Job Description

UHNW Mortgage Underwriter

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 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.

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
• Assist 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 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
• Understanding of structured credit transactions including terms, covenants, etc. and impact to the residential mortgage product
• Excellent verbal and written communication skills, including ability to articulate the borrower’s financial profile and associated risks
• Underwriter should be comfortable working with Family Offices, CPAs, CFOs, Business Managers, Financial Advisors, etc.
• Superior 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 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
• 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

What You Can Expect From Morgan Stanley

At Morgan Stanley, we raise, manage and allocate capital for our clients – helping them reach their goals. We do it in a way that’s differentiated – and we’ve done that for 90 years. Our values - putting clients first, doing the right thing, leading with exceptional ideas, committing to diversity and inclusion, and giving back - aren’t just beliefs, they guide the decisions we make every day to do what's best for our clients, communities and more than 80,000 employees in 1,200 offices across 42 countries. At Morgan Stanley, you’ll find an opportunity to work alongside the best and the brightest, in an environment where you are supported and empowered. Our teams are relentless collaborators and creative thinkers, fueled by their diverse backgrounds and experiences. We are proud to support our employees and their families at every point along their work-life journey, offering some of the most attractive and comprehensive employee benefits and perks in the industry. There’s also ample opportunity to move about the business for those who show passion and grit in their work.

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Morgan Stanley is an equal opportunity employer committed to building and maintaining a workforce that is diverse in experience and background. Our recruiting efforts reflect our strong commitment to a culture of inclusion, where individuals are hired, developed, and advanced based on their skills and talents.

Our workforce reflects a broad cross-section of the global communities in which we operate, bringing a variety of backgrounds, talents, perspectives, and experiences.

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