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Senior Underwriter for Affordable Housing

2 months ago


Washington, United States Merchants Bancorp Full time
Job Type

Full-time

Position Overview

The Senior Underwriter for Affordable Housing plays a critical role in the assessment and approval of multifamily mortgage loan transactions, ensuring compliance with established Agency and Bank standards. This position is essential for maintaining the integrity and quality of underwriting processes.

Key Responsibilities

As a Senior Underwriter, your duties will include:
  • Thoroughly reviewing client data and making informed credit decisions, ensuring all documentation aligns with secondary market guidelines.
  • Managing client relationships and expectations through effective communication, proactively addressing potential challenges.
  • Independently underwriting new loan applications for Fannie Mae and Freddie Mac, evaluating credit risk and securing necessary approvals.
  • Conducting site inspections of properties to assess their viability and compliance.
  • Overseeing third-party vendor evaluations, including appraisals and environmental assessments, to ensure comprehensive risk analysis.
  • Coordinating communication among internal teams, external vendors, and legal counsel to facilitate smooth transaction processes.
  • Analyzing financial statements and other relevant documents to identify potential credit risks, utilizing strong problem-solving skills.
  • Creating and managing a Due Diligence checklist, ensuring all necessary documentation is received and processed efficiently.
  • Preparing loan packages for submission to the Credit Committee and Agency Lenders.

Qualifications

The ideal candidate will possess:
  • A bachelor's degree in finance, economics, real estate, or a related field.
  • A minimum of three years of experience in multifamily loan underwriting, specifically with Fannie Mae and Freddie Mac products.
  • In-depth knowledge of Agency lending guidelines and pricing standards to effectively assess credit risk.
  • Familiarity with various organizational structures, including LLCs and Corporations.
  • Strong analytical skills and the ability to present findings clearly and effectively.
  • A proactive approach to teamwork, with the ability to mentor junior underwriting staff.

About Merchants Bancorp

Merchants Bancorp has established itself as a leader in multifamily housing finance, dedicated to providing innovative solutions that enhance access to affordable housing. With over three decades of experience, we leverage our partnerships with Fannie Mae, Freddie Mac, and HUD/FHA to deliver customized financing options. Our commitment to excellence and integrity makes us a top choice for developers and property owners seeking comprehensive debt and equity solutions.