RCC Senior Underwriter II (Agency Multifamily)

M&T Bank

116d • $115,703 - $192,839

About The Position

M&T Realty Capital Corporation is a wholly-owned subsidiary of M&T Bank. As a full-service mortgage banking company, we specialize in providing competitive financing nationwide for commercial real estate. The Underwriter is responsible for due diligence and direct underwriting of multifamily transactions under the Fannie Mae and Freddie Mac programs. In addition, the Underwriter is responsible for coordinating all aspects of the loan from the time the loan is assigned to the Underwriter to closing and after to ensure all data points are consistent and correct to be prepared for a successful post-closing audit. The Underwriter needs to be flexible to pivot quickly to incorporate new procedures and software systems.

Requirements

• Bachelor's Degree or equivalent work experience and 7 years multifamily agency underwriting or related experience to include completion of multifamily inspection training.
• In lieu of a degree, a combined minimum of 11 years’ higher education and/or work experience including a minimum of 7 years underwriting or related experience to include completion of multifamily inspection training.
• Teamwork and strong verbal and written communication skills.
• Strong problem solving skills offering solutions to keep the transaction moving forward.
• Strong Excel and modeling ability.
• Travel will be required to inspect properties and attend necessary training, when available.

Responsibilities

• Analyze and manage the multifamily underwriting process ensuring loans are underwritten in accordance with appropriate investor guidelines and commitments are issued in a timely manner.
• Responsible for accurate loan sizing and overall risk assessment prior to/or after application utilizing specific investor underwriting guidelines and requirements.
• Interview prospective borrowers and property managers to obtain critical property, management, and borrower details for each transaction.
• Responsible for reviewing subordinate debt documents and regulatory agreements in accordance to the program requirements.
• Work with originators to determine most appropriate deal structure for transactions and resolve outstanding issues.
• Interact with respective Investor Representatives (Fannie Mae, Freddie Mac, etc) regarding loan transaction terms and waivers.
• Inspect property in accordance with Investor guidelines (travel required-national).
• Obtain and review all third party reports associated with each transaction as required by specific investor.
• Completion of underwriting narrative/committee package.
• Work closely with the processing team to monitor the status of the submission and communicate with the deal team and customer to ensure transactions are submitted in a timely manner.
• Review of commitment letter and handoff to loan closing department.
• Stay current new or revised legislation and regulations that may impact established policies.
• Coordinate with construction lenders, equity providers, and bond underwriters depending on the product type.
• Work with loan analysts in sizing transactions prior to transactions going under application.
• Addressing post-closing follow-up requests from asset management or rating agencies and potential buyers of the security during the securitization process (Freddie Mac).
• Mentor junior underwriters assigned to transaction.
• Complete other related duties as assigned.

Benefits

• Competitive pay range of $115,703.73 - $192,839.55 Annual (USD).
• Forty hours of paid volunteer time each year.
• Comprehensive medical and retirement benefits.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: Bachelor's degree