Executive Director, Senior Lead Commercial Real Estate Underwriter

Wells Fargo•Minneapolis, MN

1d•$159,000 - $305,000•Onsite

About The Position

Wells Fargo is seeking an Executive Director, Senior Lead Commercial Real Estate Underwriter within Multifamily Capital & Community Lending and Investment. In coordination with our relationship management and closing teams, this professional will be responsible for underwriting the largest and most complex affordable housing loan requests. In this role, you will maintain a comprehensive knowledge and understanding of Freddie Mac and Fannie Mae multifamily underwriting guidelines and requirements, with specific focus on affordable housing programs. You will build and maintain strong relationships with various partners both throughout Multifamily Capital and, more broadly, the Wells Fargo Commercial Real Estate (CRE) business line as well as our GSE partners. You will perform property inspections, analyze credit of tenants and borrowers, and coordinate with the loan closing team throughout the negotiation process. You will make recommendations to credit for prospective loans, serve as a leader and industry expert on the team, sharing best practices and expertise with more junior team members. You will review third party reports including appraisals, environmental reports (phase I and II), and engineering reports. You will work closely with Multifamily Capital / Community Lending and Investment (CLI) on transactions wherein the groups partner, and work closely with WF Construction Monitoring group to process and close loans on rehabilitations and new construction. You will collaborate and consult with Commercial Real Estate Underwriting peers, colleagues, and mid-level to more experienced managers to resolve issues and achieve goals.

Requirements

7+ years of Commercial Real Estate Underwriting experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education
Ability to travel as needed
Willingness to work on-site in accordance with current office requirements
Ability to work additional hours as needed
This position is not eligible for VISA sponsorship
This position is subject to FINRA background screening requirements. Candidates must successfully complete and pass a background check prior to hire.
In accordance with FINRA rules, individuals who are subject to statutory disqualification are not eligible to be associated with a FINRA-registered broker-dealer.
Successful candidates must also meet and comply with ongoing regulatory obligations, which include periodic screening and mandatory reporting of certain incidents.
Specific compliance policies may apply regarding outside activities or personal investing; affected employees will be expected to provide information to the Wells Fargo Personal Account Dealing Team and abide by applicable policy requirements if hired.
Information will be shared about expectations during the recruitment process.

Nice To Haves

7+ years' experience of underwriting multifamily transactions
7+ years' experience Fannie Mae and Freddie Mac multifamily affordable loans
Experience with tax credit equity or construction loan debt products.
Experience performing property inspections
Experience analyzing credit of tenants and borrowers.
Experience reviewing third party reports including appraisals, environmental reports (phase I and II), and engineering reports
Leadership experience
Strong analytical skills with high attention to detail and accuracy
Excellent verbal, written, and interpersonal communication skills
Ability to work effectively, as well as independently, in a team environment
A BS/BA degree or higher

Responsibilities

Maintain a comprehensive knowledge and understanding of Freddie Mac and Fannie Mae multifamily underwriting guidelines and requirements, with specific focus on affordable housing programs
Build and maintain strong relationship with various partners both throughout Multifamily Capital and, more broadly, the Wells Fargo Commercial Real Estate (CRE) business line as well as our GSE partners
Perform property inspections
Analyze credit of tenants and borrowers
Coordinate with the loan closing team throughout the negotiation process
Make recommendations to credit for prospective loans
Serve as a leader and industry expert on the team, sharing best practices and expertise with more junior team members
Review third party reports including appraisals, environmental reports (phase I and II), and engineering reports
Work closely with Multifamily Capital / Community Lending and Investment (CLI) on transactions wherein the groups partner
Work closely with WF Construction Monitoring group to process and close loans on rehabilitations and new construction
Collaborate and consult with Commercial Real Estate Underwriting peers, colleagues, and mid-level to more experienced managers to resolve issues and achieve goals