Executive Director, Senior Lead Commercial Real Estate Underwriter
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. This role involves maintaining a comprehensive knowledge of Freddie Mac and Fannie Mae underwriting guidelines, building strong relationships with partners, performing property inspections, analyzing credit, coordinating with closing teams, making credit recommendations, and serving as a team leader. The role also includes reviewing third-party reports and collaborating with various internal groups such as Multifamily Capital/CLI, WF Construction Monitoring, and Commercial Real Estate Underwriting peers.
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
- BS/BA degree or higher
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
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
Benefits
- Health benefits
- 401(k) Plan
- Paid time off
- Disability benefits
- Life insurance, critical illness insurance, and accident insurance
- Parental leave
- Critical caregiving leave
- Discounts and savings
- Commuter benefits
- Tuition reimbursement
- Scholarships for dependent children
- Adoption reimbursement
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What This Job Offers
Job Type
Full-time
Career Level
Executive
