Deputy Chief Underwriter-Affordable

4 weeks ago

McLean, United States Newmark Full time

Newmark is in search of a Deputy Chief Underwriter for its Agency lending platform, preferably based on the east coast in New York City or McLean, Virginia. This position will report to the Senior Managing Director, Chief Underwriter.


The Deputy Chief Underwriter will join our Multifamily Affordable Agency leadership team, providing oversight and strategic direction within the Affordable Agency underwriting platform. The role will involve hands-on underwriting of deals, mentoring less experienced team members, proposing credit policies, managing loan approvals, and overseeing the underwriting process for Fannie Mae MAH and Freddie Mac TAH loan business.


The successful candidate will have underwriting knowledge across all affordable product types (Preservation, LIHTC, Tax-Exempt Bonds, Section 8, etc.) and will manage underwriting assignments and scheduling, provide credit policy and guidance on specific transactions, and review/approve underwriting narratives and files. S/he will ensure that systems are in place for appropriate risk assessment and quality control of new loan originations and adherence to all investor and company requirements.



Essential Duties and Responsibilities:

  • Possess and apply a thorough knowledge of Fannie Mae and Freddie Mac systems, guidelines, policies, and procedures.
  • Develop, mentor and retain a diverse pool of talent;
  • Assure adherence to the company’s credit standards and guidelines;
  • Support the origination efforts by providing sound credit decisions and taking intelligent risks to facilitate new business opportunities;
  • Establish effective policies and procedures designed to maintain consistency among team members and effectively mitigate transactional risks;
  • Manage team workflow to ensure a positive experience for internal and external stakeholders;
  • Facilitate strong customer service and can-do attitude among staff members;
  • Interface with internal and external clients and contacts to facilitate relationships;
  • Maintain a productive relationship with all capital partners and stakeholders;
  • Implement credit policy standards and approve/decline loan requests based on credit guidelines, investor’s guidelines and general underwriting risk parameters;
  • Evaluate closed loans for consistency with original underwriting parameters; and
  • Cultivate and maintain strong leadership and teamwork among team members, as well as external relationships with Agencies and other trade associations;
  • Provide feedback to underwriting staff and investors, as necessary; and
  • Drive group to meet and exceed its business performance metrics and drivers.


Core Competencies:

  • Ability to purposefully develop and implement process improvements;
  • Ability to appropriately balance thinking/acting strategically with being hands-on;
  • Strong leadership abilities, with demonstrated capability to manage, mentor and develop team members;
  • Demonstrate excellent advocacy, customer service and negotiation skills, as well as strong communication skills;
  • Ability to multi-task and prioritize accordingly; and
  • Ability to travel extensively at times to attend industry conferences, management meetings, borrower meetings, and property reviews.


Qualifications:

  • Bachelor’s Degree in Real Estate, Accounting, Finance, Economics, or other related fields preferred;
  • Minimum of eight (8) years underwriting experience in multifamily affordable lending preferred;
  • Exceptional credit sense, judgment, and decision-making skills;
  • Demonstrable technical skills in underwriting, structuring, pricing and closing complex multi-family deals;
  • Strong knowledge of multifamily affordable lending programs, analytical tools and markets nationwide
  • Underwriting knowledge across all affordable product types (Preservation, LIHTC, Tax-Exempt Bonds, Section 8, etc.);
  • Proven track record of motivating and leading teams; and
  • Proficient in common Adobe and Microsoft applications including Word, PowerPoint and Excel.


SKILLS, EDUCATION AND EXPERIENCE:

  • High School Diploma
  • Strong problem-solving skills and the ability to proactively find solutions.
  • Excellent time management skills
  • Research skills.
  • Strong communication skills
  • Excellent analysis and writing skills.


WORKING CONDITIONS: Normal working conditions with the absence of disagreeable elements.


NOTE: The statements herein are intended to describe the general nature and level of work being performed by employees and are not to be construed as an exhaustive list of responsibilities, duties, and skills required of personnel so classified.

Newmark is an Equal Opportunity/Affirmative Action employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex including sexual orientation and gender identity, national origin, disability, protected Veteran Status, or any other characteristic protected by applicable federal, state, or local law.

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