State of Maryland

A Loan/Insurance Underwriter Trainee is the entry level of work evaluating the risk involved in granting loans or insurance for single family homes or multi-family housing projects for the Maryland Department of Housing and Community Development.  Employees in this classification do not supervise other positions.

Employees in this classification receive close supervision from a Loan/Insurance Underwriter Supervisor, Single or Multi-Family or other administrative personnel.

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 classification specification.

The Loan/Insurance Underwriter Trainee, Loan/Insurance Underwriter I, Single or Multi-Family and Loan/Insurance Underwriter II, Single or Multi-Family are differentiated on the basis of degree of supervisory control exercised by the supervisor over these employees.  The Loan/Insurance Underwriter Trainee learns to perform duties under close supervision.  The Loan/Insurance Underwriter I, Single or Multi-Family performs duties under close supervision at times and under general supervision at other times depending on the complexity of the specific duty being performed.  The Loan/Insurance Underwriter II, Single or Multi-Family performs the full range of duties and responsibilities under general supervision.

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

Learns to determine the amount of funding needed by applicants to secure mortgage loans or housing insurance for single family homes or multi-family projects;

Learns to review applications for compliance with federal and State rules and regulations, and program emphasis;

Learns to perform underwriting analysis to determine acceptability and the degree of risk of projects to the State;

Learns to recommend approval or denial of underwriting requests based on financial risk to State;

Learns to monitor construction draws and sales of approved projects;

Learns how to devise plans to avert or minimize losses to the State on guaranteed loans or insurance;

Learns to acts as liaison with private lenders to explain State program requirements for single family home or multi-family housing mortgage loans or insurance;

Learns to prepare status reports on project information for supervisors;

May learn to analyze feasibility of project, including market area competition or saturation, and income restrictions of buyers or renters;

May learn to perform underwriting analysis to determine acceptability and degree of risk of projects to private lenders;

May learn to recommend approval or denial of underwriting requests based on financial risk to private lenders;

May learn to conduct lender training;

May learn to assist in developing procedures to improve and facilitate loan processing for single family home or multi-family housing projects;

May learn to perform other related duties.

Ability to learn mortgage loan and mortgage insurance analysis and evaluation;

Ability to learn federal and State housing programs;

Ability to learn real estate law;

Ability to learn financial and accounting practices;

Ability to learn how to evaluate the risk involved to the State or private lenders in granting loans or insurance for single family homes, multi-family housing or commercial projects;

Ability to learn how to evaluate debt service coverage, real estate sites, and real estate markets;

Ability to learn how to interpret financial statements;

Ability to learn to use computerized spreadsheet applications and software;

Ability to perform arithmetic calculations;

Ability to learn to develop and present reports, analyses and recommendations;

Ability to learn 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: Two years of experience providing staff support in loan or insurance underwriting.

Notes:

1. Candidates may substitute the possession of a Bachelor's degree from an accredited college or university in the fields of Business Administration, Management, Finance, or a related field for the required experience.

2. Candidates may substitute U.S. Armed Forces military service experience as a non-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 all positions in those agencies are excluded from collective bargaining.

Employees in this classification are eligible to receive overtime compensation.  An employee who works more than the normal workweek is entitled to be compensated for that overtime, as provided by the State Personnel and Pensions Article, Section 8-305.

This classification is one level in a Non-Competitive Promotion (NCP) series.  NCP promotions are promotions by which employees may advance in grade and class level from trainee to full performance levels in a classification series.  In order to be non-competitively promoted to the next level in a NCP series, an employee must: 1) perform the main purpose of the class as defined in the Nature of Work section of the class specification; 2) receive the type of supervision defined in the class specification, and 3) meet the minimum qualifications of the classification.