Associate – Underwriting

Associate – Underwriting

Requirements

• Basic knowledge of financial statement analysis, general accounting, cash flows and mortgage interest calculations.
• Knowledge of real estate finance and/or investment real estate, particularly multifamily.
• Proficiency in Microsoft Office and other relevant systems or software.
• Excellent organizational, communication, presentation, and interpersonal skills.
• Ability to plan, organize, and prioritize assignments and to meet critical and established deadlines.
• Ability to manage multiple assignments and transactions simultaneously.
• Demonstrated ability to maintain confidentiality and to use discretion in the performance of daily activities.
• Ability to learn quickly and demonstrated ability to work independently and as part of a high-performance team.
• Flexibility and ability to work under pressure with tight deadlines and constant interruptions.
• Ability to adjust priorities in a changing environment.
• Bachelor’s degree in Accounting, Finance, Economics, Real Estate, or other related fields from an accredited college/university.
• 1-2 Years of experience.

Responsibilities

• Assists the Underwriter during the loan underwriting process by requesting, collecting, managing required documentation.
• Prepare, distribute, and maintain Due Diligence Checklists and Application Workbooks, updating regularly to meet target-underwriting dates.
• Collect, review, and advise underwriting team regarding receipt and status of all underwriting documentation.
• Establish and maintain loan files. Retain and organize loan documentation in appropriate electronic data storage folders.
• Order and obtain professional reports and verifications from external parties.
• Input and analyze data.
• Verify and update property-operating information in underwriting analysis workbook.
• Upon receipt of borrower/sponsor financial statements, SREO, Underwriting Certificates, credit reports and investor database credit checks.
• Review and notify Underwriter of any material issues.
• Transfer data from reports to underwriting analysis workbook and narrative.
• Upon receipt of professional reports (e.g. appraisal, engineering, environmental assessment, seismic analysis, zoning, and market reports), transfer data into underwriting analysis workbook and narrative.
• Assists the Underwriter in the preparation and submission of loan committee presentation, including drafting sections of the underwriting narrative as assigned and preparing exhibits.
• Assists with assembling loan package and delivering to Investors after closing.
• Process invoices for payment and prepare final accounting.
• Work professionally and harmoniously with team and coworkers.
• Travel Requirements – up to 20%.
• Other projects and duties as assigned.

Preferred Qualifications

• 1-2 Years of experience with Fannie Mae and/or Freddie Mac Multifamily loan programs.