Underwriter, Affordable
4 weeks ago
Newmark is in search of Underwriters with 3-5+ years of commercial underwriting experience with GSE affordable loans. The Underwriter's primary responsibilities will be to provide day-to-day financial, market, and underwriting analysis of affordable multifamily loans. This is an excellent opportunity to be thoroughly educated about the underwriting of multifamily mortgages, to have extensive contact with our clients, and to train under the premier programs (Fannie Mae and Freddie Mac). This position affords the opportunity to work closely with our Senior Credit team and Originators on the structuring and underwriting of affordable transactions.
The position requires prior DUS underwriting experience with extensive familiarity of Fannie Mae and Freddie Mac Multifamily MAH/TAH Guides and Affordable product types (Preservation, LIHTC, Tax-Exempt Bonds, Section 8, etc.)
**Essential Duties and Responsibilities**:
- Analyze, interpret, and underwrite complex multifamily real estate transactions in compliance with respective agency guidelines (Fannie Mae and Freddie Mac)
- Conduct detailed economic and demographic research to determine feasibility of transactions
- Prepare and present comprehensive loan approval package to credit committee
- Develop and maintain strong relationships with origination and closing departments and external agency investors
- Conduct comprehensive inspections of physical real-estate assets on an as-needed basis
**Core Competencies**:
- Highly developed analytical, research and written/oral presentation skills
- Ability to problem-solve and exercise independent judgment while displaying a high degree of initiative and accuracy
- Demonstrated ability to organize & prioritize projects, complete multiple tasks on schedule
- Ability to work productively under mínimal supervision
- Proficiency in Microsoft Office, especially in EXCEL and Word
- Strong work ethic
- Proactive team player, able to work effectively under sometimes stressful conditions.
**Qualifications**:
- Bachelor’s degree in Accounting, Finance, Economics, Real Estate, or other related fields. 3-5+ years commercial underwriting experience with affordable loans
- GSE multifamily experience
- Prior DUS underwriting experience with extensive familiarity of Fannie Mae and Freddie Mac Multifamily MAH/TAH Guides and Affordable product types (Preservation, LIHTC, Tax-Exempt Bonds, Section 8, etc.) Able to travel a minimum of 10-20%
**Salary**: $90,000 - $150,000 annually**
The expected base salary for this position ranges from $90,400 to $150,000 annually. The actual base salary will be determined on an individualized basis taking into account a wide range of factors including, but not limited to, relevant skills, experience, education, and, where applicable, licenses or certifications held. In addition to base salary and a competitive benefits package, this position may be eligible for additional types of compensation including discretionary bonuses and other short
- and long-term incentives (e.g., deferred cash, equity, etc.).
**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.
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