Underwriting Analyst - Small Balance Loans

Walker Bethesda , MD 20813

Posted 2 months ago

Primary Responsibilities:

  • Collect and review the necessary due diligence items to assist the underwriter in closing each loan

  • Conduct site visits to assess the condition and quality of multifamily properties

  • Able and willing to travel as needed to perform necessary job duties including site inspections and client visits

  • Interact with the borrower, broker and team members to provide updates as progress is made towards loan closing

  • Update the underwriting model as new operating data is received during the transaction process

  • Conduct reviews of market areas, property and site characteristics

  • Review of borrower and management qualifications

  • Expand knowledge and expertise of Fannie Mae Small Loan and Freddie Mac Small Balance Loan credit guidelines

  • Order and review third-party Appraisals, Engineering Reports, Seismic Reports, Phase I Environmental Assessments and Operations and Maintenance (O & M) Reports

  • Review third-party reports to determine any findings that could impact the proposed loan

  • Maintain organized and fully documented underwriting files on loans in process

  • Assist in the crafting of loan narratives for submission to the Chief Underwriter

  • Ensure that the underwriting team goals and initiatives are completed in a timely manner

  • Engage in post-closing activities as needed to ensure continued excellence in loan portfolio performance

Education and Experience:

  • Bachelor's degree (Business or Finance Degree preferred)

  • 2+ years of financial analyst experience with commercial real estate owner, broker, appraiser or financial institution preferred

  • Experience with GSE Multifamily lending (Fannie Mae & Freddie Mac) preferred

  • Excellent financial modeling skills including thorough knowledge of MS Excel

  • Proficient in MS Word and Outlook

Knowledge, Skills and Abilities:

  • Detail oriented, organized and accurate

  • Strong written and oral communication skills

  • Ability to handle multiple tasks

  • Passion for real estate

  • Ability to work productively in time sensitive situations

  • Good concept of financial analysis of income producing real estate

  • Good organization and analytical skills

  • Exhibit good teamwork and cooperation

  • General understanding of all major commercial real estate product types with an emphasis on multifamily properties

EEO Statement

Walker & Dunlop is an equal employment opportunity employer and does not discriminate based on race, color, national origin, religion, gender identity, sexual orientation, sex, age, disability, veteran or military status, genetic information, or any other characteristic protected by applicable law.

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VIEW JOBS 4/6/2019 12:00:00 AM 2019-07-05T00:00 In fulfilling these responsibilities, the Underwriter must comply with all Company underwriting guidelines and must be cognizant of Company representations and warranties made upon loan closings. Timely completion of all responsibilities of the Underwriter is critical to the success of our business. Accordingly, Underwriters are expected to work quickly and efficiently in moving loans from application to commitment and closing. Underwriters will be accountable in complying with the Company's "time-line guidelines". Primary Responsibilities: * Underwrite complex multifamily real estate transactions in accordance with official Freddie Mac and Fannie Mae product guidelines. * Establish underwriting timeline in conjunction with the loan officer and closing coordinator * Assist Loan Officers and Regional Managers in issuing quotes and applications: preliminary estimate of NOI and determination of threshold issues to estimate debt service coverage and loan-to-value ratios * Conduct detailed analysis of each transaction to determine the feasibility of each loan * Oversee generation of borrower's checklist for the proper product type and introducing borrower to the information requirements; * Selecting contractors and initiation of the necessary third party reports for the underwriting process (e.g., appraisal, environmental, engineering * Assess borrower financial and legal standing to determine borrower eligibility for each loan * Thorough due diligence review of issues relating to the property's market, location, condition, borrower and principal's mortgage credit issues, property management and other issues relevant to risks identified in borrowers checklist * Conduct a critical review and analysis of the appraisal, including a review of the market analysis, property description, real estate tax analysis, zoning analysis and the comparable properties submitted * Conduct a critical review and analysis of the engineering report and environmental reports plus additional reports included as part of the underwriting including, seismic studies and market studies as appropriate * Conduct site and market inspections * Prepare comprehensive loan narratives for Chief Underwriter credit approval * Additional duties and responsibilities may be assigned as required Education and Experience: * Bachelor's degree required preferably with an emphasis on Real Estate, Economics or Finance preferred * 5+ years underwriting experience with Fannie Mae and Freddie Mac loans required * Experience working with appraisers and engineering/environmental firms required * Advanced degree or professional certification (e.g., MAI, CCIM) preferred Knowledge, Skills and Abilities: * Demonstrated knowledge of and experience in multifamily underwriting. This includes but would not be limited to a working knowledge of the key players in the industry, the issues and trends facing the industry, the ability to identify and underwrite the key credit, sponsor related risks, and the ability to evaluate alternative risks carefully when structuring a transaction, and a demonstrated knowledge of property operations * Demonstrated relationships with Freddie Mac and Fannie Mae personnel * Demonstrated leadership with evidence of increasing responsibility throughout career history * Excellent interpersonal and presentation skills and the ability to effectively communicate with all levels of management * Demonstrated commitment to innovation and change and willingness to take initiative to accomplish change * Demonstrated ability to develop and execute solutions to complex issues and transactions * Multifamily experience across a wide range of financial and product executions including fixed and variable rate transactions EEO Statement Walker & Dunlop is an equal employment opportunity employer and does not discriminate based on race, color, national origin, religion, gender identity, sexual orientation, sex, age, disability, veteran or military status, genetic information, or any other characteristic protected by applicable law. Walker Bethesda MD

Underwriting Analyst - Small Balance Loans