Underwriter (CARES)

Assistant Secretary for Housing-Federal Housing Commissioner | Philadelphia, PA

Posted Date 6/29/2020

This is a public notice flyer to notify interested applicants of anticipated vacancies. Interested applicants should review the "How to Apply" section of this flyer for more information on how to be considered. This flyer will be used as positions become available. There may or may not be actual vacancies filled from this flyer.

Note: This vacancy announcement may close without notice once all vacancies are filled and may be used to fill multiple positions in the event they become available.

“This position(s) will support HUD's response efforts to COVID-19.”

This is an open-continuous announcement that is open for 10 days, with a cut-off after seven days. Applicants only need to apply one time with this announcement to be considered for each cut-off date after submission of their application. Applicants may go back in to the system to update their information if needed and be reviewed for the remaining cut-off dates.

The following are the duties of this position at the GS-12. If you are selected at a lower grade level, you will have the opportunity to learn to perform all these duties, and will receive training to help you grow in this position.

  • The incumbent 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.
  • The incumbent will 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.
  • The incumbent is 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.

You must meet the following requirements by the closing date of this announcement.

Specialized experience:For the GS-12, you must have one year of specialized experience at a level of difficulty and responsibility equivalent to the GS-11 grade level in the Federal service. Specialized experience for this position includes:

- Direct Endorsement (DE) Underwriting review of residential property appraisals; AND
- DE underwriting of borrowers credit analysis and credit worthiness; AND
- DE approval or rejection of residential mortgage applications, OR
- Applying FHA residential property and credit underwriting requirements and procedures to render a credit decision on residential mortgage loan applications.

Specialized experience: For the GS-11, you must have one year of specialized experience at a level of difficulty and responsibility equivalent to the GS-09 grade level in the Federal service. Specialized experience for this position includes:

- Reviewing residential mortgage loan applications and residential property appraisals (1-4 units); AND
- Completing credit analysis of potential borrowers to make recommendations to approve or reject residential mortgage loan applications; AND
- Applying FHA property and credit underwriting requirements and procedures to make recommendations and decisions on residential mortgage loan applications.

Ph.D. or equivalent doctoral degree
3 full years of progressively higher level graduate education leading to such a degree
LL.M., if related
You may qualify on a combination of education and experience.

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