Underwriter

Overview

Underwrites multifamily mortgage loans, assessing risk and ensuring compliance with Freddie Mac and Fannie Mae guidelines.

Key Responsibilities

• loan underwriting
• feasibility analysis
• report review
• appraisal review
• site inspection
• due diligence

Tasks

-Underwrite complex multifamily real estate transactions in accordance with official Freddie Mac and Fannie Mae product guidelines. -Oversee generation of borrower’s checklist for the proper product type and introducing borrower to the information requirements. -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. -Establish underwriting timeline in conjunction with the loan officer and closing coordinator. -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 -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 -Prepare comprehensive loan narratives for Chief Underwriter credit approval. -Selecting contractors and initiation of the necessary third party reports for the underwriting process (e.g., appraisal, environmental, engineering. -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. -Conduct site and market inspections. -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

Requirements

• multifamily underwriting
• appraisers
• freddie mac
• fannie mae
• professional certification
• leadership

What You Bring

-Experience working with appraisers and engineering/environmental firms required -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 -Demonstrated relationships with Freddie Mac and Fannie Mae personnel -Other skills related to building a career in Underwriting! -Advanced degree or professional certification (e.g., MAI, CCIM) preferred -Excellent interpersonal and presentation skills and the ability to effectively communicate with all levels of management -Demonstrated commitment to innovation and change and willingness to take initiative to accomplish change -Bachelor’s degree required preferably with an emphasis on Real Estate, Economics or Finance preferred -Courtesy, respect, and thoughtfulness in teaming with colleagues and other stakeholders -Communicate and problem-solve daily with teammates, clients, vendors, and other stakeholders, often in combination with travel. -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. -3+ years underwriting experience with Fannie Mae and Freddie Mac loans required -Multifamily experience across a wide range of financial and product executions including fixed and variable rate transactions -Demonstrated ability to develop and execute solutions to complex issues and transactions -Ability to show ownership of your work, take on challenges and acknowledge growth opportunities, and demonstrate patience when learning new processes -Demonstrated leadership with evidence of increasing responsibility throughout career history

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Benefits

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

About Walker & Dunlop

-Provides capital solutions for commercial real estate transactions across multiple sectors. -Diverse portfolio includes financing for residential, industrial, commercial, and mixed-use projects. -Offers capital markets, loan servicing, investment sales, and agency lending services. -Notable projects include financing for major office buildings, residential complexes, and large-scale industrial facilities. -Continuously innovates with technology to enhance financial solutions.

Sector Specialisms

Security Clearance

-background checks are conducted after a conditional offer and consider fair chance hiring practices.