Sr. Underwriter - Affordable

Location:

8117 Preston Road, Suite 400 - Dallas, Texas 75225

Perform due diligence and underwriting activities for Fannie Mae, Freddie Mac and Private Placement Affordable mortgage loans.

This position will be required to work in a KeyBank office. Preferred locations are Dallas, TX, Cleveland, OH and Overland Park, KS.

ESSENTIAL JOB FUNCTIONS

• Provide exceptional customer service to all clients. Pursue and develop internal and external relationships to facilitate well underwritten and risk-adverse real estate transactions that support the line of business strategy.

• Mentor, inspire and motivate teammates. Set a good example. Act professionally. Be a role model. Encourage mutual support and respect.

• Be able to thrive in a dynamic and fast-paced work environment.

• Actively contribute your unique talents, ideas and market intelligence in support of KeyBank's mission and complement the strengths of your teammates to achieve the KeyBank's goals.

• Ability to effectively communicate verbally or in written form. Be a good listener. Promote frequent, informal and direct communication with teammates, clients, GSE's and others.

• Be self-confident, self-motivated and require minimal direct supervision. Drive transactions to successful conclusions that meet client expectations.

• Make meaningful contributions to other platforms in the Commercial Mortgage Group (CMG) when requested or needed to ensure that CMG meets it goals.

• Demonstrate proficiency and full engagement with all Agency and Private Placement affordable and market rate multifamily programs. Provide programmatic and underwriting expertise when necessary.

• Process, analyze and underwrite Affordable loans in a timely manner. Consistently follow established policy and procedures for underwriting real estate transactions to ensure an efficient, professional and risk-adverse process and product.

• Show an understanding of LIHTC and bond financing programs.

• Exhibit strong knowledge of applicable lending program requirements, identifying and mitigating risks to ensure compliance.

• Review and assess all third-party reports for programmatic compliance, providing timely and meaningful feedback to vendors.

• Complete property inspections and market reconnaissance for assigned transactions.

• Review and understand complex borrower structures, identifying critical participants.

• Lead deal team that process, analyze and underwrite Affordable loans. Utilize all available resources to meet team demands and client expectations.

• Review and analyze documents related to Affordable transactions such as LURA's, subordinate debt documents, PILOTS and others and provide written descriptions in narratives.

• Analyze construction budgets for adequacy of funding for forward transactions.

• Maintain and manage internal underwriting and deal management platforms to ensure critical data points are current.

• Collaborate with origination, underwriting, closing and loan servicing staff to ensure the department complies with Agency guidelines.

• Work efficiently with management by professionally completing all duties as assigned and immediately elevate issues as needed.

• Complete all compliance requirements related to each transaction to minimize risk.

• Support mortgage bankers and management in the origination of Affordable loans to facilitate new business.

• Conduct training for staff as required. Recognize, promote and provide training opportunities for staff and self.

• Recruit and onboard new staff.

• Be active in trade organizations and be an exceptional representative of KeyBank at conferences, training and other events.

• Travel with overnight stays may be required to complete required property inspections.

REQUIRED QUALIFICATIONS

• Must demonstrate sound understanding of the fundamentals of analyzing Affordable multifamily real estate transactions.

• Bachelor's degree.

• Minimum of five years of experience in underwriting Affordable loans.

• Must be proficient in the Microsoft and Adobe products.

• Excellent verbal and written communication skills.

PREFERRED QUALIFICATIONS

• Degree in real estate, finance and/or economics is preferred but other Degree focus may be acceptable.

COMPETENCIES/SKILLS

• Demonstrates good organizational and time management skills.

• Demonstrates initiative and good leadership qualities.

• Capable of handling multiple deadlines driven tasks simultaneously.

• Works well in a team-oriented environmental.

• Handles conflict without a confrontational attitude.

EQUIPMENT USED/PHYSICAL REQUIREMENTS

• PC-based software such as Word, Excel, Outlook and Adobe Acrobat.

• Financial calculator and Excel-based financial analysis models.

TRAINING REQUIRED

• Must complete KeyBank compliance training within the required timelines.

• Must become familiar with KeyBank's processes and procedures for underwriting/processing.

Job Posting Expiration Date: 07/19/2024

KeyCorp is an Equal Opportunity and Affirmative Action Employer committed to building a diverse, equitable and inclusive culture. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status or other protected category.

Qualified individuals with disabilities or disabled veterans who are unable or limited in their ability to apply on this site may request reasonable accommodations by emailing HR_Compliance@keybank.com.