Job description
Mortgage Underwriter - Remote Based
Job Number:
3234383
POSTING DATE: Mar 23, 2023
PRIMARY LOCATION: Americas-United States of America-Florida-Miami
EDUCATION LEVEL: None
JOB: Other
EMPLOYMENT TYPE: Full Time
JOB LEVEL: Assistant Vice President
DESCRIPTION
Morgan Stanley is a global financial services leader with three core businesses - Institutional Securities, Asset Management, and Global Wealth Management. Global Wealth Management is offered by the Morgan Stanley Wealth Management (MSWM) franchise, which has one of the world’s largest networks of Financial Advisors. In addition to our comprehensive financial services, which include brokerage, investment advisor, financial and wealth planning, annuities, insurance and retirement, Morgan Stanley is continuing to enhance our lending, trust and cash management capabilities. By combining our lending financial services business with private banking products built specifically to service the needs of Financial Advisors and their clients, we can tailor banking and lending solutions to client needs.
Morgan Stanley Home Loans is expanding its retail Mortgage Lending Division. We are looking for the best of the best to provide premier mortgage services to our clients. As part of Global Wealth Management Division (GWM), we have a partnership with Morgan Stanley’s retail brokerage network that provides a proprietary source of inbound business.
Morgan Stanley Private Bank National Association is seeking an experienced, positive and motivated individual to join our Home Loans underwriting team. The successful candidate will possess a combination of deal structuring and underwriting skills and experience underwriting mortgage loans for sophisticated borrowers with complex income streams. Our Mortgage Underwriters are responsible for analyzing clients’ financial background, and making lending decisions.
Location: Remote Based
Position Responsibilities
- Underwrite complex mortgage loans for high net worth clients
- Perform business financial statement analysis along with complex income / tax return analysis
- Analyze loans within delegated credit authority and in accordance with MSPBNA credit policy and credit culture
- Proactively manage assigned pipeline
- Assist in identifying or recommending alternative loan solutions
- Ensure data accuracy
- Underwrite within the Private Bank lending standards and risk appetite
QUALIFICATIONS
- Private bank lending experience, business relationship management or commercial credit analysis experience required including providing business financing
- Minimum 7 years’ experience credit analysis and underwriting for high net worth individuals
- Experience underwriting non-conforming loans
- Experience structuring and underwriting loans held in entities i.e. LLCs and Trusts
- Pipeline management experience required
- College degree preferred or equivalent experience, advance degree a plus
Skills/Abilities
- Ability to comprehend business financial statements and personal tax returns
- Excellent verbal and written communication skills, including ability to articulate the borrower’s financial profile and associated risks
- Must have current knowledge of underwriting and credit risk principles
- Ability to recognize, mitigate and escalate risks where appropriate
- Strong knowledge of unique property vesting i.e. trusts and LLC
- Complex self-employed income analysis is a critical requirement
- Ability to partner, collaborate with a deal team (comprising of Mortgage Consultants, Relationship Managers, loan processors, Private Banker and Financial Advisors)
- Experience with wealth management clients
- Extraordinary client service aptitude
- Meticulous follow-up and follow through
- Ability to work under tight timelines
- Excellent attention to detail
- High level of proficiency with Microsoft excel; proficient with Microsoft Office suite
Morgan Stanley's goal is to build and maintain a workforce that is diverse in experience and background but uniform in reflecting our standards of integrity and excellence. Consequently, our recruiting efforts reflect our desire to attract and retain the best and brightest from all talent pools. We want to be the first choice for prospective employees.
It is the policy of the Firm to ensure equal employment opportunity without discrimination or harassment on the basis of race, color, religion, creed, age, sex, sex stereotype, gender, gender identity or expression, transgender, sexual orientation, national origin, citizenship, disability, marital and civil partnership/union status, pregnancy, veteran or military service status, genetic information, or any other characteristic protected by law.
Morgan Stanley is an equal opportunity employer committed to diversifying its workforce (M/F/Disability/Vet).
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