Associate, Underwriting

About the Role

The Associate is responsible for processing and analytical duties in support of underwriting multifamily mortgage financing programs. The role requires attention to detail, strong organizational skills, and analytical ability. The Associate will drive the document request, collection, and underwriting process, independently analyze credit and financial information to assess loan risk, and work collaboratively within a team.

Responsibilities

• Assist senior staff and/or Underwriter during the loan underwriting process by requesting, collecting, and managing required due diligence documentation.
• Prepare, distribute, and maintain Due Diligence Checklists and Application Workbooks, updating regularly to meet target underwriting dates.
• Collect, review, and advise the underwriting team regarding the receipt and status of all underwriting documentation.
• Establish and maintain loan files, retaining and organizing loan documentation in appropriate electronic data storage folders.
• Collect and input data into a proprietary pipeline management platform.
• Coordinate with the Third Party Manager and the Underwriter on the engagement and receipt of required third-party reports.
• Participate in regular calls with borrowers regarding due diligence status, timing updates, and coordination with external parties.
• Work with the Underwriter to collect, input, and analyze property data, including property operating statements, rent rolls, and third-party report information.
• Verify and update property operating information in the underwriting analysis workbook.
• Upon receipt of due diligence (third-party reports, borrower/sponsor financial statements, SREO, Underwriting Certificates, credit reports, and investor database credit checks):
  • Review and notify the Underwriter of any material issues.
  • Transfer data from reports to the underwriting analysis workbook and narrative.
• Assist with assembling the loan package, ensuring quality control, and delivering to Investors after closing.
• Reconcile and approve final loan accounting.
• Work professionally and collaboratively with the underwriting team, loan originators, borrowers, and other deal team members.
• Perform other projects and duties as assigned.

Requirements

• Bachelor’s degree in Finance, Accounting, Real Estate, or Business Administration preferred.
• 1-3 years of commercial real estate experience required; multifamily experience strongly preferred.
• Experience with Fannie Mae and/or Freddie Mac Multifamily loan programs preferred.
• High-level knowledge of financial statement analysis, general accounting, cash flows, and mortgage interest calculations.
• Knowledge of real estate finance and/or investment real estate, particularly multifamily.

Skills

• Highly analytical thinking with demonstrated talent for identifying, scrutinizing, improving, and streamlining complex work processes.
• Results-driven achiever with exemplary planning, multitasking, and organizational skills, along with a high degree of attention to detail.
• Exceptional listener and communicator who effectively conveys information verbally and in writing.
• Resourceful team player who excels at building trusting relationships with clients and colleagues.
• Proficiency in the Microsoft Office suite.

Pay

Annual base salary range: $95,000 - $110,000 (NY & CA only). The base salary range represents the estimated low and high end of the salary for this position based on geography. Actual base salaries will vary and will be based on factors such as candidate’s qualifications, skills, competencies, and proficiency for the role. The base pay is one component of the total compensation package, which also includes cash bonuses, long-term incentives, health insurance, accident and life insurance, and retirement benefits.

Benefits

• You Time: Competitive vacation policy, floating personal holidays, extensive leave options, annual observed holidays, and more.
• Family Care: Infertility coverage, adoption support, child and elder care, fully paid maternity leave, and generous parental leave benefits.
• Flexible Work Arrangements: Hybrid working model with a 3-day in-office minimum requirement.