Grandbridge Agency Underwriter - Grandbridge Real Estate

Truist•Frisco, TX

10d•Onsite

About The Position

The Agency Underwriter position involves high-level multifamily commercial real estate mortgage loan and borrower credit analysis. This includes loan sizing, structuring, underwriting, and making recommendations to the Credit Risk Management team. The role supervises underwriting and due diligence processes, providing well-supported recommendations on final deal terms and structure. The Senior Agency Underwriter must be highly proficient with Fannie Mae and Freddie Mac (“Agencies”) Guide and Underwriting requirements, develop expertise in specialized executions like Affordable Lending, and manage a multidisciplinary team to meet deadlines in a high-production environment.

Requirements

Bachelor’s degree in a related field or equivalent education and 3-5 years’ experience underwriting agency loans
Proficient level of computer skills, including strong abilities with Microsoft products such as Excel, Word, PowerPoint, etc. and their related applications
Ability to direct and train junior agency underwriters
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

Lead underwriting teammates in collecting and analyzing data from property owners, borrowers, lenders, and third-party sources to prepare mortgage loan submissions compliant with Agency standards for Agency and Truist Credit approvals.
Analyze various 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 rate surveys, and specialized documents such as tax abatements, HAP contracts, and affordable due diligence documentation.
Manage the due diligence process, including maintaining deal files, organizing and tracking due diligence items, creating and updating checklists, and coordinating with Closing to facilitate funding and delivery.
Coordinate property inspections, assessing the physical and economic conditions of the property, its immediate area, neighborhood, city, and comparable properties. Document findings with presentations including maps and aerials.
Manage, review, and interpret third-party reports such as property appraisals, physical needs assessments, and environmental reports, ensuring adherence to agency requirements.
Analyze the borrower’s legal structure and financial statements in context of property and market circumstances, and Agency and Truist requirements. Perform thorough credit and financial analysis of Borrower Entities, Key Principals, and Principals, ensuring Know Your Customer standards are applied.
Ensure credit risk issues are appropriately mitigated and significant concerns are discussed with the Deputy Chief Underwriter or Chief Underwriter.
Ensure all information in the underwriter’s narrative is accurate, material factors (strengths, weaknesses, and mitigants) affecting the transaction are adequately considered, and all credit decisions proposed in the loan underwriting are properly supported. This includes considering NOI stability, loan structure, property condition, rental market, project history, borrower creditworthiness and experience, key principals, principals, sponsors, and refinancing expectations at loan maturity.
Understand specific Agency Guide requirements, review and stay updated on Agency Guide and pricing changes.
Train underwriting teammates, addressing deficiencies and fostering talent and career development.
Prepare loan submission packages in compliance with Agency Guide and internal requirements.
Support the Deputy Chief and Chief Underwriters, exercising a high degree of autonomy in completing all underwriting aspects of the final loan delivery package.