our fast-growing organization that is revolutionizing the retail mortgage space! While many in this market are closing their doors, we're poised to continue our upward trajectory as we leverage a solid national sales infrastructure, talented senior leadership, and strong capital backing. And high-impact players will play a key role in our success story while taking advantage of the upward draft of opportunity.
Youll flex your analytical muscle to underwrite 60+ quality loans per month, exploring creative, outside-the-box solutions to structure the deal, as you consistently communicate financially sound decisions and get the loans approved in a timely manner. A significant portion of our business (up to 60%) is focused on government loans and to be a good fit for this opportunity you will bring solid expertise in managing FHA/VA/Govt. loans.
The ideal candidate will bring a progressive track record of success in underwriting both conventional and government loans and possess the highly coveted DE, SAR and LAPP certifications. Of course, to thrive in our high velocity environment you will also bring loads of self-initiative along with an infectiously high energy, can-do approach to navigate large and sometimes complex loans through the required guidelines to funding. You will also showcase flexibility and a team player approach to integrate well with our long-tenured team as we believe the winners edge is in the right blend of both attitude and aptitude.
Established in 2006, Prospect Mortgage specializes in acquiring midsized residential lenders, providing them with capital, cost-efficiencies, and increased resources while maintaining a decentralized, entrepreneurial business model. We've created a team-oriented, energetic, and upbeat culture with a focus on success. Prospect is backed by Sterling Partners, a multibillion-dollar private equity fund based in Chicago and Baltimore.
What Else You'll Bring to the Table
In addition to the qualifications detailed above, you'll need:
3-6 years of hands-on underwriting experience in both conventional and government loans
Analytical prowess to evaluate financial statements, tax returns, cash flow and credit analysis (including analysis of applicable ratios, such as debt and loan-to-value)
Solid knowledge of credit policies & procedures
Excellent communication and organization skills
Ability to multi-task and operate in a high-volume, fast-paced environment
Computer proficiency in a Microsoft Office environment
Bachelors degree in related discipline (Accounting/Finance) is a plus
What's in It for You
High impact within a fresh business model we are positioned for success and had one of our busiest months in spite of a flatlining economy. Being a small, young company, you will get to "own" everything that has to do to with underwriting loans. In fact, we encourage you to introduce your ideas for innovation and improvement to further optimize our loan environment.
Growth opportunity -- our dynamic work environment positions learning in the forefront and there will be ample opportunities to expand your role; youll also enhance your competencies as you gain exposure to an evolving spectrum of government and conventional loans.
Personal autonomy -- you'll be empowered to take ownership of your objectives and to achieve your goals on your own initiative in a flat, results-oriented environment.
Optimistic work environment -- we've become one of the largest independent retail mortgage companies in the country, and we take the "independent" part seriously. Instead of waiting on the sidelines while the industry is resuscitated, we're implementing proactive strategies today that we believe will position us to command strong market share within a couple of years. Here you'll find people committed to succeeding and growing, and having fun in the process.
Excellent compensation -- in addition to a competitive hourly (and overtime pay as necessary), we offer a comprehensive benefits package.
More About Your Role
If you're a good fit for this position, you already know most of what this job entails. However, to be sure we're providing a complete picture, here are some details.
This is an individual contributor role reporting directly to the Regional Underwriting Manager and join a team of Underwriters at Columbia, MD office. As you come on board, youll be trained on our proprietary systems and processes, but after a short breaking-in period well expect you to function independently, meeting our turn times and expectations as you make sound decisions with minimal mentoring/coaching.
In general, your daily responsibilities include:
Reviewing, analyzing, and underwriting large (under $1M), unusual or complex individual consumer requests and products within company standards and guidelines
Reviewing and analyzing financial statements, credit reports and applicable ratios
Preparing credit analysis and providing opinions and recommendations regarding proposed credit and potential risks; explaining rationale behind credit decisions
Ensuring all due diligence and background evaluation is complete and thorough, including adherence to all company and institutional guidelines before loan is approved
Preparing formal reports for reviews
Implementing fraud detection techniques; performing compliance reviews
Assisting with re-negotiations of loans based on lending guidelines
Keys to Success
Your success in this role will largely derive from your analytical abilities as you distill key findings from complex analyses and propose insightful solutions to structure the deal and get the loan done in a timely manner. But far from crunching numbers in your Ivory Tower, you will showcase the interpersonal savvy and enthusiasm to collaborate with diverse stakeholders--including processors and sales people--to get the job done right. Other facets of success are to:
Assume ownership of your goals and activities, managing information and action steps with a minimum of supervision.
Emanate discernible energy and be able to energize others to deliver on multiple, competing priorities; youll model a strong adherence to timelines and make everyone aware that they have to dance to the same rhythm.
Demonstrate a strategic approach to problem solving, continually evaluating our loan processes and systems as you look for new and better ways to help us achieve our growth objectives.
Showcase flexibility in handling multiple files and processes while multitasking, prioritizing and easily adjusting to the evolving needs of the department ( this includes a willingness to work evenings/weekends).
If this sounds like the right mix of challenge and opportunity for you, and you meet the minimum qualifications, we want to hear from you!
Who We Are
When others see nothing but a downturn in the mortgage industry, Prospect sees opportunity. We understand how to grow for long-term results. We recognize individual companies that have the talent and tools for success. With fresh capital, cost-efficient scale, and decades of mortgage know-how, we are building a network of excellence coast-to-coast that combines the perfect blend of centralized strength and localized entrepreneurialism and leadership.
With about 1500 employees, Prospect Mortgage is one of the larger companies in the portfolio of Sterling Partners, a private equity firm with a history of generating extraordinary returns for investors. With nearly $4 billion of capital under management, Sterling's investment strategy is to invest from $5 million to more than $150 million of equity in each company with which we partner. They invest in industries with positive, long-term trends and bring their experience, expertise, and network in driving value to portfolio companies.
www.myprospectmtg.com
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