Collateral Underwriter

Job Description

Job Description

Description:

Responsibilities

• Provide comprehensive residential appraisal desk reviews on 1-4 unit residential properties on a national level, determining appraised value supportability and quality control
• Meet minimum daily production requirements based on department needs
• Assess complex and non-standard property types including investment properties, manufactured homes, and unique characteristics relevant to NQM and DSCR loans
• Analyze revisions to ensure valuation reports is satisfactory and minimize risk
• Perform analysis and reconciliation of complex appraisal reports; effectively communicate results with attention to detail for identifying errors and omissions
• Leverage GSE collateral analysis and other external tools during appraisal review with respect to evaluating appraisal quality
• Evaluate the appropriateness of comparable sales selection, market condition adjustments, and final value conclusions
• Evaluate the appropriateness of market rent comparables, including rental grid analysis and market rent support for income-producing and investment properties
• Enter appraisal final value disposition and all applicable appraisal review data in LOS
• Provide clear and concise appraisal review conditions within the LOS as applicable
• Ensure all appraisal reports conform to USPAP standards and comply with applicable regulatory requirements including Fannie Mae, Freddie Mac, HUD/FHA, VA, NonQM, DSCR and all non-agency lender/investor guidelines, policies, and procedures
• Ensure adherence to Appraiser Independence Requirements (AIR) and regulatory guidelines on every file
• Provide timely and effective written communication with all applicable loan personnel
• Provide technical assistance and support to internal lender staff; respond timely to all appraisal-related questions and concerns
• Maintain up-to-date knowledge of agency guideline changes, HUD/FHA handbook updates, VA appraisal protocol changes, and investor requirements for non-conforming programs
• Perform other duties as assigned by the Chief Staff Appraiser

Knowledge and Skills Required

• Minimum 3 years of experience in residential appraisal review at a mortgage lender, bank, or related financial institution
• Demonstrated experience reviewing Conventional (FNMA/FHLMC), FHA, and VA appraisal reports
• Direct experience with Non-QM and/or DSCR appraisal review processes required
• In-depth knowledge of USPAP standards and Appraiser Independence Requirements (AIR)
• Strong understanding of Fannie Mae Selling Guide, Freddie Mac Seller/Servicer Guide, HUD 4000.1, and VA Lender Handbook appraisal chapters
• Proficiency with appraisal software platforms and LOS platforms
• Ability to work independently in a remote or hybrid environment and meet strict deadlines
• Strong written and verbal communication skills, especially when resolving complex valuation disputes

Credentials and Experience Required

• SRA or MAI designation (Appraisal Institute)
• Experience with Collateral Underwriter (CU) and LCA tools
• Background in appraisal field work (active or former licensee)
• Familiarity with investment property income approach analysis
• Experience with appraisal management company (AMC) operations
• Knowledge of 1004MC, 1073, 1025, and 2055 appraisal form types
• Working knowledge of UAD 3.6 appraisal changes preferred

Physical Demands*

While performing the duties of this job, employee is regularly required to:

• Sit for extended periods of time
• Move about the office (stand and walk)
• Reach with arms and grasp with hands
• Perform tasks using a computer and peripherals (keyboard, mouse, monitor)
• Hear, talk, read, and write

Employee is occasionally required to:

• Lift up to 25 pounds
• Vision requirements include:
• Close vision (computer monitor, paperwork)

*To perform the duties of this job successfully, an individual must be able to perform responsibilities and each essential duty satisfactorily. The requirements listed above are representative of the knowledge, skill, and abilities required in this position. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Job Type: Full-Time, Remote

What We Provide:

• Benefits: Medical, Dental, Vision, Life
• 401k
• Vacation/Sick Days
• Paid Holidays

Who We Are:

American Financial Network, Inc. “AFN” is a unique force in the mortgage market. We are one of the nation’s largest privately held mortgage companies with the resources necessary to compete on a national level with the largest publicly held banks. AFN maintains speed to decision, responsive communication and flexibility through its private ownership and flat organizational structure. We are a team of dynamic, visionary and opportunistic professionals that thrive on the utilization of teamwork and technology to outperform our competition. We are driven by a vision of being a market leader through creating the ultimate standard in customer service and being consistently better by always seeking new ways to improve.

We’re Proud of our Accomplishments!

• Top 100 Mortgage Companies in America in 2020 by Mortgage Executive Magazine
• 50 Best Companies to Work for by Mortgage Executive Magazine
• Top Mortgage Employer by National Mortgage Professional Magazine
• Top Mortgage Lenders by Scotsman Guide
• Most Loved Employers by National Mortgage Professional Magazine
• Honorable Culture of Well-Being Award by Cigna
• merica’s Fastest Growing Companies by Inc 5000
• Most Powerful Women in Mortgage and Women of Influence awarded to our EVP of Operations by National Mortgage Professional Magazine & Housing Wire Magazine

American Financial Network, Inc. (“AFN”), NMLS #237341, is an Equal Opportunity Employer.