Underwriter

Mgic Investment Corp New York , NY 10007

Posted 4 weeks ago

Why work at MGIC?

Are you someone who wants to play a critical role in our company's success? Do you enjoy solving puzzles and finding a better way to get things done? Are you someone who likes to Take The Lead and make an impact? If so, then imagine yourself at MGIC. At MGIC we are a team of dedicated professionals on a fearless mission. A team that fosters a culture of career development and continuous learning opportunities to help you rise to new heights. We are passionate about providing outstanding customer service and making a difference in our community. #WeAreMGIC

How will you make an impact?

  • Responsible for analyzing and rendering credit decisions on mortgage loan applications consistent with internal policies and investor guidelines as established by Fannie and Freddie

  • Reviews and analyzes all required documentation and determines whether additional verification or analysis is needed in cases where information may be questionable

  • Makes decisions to accept, suspend, or decline loans or MI coverage. May submit loans for second review before notifying appropriate parties of resulting loan decisions

  • Maintains positive business relationships with customer management and underwriting staffs. Follows customer and/or internal procedural guidelines regarding any special handling or notification during the underwriting process

  • May make joint calls with sales staff to develop new business, and maintain existing customer relationships as identified by an account manager

  • Nature of the work requires turn times of 4 hours to 48 hours up to 50% of the time

Do you have what it takes?

  • Completion of an Associate's Degree or equivalent level of coursework. Additional experience (2 years) beyond the minimum below may be substituted for education beyond high school

  • Minimum of 3 years recent conventional, frontline underwriting experience

  • Current knowledge of Fannie/Freddie guidelines, standards, and practices in regard to tax return analysis and appraisal review

  • Knowledge of residential mortgage loan documentation and terminology

  • Knowledge of mortgage lending, loan underwriting processes and agency underwriting guidelines

  • Experience using current automated underwriting systems

  • Demonstrated ability to balance customer, investor, and MGIC's requirements

  • Ability to produce a high volume of work within tight deadlines

Enjoy these benefits from day one:

  • Competitive Salary & pay-for-performance bonus

  • Financial Benefits (401k with company match, pension plan, profit sharing, HSA, wellness rewards program)

  • On-site Fitness Center and classes (corporate office)

  • Paid-time off and paid company holidays

  • Business casual dress

For additional information about MGIC and to apply, please visit our website at www.mgic.com/careers.


icon no score

See how you match
to the job

Find your dream job anywhere
with the LiveCareer app.
Mobile App Icon
Download the
LiveCareer app and find
your dream job anywhere
App Store Icon Google Play Icon
lc_ad

Boost your job search productivity with our
free Chrome Extension!

lc_apply_tool GET EXTENSION

Similar Jobs

Want to see jobs matched to your resume? Upload One Now! Remove
Underwriter

Capital One

Posted 4 days ago

VIEW JOBS 3/31/2020 12:00:00 AM 2020-06-29T00:00 NYC 299 Park Avenue (22957), United States of America, New York, New York At Capital One, we're building a leading information-based technology company. Still founder-led by Chairman and Chief Executive Officer Richard Fairbank, Capital One is on a mission to help our customers succeed by bringing ingenuity, simplicity, and humanity to banking. We measure our efforts by the success our customers enjoy and the advocacy they exhibit. We are succeeding because they are succeeding. Guided by our shared values, we thrive in an environment where collaboration and openness are valued. We believe that innovation is powered by perspective and that teamwork and respect for each other lead to superior results. We elevate each other and obsess about doing the right thing. Our associates serve with humility and a deep respect for their responsibility in helping our customers achieve their goals and realize their dreams. Together, we are on a quest to change banking for good. Underwriter The Underwriter will independently and under the direction of management or designee, is responsible for evaluating and underwriting the origination of new credit and investment products offered by the Community Finance group. Additional scope of responsibilities includes performing due diligence and gathering information necessary to make sound credit decisions and take a leadership role in managing the deal from origination through closing. While serving in this role, it is expected that you will gain experience in all facets of departmental operations. * Understand and employ all lending, investing and regulatory/compliance policies and procedures of the bank and the department. * Under the direction of management or designee, assist in product and transaction structure to meet client objectives within appropriate credit and investment guidelines. * Communicate information requirements to clients and other deal constituents. Serve as the central contact for provision of the requested data. Serve as the primary facilitator between the production staff in communications, discussions and negotiations with deal team and bank designated approval staff. * Coordinate required processes outside of the department scope, such as appraisals, environmental, construction risk and counterparty risk review, to ensure all issues are identified and appropriately approved. * Identify, obtain and review all due diligence documentation required for both credit approval as well as compliance considerations; maintain the underwriting due diligence checklist; populate the electronic credit and/or investment file for each transaction. * Complete a detailed review and analysis of the character, experience, ability and financial strength of the sponsor(s), contractor(s), guarantor(s) as well as other parties involved with the transaction. * Complete a detailed review and analysis of third-party documents as well as independent review of general market economic performance, economic factors, in-person review of the site and comparable properties, and other analyses which result in supportable estimates on achievable rents, absorption and vacancy. * Complete a supportable cash flow operating pro-forma based on the analysis of the real estate fundamentals, as well as a variety of other sources. * Complete a detailed analysis of the capital budget which includes reviewing all sources, uses, funds flow timing, restrictions on funding sources, etc. * Assist senior staff or independently prepare and present a written approval request that, along with financial models and exhibits, clearly and concisely outline the details of the transaction, the underwriter's recommendation and the basis of the recommendation. The request will identify transaction strengths and mitigate weaknesses and document bank compliance with internal and regulatory policies and procedures. * Identify and elevate issues that warrant additional investigation or may cause a delay in approval or closing. * Partner with production staff, Loan Administration, outside counsel and deal constituents in the negotiation and review of all loan and equity documentation to verify timing, structure and transaction terms comport with bank underwriting and approval and bank standards. * Liaise with Loan and Equity Administration and Portfolio Management representatives to ensure an efficient closing, initial funding and transfer of the transaction to the Portfolio Manager. Basic Qualifications * Bachelor's degree * At least 3 years in commercial real estate banking, or affordable housing Preferred Qualifications * Bachelor's degree, in accounting, finance, real estate or other business discipline. * 3+ years of experience related to affordable housing including underwriting and structuring loans and equity investments for multifamily housing funded with Low Income Housing Tax Credits (LIHTC). Ability to successfully operate Microsoft Office and Google Suite softwares. * Experience with financial modeling * Ability to write in a clear and concise manner to convey complex information. * Strong interpersonal skills including the ability to communicate effectively. * Strong analytical and problem-solving skills with an attention to detail and accuracy. * Extensive credit and financial analysis experience. At this time, Capital One will not sponsor a new applicant for employment authorization for this position. Capital One New York NY

Underwriter

Mgic Investment Corp