Agency Underwriter or Senior Agency Underwriter - Grandbridge Real Estate Capital

Truist Bank•Frisco, TX

7d•Onsite

About The Position

Provide multifamily commercial real estate mortgage loan and borrower credit analysis including loan sizing and underwriting in support of recommendations to the Credit Risk Management team. Participate in underwriting and due diligence and contribute to recommendations for credit authorities regarding final deal terms and structure. The Underwriter will be proficient with Fannie Mae and Freddie Mac (the “Agencies”) Guide and Underwriting requirements, able to collaborate in a high production environment, and may have expertise in specialized areas such as Affordable Lending.

Requirements

Bachelor’s degree in related field or equivalent education and related experience
Proficient level of computer skills, including strong abilities with Microsoft products such as Excel, Word, PowerPoint, etc. and their related applications
High attention to detail, highly organized and ability to meet deadlines
Ability to simultaneously handle a variety of assignments
Excellent written and verbal skills
Ability to take initiative with minimal direction
Ability to travel, occasionally overnight

Nice To Haves

Experience in multifamily lending with a strong preference for demonstrated knowledge and experience in specialized programs such as Fannie Mae DUS and Freddie Mac Optigo
Strong technical skills in underwriting, structuring, pricing and closing complex multifamily deals

Responsibilities

Obtain and analyze data from property owners, borrowers, lenders and third party sources needed to prepare mortgage loan submissions in compliance with Agency standards. 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.
Execute the due diligence process including maintaining deal files, organizing and tracking due diligence items, creating and updating deal checklists, and coordinating with Closing to facilitate funding and delivery.
Inspect properties and recommend conclusions 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.
Order, 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 discussed 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 end of the loan.
Understand specific Agency Guide requirements, review and stay abreast of the Agency guide changes and pricing changes.
Prepare loan submission packages in compliance with Agency Guide and internal requirements.
Assist the Deputy Chief Underwriter in completing all underwriting aspects of the final loan delivery package.