Grandbridge Agency Underwriter - Grandbridge Real Estate

Truist Bank • McLean, VA

8d • Onsite

About The Position

The Grandbridge 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 requires supervision of underwriting and due diligence processes, with a focus on making well-supported recommendations regarding final deal terms and structure to credit authorities. The Senior Agency Underwriter is expected to 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 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 the collection and analysis of data from property owners, borrowers, lenders and third party sources to prepare mortgage loan submissions in compliance with Agency standards for Agency and Truist Credit approvals.
• 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.
• Manage the due diligence process including maintenance of deal files, organizing and tracking due diligence items, creating and updating checklists, and coordinating with Closing to facilitate funding and delivery.
• Coordinate property inspections, rendering judgments 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.
• Manage, 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. 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 considered 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 maturity of the loan.
• Understand specific Agency Guide requirements, review and stay abreast of the Agency Guide and pricing changes. Train underwriting teammates, addressing deficiencies as necessary 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.

Benefits

• medical
• dental
• vision
• life insurance
• disability
• accidental death and dismemberment
• tax-preferred savings accounts
• 401k plan
• 10 days of vacation (prorated based on date of hire and by full-time or part-time status) during their first year of employment
• 10 sick days (also prorated)
• paid holidays
• defined benefit pension plan (depending on position and division)
• restricted stock units (depending on position and division)
• deferred compensation plan (depending on position and division)

What This Job Offers

• Job Type: Full-time
• Career Level: Senior