Senior Multifamily Underwriter (FT Remote)
Company: M&T Bank
Posted on: June 25, 2022
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
- Analyze and manage the multifamily underwriting process
ensuring loans are underwritten in accordance with appropriate
investor guidelines and commitments are issued in a timely
- 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
- Responsible for reviewing subordinate debt documents and
regulatory agreements in accordance to the program
- 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
- Inspect property in accordance with Investor guidelines (travel
- 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
- 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
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
Strong Excel and modeling ability.
Travel will be required to inspect properties and attend necessary
United States of America
Keywords: M&T Bank, Baltimore , Senior Multifamily Underwriter (FT Remote), Accounting, Auditing , Baltimore, Maryland
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