Underwriter (Chicago)

JLL empowers you to shape a brighter way. 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 Underwriterto 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 informationLead 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 introductionsManage to customer satisfaction and internal timelines for transaction fundingCompile independent data and form conclusions on market conditions, management, property condition, and sponsorReview 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 propertiesReview of specialized documents such as ground leases, regulatory agreements, Section 8 contracts, bond documentation and operating agreementsPerform financial analysis including trend and cap rate analysis, capital expenditure requirements and proforma NOI and DSC calculationsAnalyze and evaluate complex ownership borrower structures relative to legal and financial responsibilities and obligationsComplete property site inspectionsRegularly communicate loan status updates to underwriting team and originators as appropriate.Prepare waiver/exception justificationsComplete loan narrative incorporating strengths, weaknesses and mitigants in the overall transactionWork closely with closing and pricing during rate lock to ensure the approved loan amount and structure is appropriately matched to the approved rate lock termsReview for accuracy the draft commitment letter to be issued to the borrower to ensure commitment accuracyReview and approve data inputMentor Analyst and ProcessorAdditional duties as deemed necessary by managementQualifications Required:1-5 years of experience in Multifamily finance underwritingAn undergraduate degree in a business-related field (i.e. Finance, Accounting, Real Estate, Business)Strong Microsoft Excel and Word proficiencyStrong math, verbal, writing, leadership, and organizational skillsStrong time management skills and ability to operate under demanding deadlinesAbility to multitask and work on several transactions simultaneouslyAbility to recognize and mitigate riskExcellent attention to detail and the ability to work independently and in teamsAbility to travel as neededPhysical 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 yearThis 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, DCIf 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 contributionsComprehensive Medical, Dental & Vision CarePaid parental leave at 100% of salary Paid Time Off and Company HolidaysEarly access to earned wages through Daily PayAt JLL, we harness the power of artificial intelligence (AI) to efficiently accelerate meaningful connections between candidates and opportunities. Using AI capabilities, we analyze your application for relevant skills, experiences, and qualifications to generate valuable insights about how your unique profile aligns with the specific requirements of the role you're pursuing.JLL Privacy NoticeJones Lang LaSalle (JLL), together with its subsidiaries and affiliates, is a leading global provider of real estate and investment management services. We take our responsibility to protect the personal information provided to us seriously. Generally the personal information we collect from you are for the purposes of processing in connection with JLL’s recruitment process. We endeavour to keep your personal information secure with appropriate level of security and keep for as long as we need it for legitimate business or legal reasons. We will then delete it safely and securely.For more information about how JLL processes your personal data, please view our Candidate Privacy Statement.For additional details please see our career site pages for each country.For candidates in the United States, please see a full copy of our Equal Employment Opportunity policy here.Jones Lang LaSalle (“JLL”) is an Equal Opportunity Employer and is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation because of a disability for any part of the employment process – including the online application and/or overall selection process – you may email us at View email address on apply.placed-app.com. This email is only to request an accommodation. Please direct any other general recruiting inquiries to our Contact Us page > I want to work for JLL.Pursuant to the Arizona Civil Rights Act, criminal convictions are not an absolute bar to employment.Pursuant to Illinois Law, applicants are not obligated to disclose sealed or expunged records of conviction or arrest.Pursuant to Columbia, SC ordinance, this position is subject to a background check for any convictions directly related to its duties and responsibilities. Only job-related convictions will be considered and will not automatically disqualify the candidate.California Residents onlyIf you are a California resident as defined in the California Consumer Privacy Act (CCPA) please view our Supplemental Privacy Statement which describes your rights and disclosures about your personal information. If you are viewing this on a mobile device you may want to view the CCPA version on a larger device.Pursuant to the Los Angeles Fair Chance Initiative for Hiring Ordinance, JLL will consider for employment all qualified Applicants, including those with Criminal Histories, in a manner consistent with the requirements of applicable state and local laws, including the City of Los Angeles’ Fair Chance Initiative for Hiring Ordinance.Pursuant to the San Francisco Fair Chance Ordinance, we will consider for employment qualified applicants with arrest and conviction records.Accepting applications on an ongoing basis until candidate identified.SummaryLocation: Chicago, IL; Los Angeles, CA; San Francisco, CA; Washington, DC; Tampa, FL; Dallas, TX; Atlanta, GAType: Full time