Multifamily Real Estate Intern

Found in: beBee jobs US - 2 weeks ago

Bloomington, Illinois, United States Freddie Mac Full time

At Freddie Mac, you will do important work to build a better housing finance system and you'll be part of a team helping to make homeownership and rental housing more accessible and affordable across the nation.

Employees, contingent workers and visitors are no longer required to show proof of vaccination to be on-site. Effective January 2023, Freddie Mac's hybrid work arrangement is 3 days in the office (specifically Tuesday, Wednesday & Thursday).

**Positions are available in multiple locations: Chicago, NY, LA, Mclean or Arlington VA (location is determined at the time of hire)**

Position Overview:

Are you looking for an inclusive company culture to help prepare you for a successful career? The Multifamily Division within Freddie Mac is searching for talented and creative individuals to support the division's objectives, projects and initiatives.

Freddie Mac Multifamily is a dynamic organization, providing interns a wide variety of experiences and responsibilities to build technical and soft skills, as well as their network. Interns in Freddie Mac Multifamily can actively work on real-world projects and deals, which will provide a broad exposure to Freddie Mac's important role in the mortgage industry, while developing skills that will apply directly to a career in commercial real estate

Our Impact:
  • Freddie Mac Multifamily helps to ensure an ample supply of affordable rental housing by purchasing mortgages secured by apartment buildings with five or more units
  • We provide mortgage funding for apartment loans throughout the nation, purchasing loans from a network of lenders and then securitizing them
  • Our funding spans the nation and we cover large metropolitan areas, mid-market cities, and smaller communities, housing a wide array of renters (i.e., students, working families, etc.)
Your Impact:
  • Based on your intern role, you will be supporting the business by conducting risk analysis, assisting with deal execution, working with loan accounting, conducting research and modeling or partnering on loan securitizations
  • You will interact with all levels of employees including senior management on various projects
  • You will build relationships across the organization to assist with customer partnerships

Business Case Study

As an intern, you will participate with a joint business case study with all Multifamily interns to work through the stages of a loan transaction to demonstrate your learnings to a group of internal mentors and division leadership

Areas of Internships:

As an intern, you will be selected for a short-term project in one of the departments/teams in Multifamily who perform the following functions.

  • Asset Management and Operations

Manages servicer relationships and Seller/Servicer performance reviews along with ongoing risk and loss mitigation efforts for the Multifamily portfolio. Provides guidance for business transformation, including strategic planning, systems, and processes. In addition, the department leads loan funding and document custody, loan servicing, Seller/Servicer counterparty risk, data management, governance and operational risk for the division.

  • Capital Markets - Modeling

Capital Markets department performs pricing, modeling and securitization functions related to Multifamily mortgage purchases that are either held in portfolio or securitized. The Modeling & Research team is primarily involved with conducting empirical data analysis on the multifamily markets and historic mortgage performance, and for developing analytical approaches or tools to support multifamily research, data science, statistical modeling,

and portfolio risk management.

  • Production & Sales

Markets, originates, and structures loan products and ensures volume, profitability and affordable housing targets are met. Manages relationships with Multifamily Sellers and borrowers.

  • Underwriting & Credit

Delivers consistent and high-quality transactions to the firm by analyzing transaction strengths and weaknesses and approving the creditworthiness of each loan transaction. This department also oversees loan level due diligence and credit functions within securitization and risk transfer processes, as well as the division's credit policies.

Qualifications:
  • Pursuing Bachelor's degree in Liberal Arts, Business Administration, Accounting, Finance, Economics, Real Estate, Math/Statistics, or a related discipline
  • Graduation date of December 2023 – May 2024
  • Availability to begin internship in May 2023
Keys to Success in this Role:
  • Ability to learn new skills / concepts quickly
  • Strong communication skills – written, verbal and interpersonal
  • Problem solving ability
  • Strong Microsoft Office skills
  • Must be a team player and able to work collaboratively
  • Ability to work efficiently under tight timelines with a positive attitude

Interns are paid at a set, non-negotiable hourly rate. The hourly rate for this role is $21.00

Current Freddie Mac employees please apply through the internal career site.

Today, Freddie Mac makes home possible for one in four home borrowers and is one of the largest sources of financing for multifamily housing. Join our smart, creative and dedicated team and you'll do important work for the housing finance system and make a difference in the lives of others.

We are an equal opportunity employer and value diversity and inclusion at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, disability status or any other characteristic protected by applicable law. We will ensure that individuals with differing abilities are provided reasonable accommodation to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment. Please contact us to request accommodation.

Notice to External Search Firms: Freddie Mac partners with BountyJobs for contingency search business through outside firms. Resumes received outside the BountyJobs system will be considered unsolicited and Freddie Mac will not be obligated to pay a placement fee. If interested in learning more, please visit and register with our referral code: MAC.

Time-type:Full timeJob Category:Intern / TemporaryFLSA Status:Non-Exempt

The anticipated annualized base salary range for this position is $43,680 to $52,000. All intern positions are paid at an hourly rate, which can be found in the body of the job description.

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