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Commercial Underwriter

$80k - $100k
Full-time

Professional Alternatives

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.

Founded in 1998, Professional Alternatives is an award-winning recruiting and that utilizes technology and relationships to deliver top talent.  Connect with us today!

Vacancy posted 1 day ago
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