Qualification Specialist

Neighborhood-Assistance-Corp.-of-America; Minnesota; On-site; USD 70,000 - 80,000; Full time

Benefits offered by this job

Excellent health benefits (single/fam)

Vision and dental PPO

401(k) with 70% employer contribution

Job summary

Neighborhood Assistance Corporation of America (NACA) is seeking a Qualification Specialist to review and underwrite mortgage files, applying NACApedia guidelines and a character-based approach to determine readiness for an affordable home loan.

You will review 12+ files daily, provide clear guidance to NACA Counselors, and document comprehensive narratives of each file. The position offers a salary range of $70,000–$80,000+ with overtime and benefits.

Qualifications

• 3+ years of mortgage underwriting or similar experience
• Experience as a NACA Counselor (preferred)
• Underwriting using character-based criteria and compensating factors
• Education, training, or teaching experience - Preferred
• Work with low- to moderate-income individuals and communities

Responsibilities

• Review and underwrite files per the guidelines and requirements set forth in NACA's Policies and Procedures as documented in the NACApedia
• Review at least ten files per day, ensuring efficient processing while maintaining quality standards
• Educate and provide instructions about the NACA policies for the NACA Counselor in completing qualification submissions
• Manually calculate income and assess Members’ readiness for homeownership with an affordable mortgage payment
• Write comprehensive narratives documenting all file reviews and communications with NACA Counselors

Skills

Mortgage underwriting

Character-based underwriting

Document review

NACApedia knowledge

Education

Bachelor's degree or offsetting work experience

HUD-certified housing counselor

Completed 20-hour course required by the SAFE Act

Passage of the NMLS National portion of the Mortgage Loan Originator exam

Tools

NACA Portal

Documentation management systems

Job description

If you are unable to complete this application due to a disability, contact this employer to ask for an accommodation or an alternative application process.

Qualification Specialist

Active Full Time Regular Full-Time Atlanta, GA, US

4 days ago Requisition ID: 1014

QUALIFICATION SPECIALIST

SALARY RANGE: $70,000 - $80,000+

FLSA: Non-Exempt

LOCATION: Charlotte, NC, Houston TX, Chicago IL, Atlanta GA, Boston MA

BENEFITS: Excellent single/family health, vision and dental PPO, 70% employer contribution and 401(k)

Qualification Specialist

NACA makes the dream of affordable homeownership a reality for many who have been subject to systemic racism and other factors. This includes access to NACA’s Best Mortgage in America and a streamlined mortgage process. NACA works with Members (i.e., homebuyers) from the initial educational workshop, individual counseling, purchase process and mortgage process.

The Qualification Specialist provides quality control to ensure that submissions meet NACA’s underwriting policies and criteria. NACA’s underwriting criteria are character-based, which is significantly different from lenders' traditional underwriting guidelines. The Qualification Specialist must approve Members for NACA Qualification. The Qualification Specialist’s review is based on NACA's comprehensive policies and procedures as outlined in NACA’s policies (i.e., NACApedia). The Qualification Specialist makes approval decisions by determining whether the Member is ready for homeownership with an affordable mortgage payment after reviewing a complete document and information package. This position requires effective communication with NACA Counselors to help them understand how to achieve NACA Qualification.

The NACA Counselor must submit complete and well documented files and advocate for Members who are ready for homeownership. The Qualification Specialist reviews the NACA Counselor’s file ensuring that NACA policies are being adhered to. The Qualification Specialist educates and provides instructions about the NACA polices for the NACA Counselor in completing compete and well documented qualification submissions. The comprehensive review may reject and/or require additional information or and/or documentation. Detailed narratives assist in the NACA Qualification review. Narratives are essential for documenting conversations with the NACA Counselor, detailing the steps the NACA Counselor and Members need to take to become NACA Qualified.

The Qualification Specialist is responsible for ensuring adherence to the NACA criteria, not to do the work the NACA Counselor should be doing. They are also a good resource for the NACA Counselor to answer questions. The vast majority of files submitted to the Qualification Specialist should be NACA Qualified without any conditions. The Qualification Specialist grades each file submitted for NACA Qualification for completeness and accuracy. The grading is to evaluate and provide constructive feedback to the NACA Counselor and to encourage more and better complete submissions. The scores may be used to reduce performance pay. If poor patterns and lack of improvement continue, it may be used for disciplinary action, and other uses as determined by NACA Management.

RESPONSIBILITIES:

Each Qualification Specialist is responsible for reviewing 12+ files each day in completing the below.

• Review and underwrite files per the guidelines and requirements set forth in NACA's Policies and Procedures as documented in the NACApedia
• Comprehensive understanding of NACA's Best in America Mortgage; character-based underwriting and compensating factors; NACA eligibility requirements, including income and area limitations; and NACA's priority interest rate eligibility and priority area designations; NACA's homeownership programs including Purchase & Rehab Mortgage, HOT-PHA (Housing Choice Voucher and One-Dollar Purchase.
• Understanding and operationalizing of NACA's mission of fighting for economic justice and neighborhood stabilization, and how this mission informs qualification decisions.
• Review and decision at least ten files per day, ensuring efficient processing while maintaining quality standards.
• Decision files within two days of submission.
• Require a NACA Counselor to resubmit a file where necessary documents or information is not provided to make a qualification.
• Recommend reductions in NACA Counselor’s file compensation based on incomplete files.
• Examine and verify the full document package and data entry to ensure accuracy and completeness in accordance with NACApedia guidelines.
• Manually calculate income and assess Members’ readiness for homeownership with an affordable mortgage payment.
• Examine and verify documents and data to ensure accuracy and completeness.
• Calculate the Members’ maximum affordable mortgage payment ("MAMP") including adherence to the limits of the housing and debt ratios.
• Review files under contract that are under the Maximum Affordable Mortgage Payment ("MAMP") and decide if the MAMP can be increased.
• Review and approve Payment Shock Savings Pattern requirement when Members qualify for a monthly mortgage payment higher than their current rent.
• Grade the submitted files providing an explanation if the category is not given full credit.
• Review the Member's payment history and explanations to determine if the Member is ready for homeownership based on payments they control, without consideration of credit score, consistent with NACA's character-based lending philosophy
• ion items to the NACA Counselor for Members to be NACA Qualified.
• Provide clear guidance and detailed lists of conditions to the NACA Counselor for next steps for NACA Qualification at both NACA Qualification (prior to housing search) and Credit Access.
• Accurately calculate Member's income using NACA's approved methodologies.
• Verify Member's liabilities (debt) and ensure all obligations are properly documented.
• Ensure Member eligibility requirements are met, including verification that Members do not have ownership interest in other properties, income and area limitations, and residency requirements.
• Verify Members compliance with NACA's owner-occupancy requirement and understanding of the $25,000 NACA Security Agreement and Neighborhood Stabilization Payment (NSP).
• Assess and approve interest rate buy-down options and principal reduction requests in accordance with NACA guidelines.
• Write comprehensive, detailed narratives documenting all file reviews, decisions, and communications with NACA Counselors in accordance with NACA documentation standards.
• Other responsibilities as determined by NACA management.

TIME DEMANDS:

The Qualification Specialist must be willing and able to meet the demands of the job that typically consists of 50+ hours per week. The typical working hours are 8:30 a.m. to 6:00 p.m. weekdays with additional time as NACA determines necessary on evenings, weekends, events and other activities with overtime as permitted and necessary. The compensation has been set to reflect this expectation.

COMPENSATION:

The compensation is based on experience, skills, performance and certifications. The annual salary is between $60,000 and $70,000 with overtime and any bonus as stated below with total annual compensation between $65,000 to $80,000+. The candidate’s performance evaluation and future compensation is largely based on meeting the job responsibilities, competencies and skills stated herein.

This is a non-exempt position, with eligibility for overtime pay for hours worked over 40 in a work week. The fixed weekly salary covers all hours worked each week even though the hours may vary from week to week. Overtime is computed based on the fluctuating work week ("FWW") method, subject to any local law requirements.

• Fixed Weekly Salary for All Hours Worked: The fixed salary is intended to compensate for all hours worked during the work week regardless of variations in the hours.
• Overtime: For all hours worked over 40 in a work week, payment will be additional overtime compensation. When overtime is owed, it will be computed by dividing the weekly salary by the number of hours worked that week, to determine the "Regular Rate" for the week. Additional overtime pay will then be calculated and paid by taking half of the your Regular Rate and applying it to all hours worked over 40 in the week.
• Accurate Timekeeping Required: You must accurately record and timely submit all hours worked each day and each workweek.
• No Guarantee of Hours: NACA does not guarantee any minimum or maximum number of hours. The fixed salary is compensation for the total hours worked each work week regardless of the number of hours.

Bonus

Management would determine any bonus based on the following.

• Qualification Underwriting – effective underwriting according to NACApedia.
• Qualification Production – meeting and exceeding number of qualifications reviewed.
• NACA Counselor Communication - timely and effective communication and education with NACA Counsels.
• Pipeline Management – managing a large number of files.
• Other Criteria – determined by management.

CORE COMPETENCIES:

NACA seeks staff with a positive and open attitude, a strong work ethic and relentless commitment to success with attention to detail and ability to meet aggressive deadlines and ambitious goals. S/he is expected to have a high level of core competencies and skills as stated below and described in detail at www.naca.com .

• Commitment to NACA's mission of economic justice and neighborhood stabilization;
• Strong analytical skills with attention to detail and ability to review complex financial documentation;
• Excellent time management skills with ability to review 12+ files daily while maintaining high quality standards;
• Strong communication skills, both written and verbal, with ability to clearly explain complex requirements to NACA Counselors and provide comprehensive professional narratives;
• Ability to make sound decisions based on NACA's character-based underwriting principles and documented compensating factors;
• Proficiency with technology platforms including the NACA Portal and documentation management systems;
• Understanding of and commitment to fair housing principles and NACA's approach to overcoming systemic barriers to homeownership.

EDUCATION & CERTIFICATIONS:

The below education and certifications are required

• Bachelor’s degree or offsetting work experience;
• Training, and licenses that demonstrate important knowledge and credentials;
• HUD-certified housing counselor;
• Completed 20-hour course required by the SAFE Act;
• Passage of the NMLS National portion of the Mortgage Loan Originator exam.

EXPERIENCE

• 3+ years of mortgage underwriting or similar experience – required;
• Effective NACA Counselor — Preferred;
• Underwriting using character-based criteria and compensating factors – Preferred;
• Education, training, or teaching experience - Preferred;
• Work with low- to moderate-income individuals and communities.

NACA is an equal opportunity employer. Minority and bilingual individuals, particularly those who speak and write in Spanish, as well as second chance applicants are strongly encouraged to apply. To follow-up and for inquiries regarding this and other positions contact NACA's HR Department at [e-mail] .

This job description is solely for descriptive purposes with NACA reserving the right to make unilateral changes to this job description. This job description does not constitute a contract for employment with employment at NACA on an “at-will” basis.

NACA is the largest and most effective non-profit homeownership and advocacy organization in the country. NACA is one of the most exciting homeownership and advocacy organization that is both respected and feared for its effective operations and aggressive advocacy over four decades. Founded in 1988, NACA has won campaigns against some of the country’s most powerful companies and individuals engaged in predatory and discriminatory lending. NACA’s success is a result of its relentless confrontational advocacy as well as state-of-the-art systems and operations. NACA is well positioned for the future with more than $20 billion from major lenders, of which $15 billion is from Bank of America, to fund its extraordinary mortgage.

NACA is rapidly growing with 50 offices nationwide and more than three million Members. NACA stands out in the following areas:

• NACA has revolutionized mortgage lending with its character-based housing counseling and mortgage programs, not based on traditional risk-based pricing or credit scores;
• Provides the best mortgage in America: No down payment, no closing costs, no fees, no mortgage insurance, at a below market fixed rate without consideration of one’s credit score;
• Largest and most effective HUD approved counseling organization providing from 20% to 30%+ of the nation’s housing counseling;
• In the forefront in the fight against abusive and discriminatory lending practices;
• Saved more than 500,000 homeownerswith an unaffordable mortgage from foreclosure during the mortgage crisis;
• High-profile organization whose affordable mortgage programs and community advocacy are frequently featured in the national, international and local media;
• Growing its existing offices, adding new offices nationwide, expanding its operations and hiring additional managers;
• Harnessing its power in the fight for economic justice and affordable homeownership for all.

For more information about NACA and its history and programs, visit www.naca.com .

Advocacy & Economic Justice

NACA is an advocacy organization dedicated to economic justice. NACA staff are required to adhere to and participate in NACA’s advocacy efforts. This includes:

• Community Organizing: Actively participating in campaigns to protect homeowners and expand affordable lending.
• Event Participation: Joining NACA’s "Achieve the Dream" events and other advocacy actions, which may require travel and weekend/evening commitments.
• Mission Alignment: Demonstrating a personal commitment to fighting for the rights of low-to-moderate income individuals and systemic change in the mortgage industry.