Senior Associate, Underwriting - FHA Multifamily

Purpose and Job Summary:

LUMENT provides comprehensive capital solutions for multifamily, affordable, seniors and health care real estate through its affiliated companies. LUMENT provides its clients, which include both tax-exempt and for-profit organizations, private equity backed firms, REITs, investors, and lenders, with a full suite of financing and strategic solutions. This includes mortgage banking, a variety of direct balance sheet lending options, private equity, investment banking and mergers and acquisitions.

To assist and support the FHA loan underwriters with the information gathering and processing of FHA eligible mortgage loan applications. Processors, under the direct supervision of the Underwriters, will work closely with other members of origination, underwriting, processing and closing staff and have extensive interaction with clients and third-party vendors to process loan applications to finance new construction or refinance of multifamily housing.

Essential Duties and Responsibilities:

Develop a thorough understanding of the “flow” and programmatic requirements of Lument’s FHA loan origination, underwriting and closing process so that the support provided to Underwriters complement the overall processing effort and moves the loans through to Loan Committee and HUD application submission in a timely manner.

Become fully versed on all applicable FHA and Lument policies and procedures by reading and studying Lument’s FHA Policies and Procedures Handbook, the FHA MAP Guide, FHA Handbooks, Mortgagee Notices and Lument’s Processing Guide.

Serve as Lument’s primary source and contact for due diligence information necessary to complete FHA loan submissions. This involves gathering, reviewing and organizing required application exhibits and subsequently compiling appropriate pre-applications and application loan packages that are delivered to HUD.

A thorough understanding of the due diligence requirements and the ability to determine when and which FHA forms are applicable for an application is required. This includes managing and keeping current the transaction checklists. The Processor serves as the initial point of review for the application due diligence (including the FHA forms) to ensure the documentations accuracy and completeness.

Responsible for assuring the correct organization, accuracy and completeness of the FHA underwriting files maintained by Lument in both electronic and hard copy formats.

Assist Underwriters in engaging/tracking/paying required third party review contractors.

Collect/record/distribute processing retainers/3rd party funds and maintain project specific expense reports.

Keep Originators and Underwriters informed of progress and potential problems on a proactive basis.

Provide application material to lender counsel and loan closer, and assist on satisfying Firm Commitment Special Conditions, as appropriate.

Maintain accurate database/reporting systems, as assigned.

Work professionally and harmoniously with team and coworkers.

Other projects and duties as assigned.

Travel Requirements - 0.0%.

Education, Skills and Experience:

Bachelor’s degree in Finance, Accounting, Real Estate, or Business Administration preferred. Equivalent amount of relevant professional experience and education may be considered.

Experience with FHA Multifamily loan programs preferred.

Proficiency in Microsoft Office software.

Excellent organizational, communication, presentation, and interpersonal skills.

Ability to plan, organize, and prioritize assignments, and to meet critical and established deadlines; Ability to manage multiple assignments ant transactions simultaneously.

Demonstrated ability to maintain confidentiality and to use discretion in the performance of daily activities.

Professional business image and excellent command of the English language, both verbally and in writing (spelling, grammar, and punctuation).

Ability to learn quickly and demonstrated ability to work independently and as part of a high-performance team.

Flexibility and ability to work under pressure with tight deadlines and constant interruptions.

Ability to adjust priorities in a changing environment.

Preferred:

Columbus Office is preferred, but will consider remote based on circumstances and experience level.

Annual base salary gross: $96,000 - $120,000 (NY only). The base salary range represents the estimated low and high end of the Lument’s salary for this position. Actual base salaries will vary and will be based on various factors, such as candidate’s qualifications, skills, competencies and proficiency for the role. The base pay is one component of Lument’s total compensation package for employees. Other rewards and benefits include cash bonuses, long term incentives, health insurance, accident and life insurance, and retirement benefits. Please visit our Benefits page for additional information.

Life at ORIX

We are committed to the health and well-being of our employees and offer a quality, competitive benefits package that provides valuable healthcare and financial protection for our workforce, while emphasizing a healthy work/life balance.

You Time

We want you to have the time needed to recharge and manage life with our competitive vacation policy, floating personal holidays, extensive leave options, our annual observed holidays, and more.

Family Care

Every family has a different journey and ORIX USA Group is proud to offer extensive benefit programs such as: infertility coverage, adoption support, child and elder care, fully paid maternity, and generous parental leave benefits to help you and your families along the way.

Flexible Work Arrangements

ORIX associates enjoy the advantages of our hybrid working model with a 3 day in-office minimum requirement.

ORIX USA is an equal opportunity employer, providing equal employment opportunities (EEO), and is committed to diversifying its workforce. All employees and applicants for employment will receive consideration for employment without regard to race, color, religion, sex, national origin, age, disability, genetics, sexual orientation, gender identity or expression, pregnancy, protected veteran status or other status protected by law. This policy applies to all terms and conditions of employment.

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