Underwriter

Responsibilities

• Analyze practical problems and resolve complex transactions when confronted with minimum detailed, concrete or standardized information
• Lead Initial (and all follow-up) Deal Team meetings to evaluate strengths and weaknesses of prospective loans, understand Fannie Mae DUS and Freddie Mac Program guidelines and offer direction to the team for guide compliance, establish underwriting/closing timeline, and make borrower introductions
• Manage to customer satisfaction and internal timelines for transaction funding
• Compile independent data and form conclusions on market conditions, management, property condition, and sponsor
• Review reports prepared by third-party consultants to determine market value, physical needs, environmental concerns and architectural/cost requirements are being met for multifamily and healthcare properties
• Perform financial analysis including trend and cap rate analysis, capital expenditure requirements and proforma NOI and DSC calculations
• Analyze and evaluate complex ownership borrower structures relative to legal and financial responsibilities and obligations
• Complete property site inspections
• Regularly communicate loan status updates to underwriting team and originators as appropriate. Prepare waiver/exception justifications
• Prepare loan narrative incorporating strengths, weaknesses and mitigants in the overall transaction
• Work closely with closing and pricing during rate lock to ensure the approved loan amount and structure is appropriately matched to the approved rate lock terms
• Review for accuracy the draft commitment letter to be issued to the borrower to ensure commitment accuracy
• Review and approve data input
• Mentor Analyst and Processor

Qualifications

• 1-5 years of experience in Multifamily finance underwriting
• An undergraduate degree in a business-related field (i.e. Finance, Accounting, Real Estate, Business)
• Strong Microsoft Excel and Word proficiency
• Strong math, verbal, writing, leadership, and organizational skills
• Strong time management skills and ability to operate under demanding deadlines
• Able to multitask and work on several transactions simultaneously
• Able to recognize and mitigate risk
• Excellent attention to detail and the ability to work independently and in teams