As an Underwriter, you will:
•perform both the desk review of the property appraisal to determine the appropriate HUD estimate of value for proposed construction, existing construction, or substantial rehabilitation and, in certain circumstances, authorizes the issuance of the conditional commitment for home mortgage insurance; makes the determination of credit eligibility of the potential borrower; determines the acceptability of the mortgage for insurance and classification of risk inherent in the mortgage and authorizes the endorsement of the loan and the issuance of the mortgage insurance certificate binding the agency to the commitment through Mortgage Insurance Funds. Problem cases are referred to the field office for on-site review or technical assistance, as necessary.
•perform the desk review of the Direct Endorsement Underwriter's analysis to verify the consistency, accuracy and reliability of ratings on all elements of risk, relating to the underwriting of the appraisal and of the borrower's credit-worthiness; issues performance ratings of Direct Endorsement Underwriter's work; issues instructive and corrective commentary for the maintenance and improvement of the underwriting performance as a Direct Endorsement underwriter. Provides written evaluations and critique of the work of the Direct Endorsement Underwriters, approved inspectors, approved certified appraisers and contractors regarding the construction, repair proposals, compliance inspections, appraisals, conditional and firm commitments, and credit risk analysis, to ensure a fully supported final determination as to the acceptability of the completed work is in compliance with current statutory and regulatory requirements
•be responsible for analyzing the risk inherent in the issuance of mortgage insurance on mortgages for one-to-four family loans to determine if a property is an acceptable risk, and to determine the credit eligibility of the mortgagors and to assure compliance with statutory, regulatory and administrative requirements, the key area of responsibility is in evaluating the operation (s) of the Direct Endorsement and/or contractor performed underwriting program(s). This review is to determine problems with specific underwriters, appraisers, builders, or lenders so action can be taken to correct, or minimize the losses associated with the identified problems.