Multifamily Underwriting Senior - Small Balance Loans, New York

Freddie Mac New York , NY 10007

Posted 2 months ago

If you are a smart, curious, self-motivated professional with a passion for multifamily real estate, Freddie Mac Multifamily might be the employer for you. We are looking for a Multifamily Underwriting Professional to join our team to help build and grow our newest and highest priority execution - origination of Small Balance Loans (SBL). This team is responsible for evaluating and mitigating credit risk for standard multifamily loans up to $7.5 million, and annual production in the Freddie Mac SBL program is expected to grow and stabilize at over $10 billion annually. If you are interested in being professionally challenged, being a part of an execution with big growth potential, all while working for the largest Multifamily lender in the country, come join our dynamic and exciting team in our New York office!

Your work falls into three primary categories:

Analysis

  • Review and ensure concise, complete, and transparent Investment Briefs and ensure accurate data quality for loan securitization

  • Opine and conclude on unique SBL pro forma property financial statement considerations, resolve transactional issues that escalate in third party report, work with Producers to structure deals, review of borrower financial position, market analysis, property inspections, present deals for approval as needed

  • Minimize major audit findings; promptly identify and successfully resolve operational issues

  • All responsibilities build toward credit approval and closing individual mortgage loans collateralized by multifamily properties.

Structure and Development

  • Proven ability to learn fast in diverse business environments

  • Competent at project management and juggling multiple, fast paced deliverables

  • Ability to thrive under pressure

  • Understand and convey market implications on subject asset

  • Develop resolutions to problems of limited scope following specific and detailed procedures

  • Keep updated on policies and regulations that may affect the industry and be comfortable with transition and change.

Communication

  • Collaborate with external customers, internal business partners, such as loan producers and legal counsel, and the leadership team to achieve shared success

  • Work closely with SBL Seller/Servicers to maximize efficiency and transparency in the Prior Approval model

  • Participating in providing reporting and management feedback.

  • Recommending changes to policies and establishes procedures that affect immediate organization's operation

Qualifications

  • Typically has BA/BS degree or equivalent professional experience, advanced degree preferred

  • A minimum of 5 years of directly related work experience in the multifamily real estate industry

  • Deep knowledge of real estate property fundamentals and real estate lending/underwriting

  • Proficiency with Microsoft Excel and Word

  • Ability to travel domestically

Keys to success in this role

  • Multi-task/prioritize

  • Relationship builder inside and outside of SBL

  • Harness the power of data to formulate and inform communications

  • Keep calm under pressure

  • Stay current on policies and regulations that may affect the industry and be comfortable with transition and change

Top 3 Personal Competencies to possess

  • Teamwork
  • The ability to inspire the best in others
  • Drive for Execution
  • Follow through
  • Precision - possess drive to be accurate and complete

Today, Freddie Mac makes home possible for one in four home borrowers and is one of the largest sources of financing for multifamily housing. Join our smart, creative and dedicated team and you'll do important work for the housing finance system and make a difference in the lives of others. Freddie Mac is an equal opportunity and top diversity employer. EOE, M/F/D/V.


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Multifamily Underwriting Senior - Small Balance Loans, New York

Freddie Mac