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Job ID#: 37768
Job Title: Commercial Underwriter
Department: GSE Underwriting
Department Overview:
Our GSE Underwriting Department is at the forefront of pre-screening and underwriting all Fannie Mae and Freddie Mac loans. As a Commercial Underwriter, you will play a pivotal role as an integral part of our Underwriting team.
Primary Responsibilities:
- Structure and underwrite multifamily housing products and transactions, ensuring thorough due diligence.
- Anticipate and resolve issues for customers and the underwriting team.
- Demonstrate a solid understanding of Fannie Mae, Fannie Mae DUS, DUS Lenders, and Freddie Mac Program Plus.
- Apply knowledge of the Freddie Mac and Fannie Mae methodology for Proforma income and expenses.
- Stay abreast of updates in the DUS Guide and Freddie Mac Guide, fostering continuous improvement.
- Conduct site visits to evaluate multifamily projects, their management, and marketplaces.
- Review third-party Appraisals, Engineering Reports, Seismic Reports, and Environmental Assessments.
- Maintain well-documented Underwriting Files.
- Craft precise and analytical Narratives for submission to the Chief Underwriter.
- Collaborate closely with Asset Management, Production, Closing, and other departments to monitor and enhance portfolio performance.
- Business travel required.
- Effectively communicate and problem-solve with teammates, clients, vendors, and stakeholders.
- Other duties as assigned.
- Work hours typically from 8:30 am – 5:30 pm local time, Tuesday through Thursday, with the flexibility to work remotely on Mondays and Fridays.
Education and Experience:
- Bachelor’s degree required.
- 3+ years of commercial real estate experience underwriting multifamily loans.
- Experience independently underwriting 12+ GSE loans.
- Profound knowledge of the Fannie Mae DUS and Freddie Mac Program Plus programs.
Knowledge, Skills, and Abilities:
- In-depth expertise in underwriting and commercial real estate.
- Strong analytical skills to evaluate data swiftly and make informed decisions.
- Excellent interpersonal and presentation skills.
- Commitment to innovation, change, and taking initiative.
- Proven problem-solving abilities in complex transactions.
- Extensive experience in multifamily financial and product executions.
Benefits:
- Competitive salary and benefits package.
- Opportunity for professional growth and career development.
- Collaborative work environment with a supportive team.
- Exposure to industry-leading practices and processes.
