Senior Agency Underwriter - Grandbridge Real Estate Capital

Application Process

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Regular

English (Required)

1st shift (United States of America)

Provide high level multifamily commercial real estate mortgage loan and borrower credit analysis including loan sizing, structuring, underwriting and recommendations to the Credit Risk Management team. Supervise all of the underwriting and due diligence and make well supported recommendations to credit authorities regarding final deal terms and structure. The Senior Agency Underwriter will be highly proficient with Fannie Mae and Freddie Mac (“Agencies”) Guide and Underwriting requirements, is expected to develop expertise in specialized executions and areas such as Affordable Lending, and will be skilled in managing a multidisciplinary team to meet deadlines in a high production environment.

• Lead underwriting teammates in the collection and analysis of data from property owners, borrowers, lenders and third party sources to prepare mortgage loan submissions in compliance with Agency standards for Agency and Truist Credit approvals. Analyze documents including leases, sales contracts, income and expense statements, surveys, borrower financial statements, articles of incorporation, partnership agreements, deeds, easements, environmental reports, property condition reports, appraisals, title policies, deeds of trust, notes, mortgage loan commitments, lender checklists, lender loan program requirements, real estate market reports, comparable sales, capitalization rate and vacancy rates surveys, and specialized documents such as tax abatements, HAP contracts, and affordable due diligence documentation.
• Manage the due diligence process including maintenance of deal files, organizing and tracking due diligence items, creating and updating checklists, and coordinating with Closing to facilitate funding and delivery.
• Coordinate property inspections, rendering judgments as to the physical and economic conditions of the property, its immediate area, neighborhood and city, as well as comparable properties. Document findings with presentations including maps and aerials in support of conclusions.
• Manage, review and interpret all third party reports including property appraisals, physical needs assessments, and environmental reports, confirming their adherence to agency requirements.
• Analyze the borrower’s legal structure and financial statements in light of property and market circumstances, Agency and Truist requirements. More specifically, perform thorough credit and financial analysis of Borrower Entities, Key Principals, and Principals, assuring that applicable Know Your Customer standards are applied.
• Ensure credit risk issues are appropriately mitigated and significant concerns are discussed as appropriate with the Deputy Chief Underwriter or Chief Underwriter.
• Ensure all information reflected in underwriter’s narrative is accurate, that material factors (strengths, weaknesses and mitigants) affecting the transaction are adequately considered and that all credit decisions proposed in the underwriting of the loan are properly supported. Such determinations take into consideration the stability of the NOI, loan structure, property condition, rental market, project history, credit worthiness and relevant experience of the borrower, key principals, principals and sponsors and the overall expectations for refinancing the project at the maturity of the loan.
• Understand specific Agency Guide requirements, review and stay abreast of the Agency Guide and pricing…