Multifamily Underwriter

2 weeks ago

Chicago, Illinois, United States Bellwether Enterprise Full time
Job Summary

The Multifamily Underwriter is a key role at Bellwether Enterprise, responsible for managing and coordinating the underwriting process for multifamily loan applications. This includes project managing and coordinating the movement of applications through the underwriting pipeline from engagement to closing.

Main Responsibilities
  • Establish transaction timelines in conjunction with the Team Lead and Deputy Chief Underwriter, and Producer.
  • Conduct a critical review and analysis of the appraisal, including a review of the market analysis, property description, real estate tax analysis, zoning analysis, and the comparable properties.
  • Conduct due diligence review of issues relating to the property's market, location, condition, borrower and principal's mortgage credit issues, property management and other issues relevant to risks identified.
  • Demonstrate ongoing knowledge and competency with Freddie Mac and Fannie Mae program guidelines as established in each of their Multifamily Seller and Servicer Guides.
  • Conduct site inspections, lease audits, and market analysis for transactions underwritten.
  • Oversee generation of BWE's underwriting checklist and all forms as appropriate for the proper product type and introduce borrower to the information requirements.
Requirements
  • 2 years of agency multifamily experience or equivalent.
  • Bachelor's Degree required.
  • Previous Fannie Mae/Freddie Mac underwriting strongly preferred.
  • Proficient in Microsoft Office products.
  • Ability to operate effectively in a team environment as well as able to work independently.
  • Ability to meet deadlines and work in a fast-paced environment and demonstrate a proven track record of multi-tasking.
  • Excellent written and verbal communication skills.
  • Knowledgeable with a variety of product types including Low-Income Housing Tax Credits (LIHTC), tax-exempt private activity bonds, project-based Section 8, HUD RAD, HUD Section 18, and other state and local subsidies.

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