Senior Agency Underwriter - Grandbridge Real Estate Capital

Truist • Atlanta, GA

21h

About The Position

Provide high level multifamily commercial real estate mortgage loan and borrower credit analysis including loan sizing, structuring, underwriting and recommendations to the Credit Risk Management team. Supervise all of the underwriting and due diligence and make well supported recommendations to credit authorities regarding final deal terms and structure. The Senior Agency Underwriter will be highly proficient with Fannie Mae and Freddie Mac (“Agencies”) Guide and Underwriting requirements, is expected to develop expertise in specialized executions and areas such as Affordable Lending, and will be skilled in managing 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. More specifically, 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

• All regular teammates (not temporary or contingent workers) working 20 hours or more per week are eligible for benefits, though eligibility for specific benefits may be determined by the division of Truist offering the position.
• Truist offers medical, dental, vision, life insurance, disability, accidental death and dismemberment, tax-preferred savings accounts, and a 401k plan to teammates.
• Teammates also receive no less than 10 days of vacation (prorated based on date of hire and by full-time or part-time status) during their first year of employment, along with 10 sick days (also prorated), and paid holidays.
• Depending on the position and division, this job may also be eligible for Truist’s defined benefit pension plan, restricted stock units, and/or a deferred compensation plan.

What This Job Offers

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