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Underwriting Manager -Multifamily

Location: McLean, Virginia
Date Posted: 06-07-2018
This position is in the Structured Underwriting group in the Multifamily division and will report to either the Senior Director or the Director of Structured Underwriting. Along with the directors, the Manager will be responsible for leading a team to originate, purchase and/or securitize loans. Loan production is nationwide, can be of any loan size but is often highly structured and/or large pools. The Structured UW team focuses on affordable and conventional products and includes any multifamily asset class, including seniors housing, manufactured housing and single family rental. Deals can be complex and require innovative and creative thinking along with addressing credit concerns. Out of the box thinking is critical.  The hired candidate will support underwriting as a manager for the Structured Underwriting team and collaborate with external customers, internal business partners, such as loan producers and legal counsel, and the leadership team to achieve shared success. 

Responsibilities Include: 
  • Responsible for credit quality of loan production and underwriting for a nationwide practice, focusing on affordable loan products but will also cover conventional loan products, including seniors housing, manufactured housing, and student housing.
  • Responsible for underwriting all property types, including highly structured and complex securitized deals, with an emphasis on large pools including seasoned loans (loans that are not originated for purchase).
  • Evaluate proposed loans for credit risk, negotiate, and obtain deal approvals, oversee the preparation and issuing of commitments; review and approve term sheets
  • Responsibilities entail creating and/or finalizing pro formas, I&E and rent roll analysis, review of third party reports, working with producers to structure deals, review of borrower financial position, market analysis, property inspections, presenting deals for approval.
  • Receives assignments in the form of objectives and determines how to use resources to meet schedules and goals.
  • Provides guidance and training to subordinates within the latitude of established company policies.
  • Will work with the Manager of Single Family Rental, Director and Senior Director to establish a formal training program for the group on all product lines
  • Recommends changes to policies and establishes procedures that affect immediate organization's operation.
  • Works on issues of diverse scope where analysis of situation or data requires evaluation of a variety of factors, including an understanding of current business trends. • Acts as an advisor to subordinates to meet schedules and/or resolve technical problems.
  • Develops and administers schedules, performance requirements; may have budget responsibilities.
  • Creation of new and complex products on an as needed basis
  • Must have strong ability to interface with and act as internal liaison to Production, Capital Markets, Legal, Purchase, Enterprise Risk Management, and Asset Management teams.
  • Occasional presentations required (senior management presentations, conferences, training, prescreen, etc.)
  • Travel around 30%
Qualifications: 
  • Typically has 8-10 years of strong Multifamily Underwriting experience and 2+ years management experience.
  • Bachelor’s degree in Real Estate, Finance, Business Administration, Economics or related discipline
  • Experience working in a fast paced environment and working independently
  • Strong financial / analytical skills
  • Exceptional Project Management skills
  • Solid problem solving and critical thinking skills
  • Ability to analyze and filter large amount of data quickly; strong attention to detail
  • Moderate to strong Excel skills
  • Property inspection experience
  • Ability to travel
Preferred Skills: 
  • MBA or advanced degree
  • Structured and Targeted Affordable Housing experience
  • Prior experience mentoring/coaching Analysts
  • CMBS/Securitization experience
  • Strong written and verbal communication skills
 
PL
 
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