Underwriter

Description

• Establish underwriting timeline in conjunction with the loan officer and closing coordinator.
• Prepare comprehensive loan narratives for Chief Underwriter credit approval.
• Thorough due diligence review of issues relating to the property’s market, location, condition, borrower and principal’s mortgage credit issues, property management and other issues relevant to risks identified in borrowers checklist
• Conduct detailed analysis of each transaction to determine the feasibility of each loan.
• Assess borrower financial and legal standing to determine borrower eligibility for each loan
• Underwrite complex multifamily real estate transactions in accordance with official Freddie Mac and Fannie Mae product guidelines.
• Conduct a critical review and analysis of the appraisal, including a review of the market analysis, property description, real estate tax analysis, zoning analysis and the comparable properties submitted.
• Oversee generation of borrower’s checklist for the proper product type and introducing borrower to the information requirements.
• Conduct a critical review and analysis of the engineering report and environmental reports plus additional reports included as part of the underwriting including, seismic studies and market studies as appropriate
• Selecting contractors and initiation of the necessary third party reports for the underwriting process (e.g., appraisal, environmental, engineering.
• Conduct site and market inspections.
• Assist Loan Officers and Regional Managers in issuing quotes and applications: preliminary estimate of NOI and determination of threshold issues to estimate debt service coverage and loan-to-value ratios.

Requirements

• Ability to show ownership of your work, take on challenges and acknowledge growth opportunities, and demonstrate patience when learning new processes
• Communicate and problem-solve daily with teammates, clients, vendors, and other stakeholders, often in combination with travel.
• Excellent interpersonal and presentation skills and the ability to effectively communicate with all levels of management
• Attendance is generally required from 8:30 am – 5:30 pm local time, Tuesday through Thursday, with the option to work remotely on Mondays and Fridays.
• Demonstrated commitment to innovation and change and willingness to take initiative to accomplish change
• Demonstrated ability to develop and execute solutions to complex issues and transactions
• Demonstrated leadership with evidence of increasing responsibility throughout career history
• Bachelor’s degree required preferably with an emphasis on Real Estate, Economics or Finance preferred
• Experience working with appraisers and engineering/environmental firms required
• 3+ years underwriting experience with Fannie Mae and Freddie Mac loans required
• Advanced degree or professional certification (e.g., MAI, CCIM) preferred
• Demonstrated knowledge of and experience in multifamily underwriting. This includes but would not be limited to a working knowledge of the key players in the industry, the issues and trends facing the industry, the ability to identify and underwrite the key credit, sponsor related risks, and the ability to evaluate alternative risks carefully when structuring a transaction, and a demonstrated knowledge of property operations
• Courtesy, respect, and thoughtfulness in teaming with colleagues and other stakeholders
• Other skills related to building a career in Underwriting!
• Multifamily experience across a wide range of financial and product executions including fixed and variable rate transactions
• Demonstrated relationships with Freddie Mac and Fannie Mae personnel

Benefits

• The opportunity to join one of Fortune Magazine’s Great Places to Work winners from 2015-2023
• Career development opportunities
• 401(k) + match
• Company-paid life, short and long-term disability insurance
• Health Savings Account and Healthcare and Dependent Care Flexible Spending
• Competitive dental and vision benefits
• A robust health and wellness program – earn cash rewards and gain access to resources that
• Pre-tax transit and commuting benefits
• Up to 83% subsidized medical payroll deductions
• Comprehensive benefit options* that have earned Walker & Dunlop the silver level of the 2022 Cigna Healthy Workforce Designation™, some of which include:
• Empowerment and encouragement to give back – volunteer hours and donation matching
• Paid maternity and parental leave, as well as other family paid leave programs

Training + Development

Interview process

Visa Sponsorship

Security clearance