Renovation Underwriter

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Full Time Clerical Albany, Latham, NY, US

Salary Range: $85,000.00 To $ Annually

Renovation Underwriter Job Description

Full Time | Hybrid | NY, FL

Salary Range: $85,000 – $115,000 annual

Pay Transparency:
Compensation may vary outside of this range depending on a number of factors, including a candidate’s qualifications, skills, competencies and experience, and location. Base pay is one part of the total package that is provided to compensate and recognize employees for their work.

About Premium Mortgage

Since 1999, Premium Mortgage Corporation has been providing residential mortgages across New York State and beyond, offering competitive interest rates and a wide variety of loan programs to fit the needs of home buyers. As a mortgage lender, our number one goal is for every customer to feel comfortable, informed, and well taken care of.

After all, a mortgage isn’t just a transaction to us. It's a partnership for life.

We accomplish this level of customer satisfaction by employing top tier talent—all of whom take part in our employee engagement program called the
Premium Experience
. This program allows our team members to live out our core values, while supporting them with opportunities for professional and personal growth. With hundreds of team members living out the Premium Experience every day, they are the driving force in making Premium Mortgage Corporation a leading lender in the communities we serve.

All positions with Premium Mortgage operate on a Hybrid work schedule unless an exception has been granted by Upper Management.

Why us?

Benefits offered by Premium Mortgage:

• Insurance:
  Medical, Dental, Vision, Company Paid Life Insurance
• Additional Perks:
  Employee Referral Fee, HSA Employer Contribution, Employee Mortgage Loans

Role & Responsibilities

The Renovation Underwriter is responsible for evaluating risk and rendering credit decisions on renovation loan applications in accordance with agency guidelines and company policy. This role requires in-depth knowledge of standard mortgage underwriting principles as well as specialized expertise in renovation lending programs across FHA, Fannie Mae, Freddie Mac, VA, and SONYMA, including the unique collateral, contractor, and project feasibility considerations inherent to renovation transactions.

• Completes full credit underwrite on files submitted to underwriting for approval within posted turn times
• Reviews conditions on files within posted turn times and communicates decisions clearly to all internal parties
• Maintains a unified voice with fellow underwriters on underwriting guidance and escalates file issues not covered by existing guidelines to the Head of Renovation for direction
• Provides feedback on loan quality and mentors processing staff and loan officers on file preparation and guideline compliance
• Works jointly with colleagues to respond to quality concerns, including QC, PETR, NOR, and audit or clarification requests from managers or other departments
• Stays current on changing rules and regulations pertaining to Conventional, Government-insured mortgages, and all renovation products offered
• Meets required KPI standards for the position
• Participate in training and development as needed
• Underwrites renovation loan files in accordance with FHA 203(k), Fannie Mae Home Style, Freddie Mac CHOICE Renovation, VA renovation, and SONYMA RemodelNY guidelines
• Evaluates project feasibility, including scope of work, contractor qualifications, construction bids and consultant reports to assess risk and ensure compliance with program requirements
• Reviews and approves contractor…