State of Maryland

SKILLED SERVICE          BARGAINING UNIT: G

A Loan/Insurance Underwriter Lead/Advanced, Multi-Family is the lead and/or advanced level of work evaluating the risk involved in granting loans or insurance for multi-family housing or commercial projects for the Maryland Department of Housing and Community Development.  Employees in this classification that perform lead functions assign, review and approve the work of and train lower-level Loan/Insurance Underwriters, Multi-Family.  Employees in this classification that perform advanced functions serve as technical subject matter experts in complex commercial or mortgage loans/insurance involving tax-exempt bond financing and multiple sources of financing, including tax credits.  Employees in this classification do not supervise lower-level Loan/Insurance Underwriters, Multi-Family but may supervise clerical and administrative support staff.

Employees in this classification receive general supervision from a Loan/Insurance Underwriter Supervisor, Multi-Family or other administrator.

Positions in this classification are evaluated by using the classification job evaluation methodology.   The use of this method involves comparing the assigned duties and responsibilities of a position to the job criteria found in the Nature of Work and Examples of Work sections of the class specification.

The Loan/Insurance Underwriter Lead/Advanced, Multi-Family is differentiated from the Loan/Insurance Underwriter II, Multi-Family in that the Loan/Insurance Underwriter Lead/Advanced, Multi-Family assigns, reviews and approves the work of and trains lower-level Loan/Insurance Underwriters, Multi-Family and/or serves as a technical expert in complex financing involving tax-exempt bond financing, multiple sources of financing, new loan/insurance pilot or demonstration financing initiatives, programs and techniques while the Loan Insurance Underwriter II, Multi-Family performs the full range of duties and responsibilities under general supervision.  The Loan/Insurance Underwriter Lead/Advanced, Multi-Family is differentiated from the Loan/Insurance Underwriter Supervisor, Multi-Family in that Loan/Insurance Underwriter Supervisor, Multi-Family has supervisory responsibility for lower-level Loan/Insurance Underwriters, Multi-Family.

Assigns and reviews the work of and trains lower-level Loan/Insurance Underwriters, Multi-Family and/or serves as technical subject matter expert in complex commercial or multi-family mortgage loans/insurance involving tax-exempt bond financing, multiple sources of financing including tax credits, and new loan/insurance pilot or demonstration financing initiatives, programs and techniques;

Provides advice and guidance to lower-level Loan/Insurance, Underwriters Multi-Family on complex or unusual problems in the analysis and recommendation for approval or denial of multi-family housing loans or insurance;

Reviews and analyzes project information, including cash flow and debt service computations and cost certification, to determine if buyer, property and loan conditions meet State standards;

Reviews applications for compliance with federal and State rules and regulations, and program emphasis;

Determines the amount of funding needed by applicants to secure mortgage loans or insurance for multi-family housing or commercial projects;

Analyzes feasibility of project, including market area competition or saturation, and income restrictions of buyers or renters;

Performs underwriting analysis to determine acceptability and degree of risk of projects to the State or private lenders;

Recommends approval or denial of underwriting requests based on financial risk to State or private lenders;

Reviews and approves project budgets, draw schedules, initial draws and monitors construction draws and sales of approved projects;

Devises plans to avert or minimize losses to the State or private lenders on guaranteed loans or insurance;

Acts as liaison with private lenders, tax credit investors and syndicators and other financial entities to explain 

State program requirements for multi-family housing mortgage loans/insurance or business lending programs;

Prepares status reports on project information for supervisors;

Leads and conducts lender, investor, stakeholder and developer training;

May assist in developing procedures to improve and facilitate loan processing for multi-family housing/insurance projects;

Performs other related duties.

Knowledge of mortgage loan and mortgage insurance analysis and evaluation;

Knowledge of federal and State housing programs;

Knowledge of real estate law;

Knowledge of financial and accounting practices;

Skill in evaluating the risk involved to the State or private lenders in granting loans or insurance for multi-family housing or commercial projects;

Skill in evaluating debt service coverage, real estate sites and real estate markets;

Skill in interpreting financial statements;

Skill in using computerized spreadsheet applications and software;

Ability to perform arithmetic calculations;

Ability to develop and present reports, analyses and recommendations;

Ability to assign and review the work of and train lower-level Loan/Insurance Underwriters, Multi-Family;

Ability to plan, coordinate and evaluate complex financing involving tax-exempt bond financing, multiple sources of financing, new loan/insurance pilot or demonstration financing initiatives, programs and techniques;

Ability to establish and maintain effective working relationships with agency asset management officers, developers, bank officials, attorneys, equal opportunity officers, local government officials, and federal housing department staff.

Experience: Seven years of experience evaluating the risk involved in granting loans or insurance for multi-family housing or commercial projects.

Notes:

1. Candidates may substitute the possession of a Bachelor's degree from an accredited college or university in Business Administration, Management, Finance or related field and three years of experience evaluating the risk involved in granting loans or insurance for multi-family housing or commercial projects for the required experience.

2. Candidates may substitute U.S. Armed Forces military service experience as a commissioned officer in loan specialist classification or loan specialist specialty codes in the loan specialist field of work on a year-for-year basis for the required experience.

Class specifications are broad descriptions covering groups of positions used by
various State departments and agencies. Position descriptions maintained by the using department or agency specifically address the essential job functions of each position.

This is a Skilled Service classification in the State Personnel Management System.  All positions in this classification are Skilled Service positions.  Some positions in Skilled Service classifications may be designated Special Appointment in accordance with the State Personnel and Pensions Article, Section 6-405, Annotated Code of Maryland.

This classification is assigned to Bargaining Unit G, Engineering, Scientific and Administrative Professionals classes.  As provided by State Personnel and Pensions Article, Section 3-102, special appointment, temporary, contractual, supervisory, managerial and confidential employees are excluded from collective bargaining.  Additionally, certain executive branch agencies are exempt from collective bargaining and therefore, all positions in those agencies are excluded from collective bargaining.