VP - Senior Underwriter, Agency Affordable Housing

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The VP – Senior Underwriter, Agency Affordable Housing will be responsible for underwriting and executing complex affordable multifamily transactions under Fannie Mae and Freddie Mac affordable housing programs. This individual will collaborate closely with key business divisions, including Origination, Global Production Operations (GPO), Closing, Servicing, Transformation, and Legal to ensure transactions are appropriately structured, underwritten, approved, and closed in accordance with Agency requirements and company credit standards.

• Collaborate with the DCUW to ensure adherence to company policies, credit standards, and applicable Fannie Mae and Freddie Mac affordable housing underwriting requirements.
• Review debt application packages for compliance with Agency Affordable Housing program requirements and confirm that proposed loan sizing and structure align with applicable program and credit criteria.
• Underwrite complex affordable multifamily transactions, including properties with regulatory or affordability restrictions, rent and income limitations, tax credits, subsidies, and other affordable housing program requirements, as applicable to the transaction.
• Critically assess borrower and sponsor creditworthiness, organizational structure, third-party reports, market conditions, and property financial and physical performance to determine whether the borrower and property meet applicable Agency and company requirements.
• Evaluate the impact of applicable affordability restrictions, regulatory agreements, subsidy arrangements, and other property-specific requirements on property operations, cash flow, valuation, and credit risk.
• Ensure accuracy and compliance with applicable Fannie Mae and Freddie Mac Guides, affordable housing program requirements, required forms, underwriting standards, and third-party reports.
• Draft and finalize comprehensive underwriting submission packages that clearly articulate transaction strengths and weaknesses, identify and assess key credit risks, document appropriate mitigants, and request waivers or exceptions when necessary.
• Provide final review and approval of supporting reports and documentation.
• Partner with Origination and other stakeholders to identify potential underwriting, structural, or execution issues early in the transaction and develop appropriate solutions consistent with Agency and company requirements.
• Provide support and guidance throughout the closing process to ensure final loan documentation and transaction structure conform to approved credit terms and applicable Agency requirements.
• Proactively keep the DCUW, Originators, Analysts, Closing, GPO, and other stakeholders informed regarding transaction progress, outstanding underwriting items, credit concerns, and potential execution risks.
• Provide technical leadership, training, and mentorship to Analysts, Underwriters, GPO, and other team members regarding Agency Affordable Housing underwriting, credit analysis, and program requirements.
• Maintain current knowledge of Fannie Mae and Freddie Mac affordable housing programs, policies, Guide updates, and regulatory developments affecting affordable multifamily lending.
• Participate in Agency training and industry education to maintain expertise in evolving…