UHNW Mortgage Underwriter

Position Overview

Morgan Stanley Private Bank National Association is seeking an experienced mortgage underwriter to join its Home Loans underwriting team. The ideal candidate will have a combination of deal structuring and underwriting skills, experience underwriting complex loans, and a proven track record in managing a high volume of transactions.

Position Responsibilities

• Underwrite and analyze multifaceted mortgage loans for high net-worth clients within delegated credit authority and in accordance with MSPBNA credit policy, lending standards and risk appetite
• Proactively and effectively manage and maintain a pipeline of complex transactions
• Provide guidance as related to complex income scenarios to partners and junior team members
• Perform complicated income, business financial statement and tax return analysis
• Aid in identifying or recommending alternative loan solutions
• Provide onboarding and training to new team members

Qualifications

• External private bank lending experience, business relationship management or commercial/structured credit analysis experience required, including providing business financing
• Minimum 10 years’ experience in credit analysis and underwriting for high net-worth individuals
• Experience underwriting non-conforming loans
• Experience structuring and underwriting loans held in entities such as 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
• Understanding of structured credit transactions including terms, covenants, etc., and their impact to the residential mortgage product
• Excellent verbal and written communication skills, including ability to articulate the borrower’s financial profile and associated risks
• Ability to recognize, mitigate and escalate risks where appropriate
• Superior knowledge of underwriting and credit risk principles
• Strong knowledge of unique property vesting, i.e., trusts and LLCs
• 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) as well as ability to partner with Structured Credit partners
• Extraordinary client service aptitude
• Meticulous follow-up and follow through
• Strong knowledge of Microsoft Excel and proficient with Microsoft Office suite