Senior Multifamily Underwriter (FT Remote)

Company: M&T Bank
Location: Baltimore
Posted on: June 25, 2022

Job Description:

Flexibility.Creativity.Focus.M&T Realty Capital Corporation - is a full-service mortgage banking company that specializes in providing competitive financing nationwide for commercial properties, including multifamily, healthcare facilities, office, industrial, retail, and student, seniors, and military housing. We are a wholly-owned subsidiary of M&T Bank-one of the 20 largest US headquartered commercial bank holding companies-and offer the following financing options:

• Fannie Mae DUS -
• Freddie Mac Optigo -
• FHA/HUD Healthcare
• FHA/HUD Multifamily
• Life insurance company
• Conduit (CMBS)
• Small Loan programTop Ten HUD Lender * Top Five Fannie Mae Green Lender * Top Five Fannie Mae Seniors LenderOverview:Responsible for due diligence and direct underwriting of multifamily transactions under the Fannie Mae & Freddie Mac programs. In addition, the UW is responsible for coordinating all aspects of the loan from the time the loan is assigned to the Underwriter to closing and after to ensure all data points are consistent and correct to be prepared for a successful post closing audit. Underwriter needs to be flexible to pivot quickly to incorporate new procedures and software systems.Position Responsibilities:
  • Analyze and manage the multifamily underwriting process ensuring loans are underwritten in accordance with appropriate investor guidelines and commitments are issued in a timely manner.
  • Responsible for accurate loan sizing and overall risk assessment prior to/or after application utilizing specific investor underwriting guidelines and requirements.
  • Interview prospective borrowers and property managers to obtain critical property, management, and borrower details for each transaction.
  • Responsible for reviewing subordinate debt documents and regulatory agreements in accordance to the program requirements.
  • Work with originators to determine most appropriate deal structure for transactions and resolve outstanding issues.
  • Interact with respective Investor Representatives (Fannie Mae, Freddie Mac, etc) regarding loan transaction terms and waivers.
  • Inspect property in accordance with Investor guidelines (travel required-national).
  • Obtain and review all third party reports associated with each transaction as required by specific investor.
  • Completion of underwriting narrative/committee package.
  • Work closely with the processing team to monitor the status of the submission and communicate with the deal team and customer to ensure transactions are submitted in a timely manner.
  • Review of commitment letter and handoff to loan closing department.
  • Stay current new or revised legislation and regulations that may impact established policies.
  • Coordinate with construction lenders, equity providers, and bond underwriters depending on the product type.
  • Work with loan analysists in sizing transactions prior to transactions going under application.
  • Addressing post-closing follow-up requests from asset management or rating agencies and potential buyers of the security during the securitization process (Freddie Mac).
  • Mentor junior underwriters assigned to transaction.
  • Complete other related duties as assigned.Scope of Responsibilities:Underwriters are required to use analytical skills to review rent roll, operating statements, financial statements, third party reports (real estate appraisals, market studies, physical needs reports and environmental reports) to make credit judgments and prepare the required application submissions to the appropriate agency.
    Position requires a high level of detail and desire/ability to serve as mentor to others on the team, as experience is gained.Supervisory/ Managerial Responsibilities:Indirect management/mentor of other team members assigned to the transaction.Minimum Qualifications:Bachelor's Degree or equivalent work experience and 7 years underwriting or related experience to include completion of multifamily inspection training (or similar work experience and credit training) or in lieu of a degree a combined minimum of 11 years' higher education and/or work experience including a minimum of 7 years underwriting or related experience to include completion of multifamily inspection training (or similar work experience and credit training)
    Teamwork and strong verbal and written communication skills. Strong problem solving skills offering solutions to keep the transaction moving forward.
    Strong Excel and modeling ability.
    Travel will be required to inspect properties and attend necessary training, when available.www.mandtrealtycapital.comLocationBaltimore, Maryland, United States of America

Keywords: M&T Bank, Baltimore , Senior Multifamily Underwriter (FT Remote), Accounting, Auditing , Baltimore, Maryland