Multifamily Agency Deputy Chief Underwriter

Multifamily Agency Deputy Chief Underwriter

GSE Multifamily Agency Deputy Chief Underwriter

Zions Capital Markets is the newest bank-sponsored dual license holder with Fannie Mae and Freddie Mac. Backed by the strength and regional reach of Zions Bancorporation, we are establishing a disciplined, scalable multifamily lending business focused on delivering best-in-class execution to institutional and private real estate clients.

Team Overview

The GSE Underwriting team is responsible for evaluating, structuring, and approving multifamily transactions across both Fannie Mae and Freddie Mac programs. As part of a growing platform, the team is central to defining credit standards, enhancing execution quality, and supporting the firm’s expansion in agency lending. The Deputy Chief Underwriter will help lead this function, support the Chief Underwriter, and provide senior credit judgment across the platform.

Role Overview

This position offers the opportunity to serve as a senior underwriting leader within a newly formed agency lending platform, with meaningful influence over transaction execution, credit discipline, team development, and underwriting standards. The Multifamily Agency Deputy Chief Underwriter will provide hands‑on deal leadership, serve as a senior escalation point on complex credit matters, and help build the processes, controls, and best practices necessary to scale the platform responsibly.

Key Responsibilities

• Provide senior underwriting leadership across Fannie Mae and Freddie Mac multifamily loan opportunities, ensuring alignment with applicable agency guidelines and internal credit standards
• Support the Chief Underwriter in establishing, maintaining, and refining underwriting policies, approval processes, credit standards, and quality control protocols
• Review, structure, and approve complex multifamily transactions, including transactions with nuanced sponsorship, market, collateral, cash flow, or execution considerations
• Serve as a senior credit resource and escalation point for originators, underwriters, capital markets professionals, closing, servicing, asset management, and other internal stakeholders
• Guide underwriting diligence, including cash flow analysis, risk assessment, third‑party report review, market evaluation, sponsorship analysis, and transaction structuring
• Identify credit concerns early, develop practical mitigation strategies, and help facilitate efficient, well‑supported credit decisions
• Review and provide guidance on comprehensive credit write‑ups, approval memoranda, risk summaries, and other internal or agency‑facing materials
• Mentor and develop underwriting professionals, helping build consistency, accountability, technical depth, and sound credit judgment across the team
• Maintain strong working knowledge of Fannie Mae and Freddie Mac guidelines, program requirements, credit updates, and market practices, incorporating changes into underwriting decisions and procedures
• Partner with platform leadership to improve underwriting workflow, reporting, portfolio monitoring, audit readiness, and execution quality
• Participate in client, broker, consultant, agency, and internal stakeholder discussions as needed to support deal execution and business development
• Conduct or oversee on‑site inspections as appropriate to evaluate property condition, management quality, and local market dynamics
• Take on additional leadership responsibilities as the agency lending platform evolves

Qualifications

• Bachelor’s degree required; advanced degree or relevant professional designation preferred
• Minimum of 10 years of commercial real estate underwriting experience, with significant multifamily agency lending experience strongly preferred
• Demonstrated ability to independently underwrite,…