Underwriter

Underwriter

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Our people at JLL are shaping the future of real estate for a better world by combining world class services, advisory and technology for our clients. We are committed to hiring the best, most talented people and empowering them to thrive, grow meaningful careers and to find a place where they belong. Whether you've got deep experience in commercial real estate, skilled trades or technology, or you're looking to apply your relevant experience to a new industry, join our team as we help shape a brighter way forward.

We are currently seeking an Underwriter to join our JLL Capital Markets-Multifamily Debt Team.

The position will be HYBRID based in our Dallas, DC, Tampa, Chicago, LA, San Francisco, or Atlanta offices.

The Underwriter must demonstrate the ability for detail, organization and analytical orientation, and possess the initiative to work in an independent and reliable manner.

The Underwriter will provide exceptional service to our clients and underwrite multifamily products. They will complete the underwriting narrative and financial analysis, identify strengths and weaknesses with appropriate mitigants and present to loan committee for approval. The Underwriter must have knowledge of both the Fannie Mae DUS and Freddie Mac Program Plus programs and must have the ability to underwrite multifamily conventional transactions.

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
• Review of specialized documents such as ground leases, regulatory agreements, Section 8 contracts, bond documentation and operating agreements
• 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
• Complete 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
• Additional duties as deemed necessary by management

Qualifications Required:

• 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
• Ability to multitask and work on several transactions simultaneously
• Ability to recognize and mitigate risk
• Excellent attention to detail and the ability to work independently and in teams
• Ability to travel as needed

Physical Demands:

Must be able to physically inspect multiple residences and common areas within an apartment complex, as well as inspect comparable properties within the market. Employee must be able to physically move about the apartment complex, which shall require standing and walking for extended periods of time, and climbing stairs. Inspections may also require the ability to sit, reach, and bend.

Travel shall include various modes of travels (including but not limited to planes, trains and automobiles) to different time zones and may require overnight lodging.

This position does not provide visa sponsorship. Candidates must be authorized to work in the United States without sponsorship.

Estimated compensation for this position:

150,000.00 300,000.00 USD per year

This range is an estimate and actual compensation may differ. Final compensation packages are determined by various considerations including but not limited to candidate qualifications, location, market conditions, and internal considerations.

Location:

On-site Atlanta, GA, Chicago, IL, Dallas, TX, Los Angeles, CA, San Francisco, CA, Tampa, FL, Washington, DC

If this job description resonates with you, we encourage you to apply, even if you don't meet all the requirements. We're interested in getting to know you and what you bring to the table!

Personalized benefits that support personal well-being and growth:

JLL recognizes the impact that the workplace can have on your wellness, so we offer a supportive culture and comprehensive benefits package that prioritizes mental, physical and emotional health. Some of these benefits may include:

• 401(k) plan with matching company contributions
• Comprehensive Medical, Dental & Vision Care
• Paid parental leave at 100% of salary
• Paid Time Off and Company Holidays
• Early access to earned wages through Daily Pay