FHA Asset Management – Transactions Underwriter

Purpose and Job Summary

The Transaction Underwriting Associate, FHA/USDA Transactions – Agency Risk (FHA Asset Management) will underwrite and process FHA/USDA Healthcare and Multifamily post-closing transactions and requests, which include loan assumptions (Full TPA/CHOP), transfers of interest (Modified TPA/CHOP), and changes of facility operator. The position coordinates and works with bankers, associates, external counsel, government agency personnel, and any other third parties to carry out post-closing transactions and requests.

The candidate’s primary responsibilities are to
1) deliver outstanding internal and external customer service regarding post-closing transactions and requests;
2) underwrite credit submissions and recommendations for Management approval;
3) manage the credit approval process and handoff to Asset Management in a timely manner; and
4) monitor compliance with loan terms and government agency loan program guidelines. This position reports to the Associate Director of FHA/USDA Transactions – Agency Risk.

• Facilitates and diligently documents initiation, progress, and completion of post-closing transactions such as loan assumptions (Full TPA or CHOP), transfers of interest (Modified TPA or CHOP), and changes of facility operator.
• Maintains loan servicing files with detailed documentation in an organized manner.
• Processes and documents any change in borrower, operator, or management agent contact information.
• Ensure that all job functions are executed in compliance with investor requirements and internal policies and procedures.
• Provide excellent customer service by timely and effectively communicating between all internal and external transaction parties involved and handle to conclusion.
• Underwrite transactions related to loans collateralized by various asset types.
• Collect, review, and analyze property and sponsor financial statements per agency guidelines.
• Review all due diligence material provided for a transaction. Provide prompt and accurate analysis, and ensure programmatic requirements are met for each transaction. Candidate will ensure any deviation is clearly documented and approved by all required parties.
• Critically review, evaluate, and approve any required third party reports to assess alignment with program requirements.
• Provide timely portfolio status updates to management team.
• Actively participate in updating and improving department processes and procedures.
• Assess physical condition of property collateral by reviewing property inspections and third-party reports.
• Prepare and present final credit packages addressing the creditworthiness of the sponsorship and the real estate for senior management review.
• Comply with agency credit package submission guidelines and time frames as described in respective servicing guides.
• Clearly manage and communicate underwriting process, approval and closing timelines among all internal and external transaction parties.
• Demonstrates strong working knowledge of all deals and project assignments.
• As needed, follow up with closing coordinator and legal counsel to collect any missing loan documents, and disseminate pertinent insurance, tax, and other information from closing.
• Set up appropriate follow-up systems to manage ongoing compliance with loan document covenants and ensure proper file set-up.
• Ensure all loan related system changes per specific loan documentation and/or Ginnie Mae requirements are completed.
• Ensure final underwriting files and approvals are documented accurately and completely and are compliant with Lument’s loan file policy.
• Cross-train in all areas of department to gain full understanding of all aspects of departmental responsibilities.
• Provide internal transparency in approval process by ensuring task management system and pipeline reports are updated and following up with transaction party members in an accurate and timely manner.
• Participate and present transactions in credit meetings for discussion.
• Works professionally and harmoniously with team and coworkersli>
• Other projects and duties as assigned.

• Bachelor’s degree in business administration,…