Analyst, Underwriting

JLL•Tampa, FL

2d•$60,000 - $80,000•Remote

About The Position

The Analyst will become familiar with the Fannie Mae and Freddie Mac financing programs being offered by JLL and the required processing and underwriting responsibilities outlined for each program. Further, the Analyst will have the opportunity to be an integral participant in all stages of the underwriting, closing and delivery of a multifamily agency transaction including the initial underwriting sizing of the loan, assessing the quality of the credit information provided, traveling to inspect assets and meet with customers and participate in critical final loan delivery activities. The Analyst must demonstrate attention to detail, an organizational and analytical orientation, an ability to engage with Borrower and Borrower representatives particularly while attending site inspections and possess the initiative to work in an independent and reliable manner.

Requirements

Knowledge of Microsoft office (Word, Excel, Outlook, Teams) with an emphasis on Excel
Willingness and ability to learn new technology
Ability to work independently, unsupervised, and as a team player
Excellent organizational, interpersonal, quantitative, writing and communication skills; able to interface with clients including their top-level executives
Strong time management skill and ability to operate under demanding deadlines
Excellent attention to detail with the ability to audit own work
Strong writing skills with ability to communicate analytical and market data effectively
Strong research, analytical, and problem-solving skills. Ability to analyze qualitative and quantitative information
Ability to travel as needed
Undergraduate degree in a business-related field (i.e. Finance, Accounting, Real Estate, Business)

Nice To Haves

Real estate background (internships, real estate clubs, etc.)
Familiarity with Agency multifamily loan procedures such as Fannie Mae DUS and Freddie Mac loan process

Responsibilities

Responsible for complex financial modeling of multifamily transactions that includes analyzing property operating statements and rent rolls and determining a pro-forma NOI used for Loan determination, to be further reviewed and approved by UW. This includes obtaining and interpreting certain market and comparable data to make informed underwriting decisions, and further includes identifying and communicating questions regarding a property’s financial operations
Review reports completed by third parties, including but not limited to appraisal, physical condition assessments, architectural/cost, market study, environmental, zoning and any other relevant third-party reports for accuracy and compliance with Investor requirements and participate in the preparation of comments and requested revisions from the third party providers
Must be technically proficient in accessing various database systems (both internal and external) available to JLL to obtain, assimilate and interpret certain key data points that influence the underwriting of the loan
Must understand and review real estate documents such as leases, loan document schedule, third party reports, etc. to determine whether additional risks are presented to a transaction
Complete most, if not all, of the various sections of the complex Underwriting model utilized in the financial analysis of a transaction
Author various integral sections of the Underwriter’s narrative, including but not limited to the following: Property Description, Market, Submarket, Management, PNA, Environmental, Appraisal, Waiver Form, if applicable
Review all documentation received from client/borrower for completeness and accuracy. Report any issue of concern to team Underwriter
Will complete site inspections of multifamily assets and submarkets (neighborhoods) to determine acceptability for financing. This includes interpreting neighborhood trends, adequacy of Borrower maintenance practices and that lender expectations are met and consistent with third party conclusions. The Analyst will conduct/lead said inspection that usually involves meeting with and discussing the asset and transaction with key Borrower representatives and management
Offer direction to the team for guide compliance, and assist with underwriting/closing timeline
Work with underwriter and vendors to ensure that all parties have a clear understanding of their responsibilities
Analyze and evaluate borrower ownership structures to ensure that the application meets underwriting guidelines
Regularly communicate loan status updates to underwriting team and originators as appropriate and/or directed by the underwriter
Attend and participate in deal team calls both internally and externally with Borrower representatives
Work closely with closing team to complete any outstanding due diligence that may be required to close the loan
Create and foster relationships with Fannie Mae and Freddie Mac personnel
Look for opportunities to enhance understanding of transactions or processes, take on additional responsibilities of an Underwriter position, and discuss areas where the individual can contribute additional value to the team. Additional duties will be assigned as the individual advances their knowledge level
Review and stay abreast of agency guidelines
Perform other duties requested by management including the CU, DCUs and Underwriters
Participate in training programs to include, but not limited to, underwriting and processing concepts, mortgage credit analysis, commercial appraisal review, and physical capital needs and environmental site assessments
Through the successful execution of all of the duties outlined herein, establish strong working relationships with clients and create high customer satisfaction and retention