Senior Underwriter

Walker & Dunlop•Bethesda, MD

23h•$95,000 - $110,000•Hybrid

About The Position

We are Walker & Dunlop. We are one of the largest providers of capital to the commercial real estate industry, enabling real estate owners and operators to bring their visions of communities — where people live, work, shop, and play — to life. We are committed to creating meaningful social, environmental, and economic change in our communities. Department Overview GSE Underwriting is responsible for pre-screening and underwriting all Fannie Mae and Freddie Mac loans. The Impact You Will Have A Senior Underwriter is responsible for underwriting mortgages on income producing property in the company’s multi-family agency lines in order to support the achievement of the company’s loan production goals. The primary accountability is conducting a comprehensive and thorough analysis of each transaction which results in a prudent decision on whether or not to extend credit to a borrower. This is to be accomplished through the application of analytical techniques, research and pertinent underwriting guidelines through all stages of the underwriting process, including quotes, applications, underwriting, Loan Committee approval, closing and securitization or loan delivery. In fulfilling these responsibilities, the Senior Underwriter must comply with all Company underwriting guidelines and must be cognizant of Company representations and warranties made upon loan closings. Timely completion of all responsibilities of the Senior Underwriter is critical to the success of our business. Accordingly, Senior Underwriters are expected to work quickly and efficiently in moving loans from application to commitment and closing.

Requirements

Bachelor’s degree required.
5+ plus years of relevant experience, including a good working knowledge of market factors relevant to multifamily property, including occupancies, rent levels, expense items and experience working with appraisers and engineering/environmental firms required.
Underwriting experience with Fannie Mae and Freddie Mac required.
Demonstrated knowledge of and experience in underwriting. This includes but would not be limited to a strong working knowledge of the key players in the industry, the issues and trends facing the industry, the ability to identify and underwrite the key credit, sponsor related risks, and the ability to evaluate alternative risks carefully when structuring a transaction, and a demonstrated knowledge of property operations.
Demonstrated analytical skills with the ability to evaluate data quickly, make decisions based on imperfect data, and take action in order to assist the team in moving its transactions forward.
Excellent interpersonal and presentation skills and the ability to effectively communicate with all levels of management.
Demonstrated commitment to innovation and change and willingness to take initiative to accomplish change.
Demonstrated ability to develop and execute solutions to complex issues and transactions.
Extensive multifamily experience across a wide range of financial and product executions.
Demonstrated business management experience as well as a demonstrated capacity to provide leadership in closing deals.
Ability to show ownership of your work, take on challenges and acknowledge growth opportunities, and demonstrate patience when learning new processes.
Courtesy, respect, and thoughtfulness in teaming with colleagues and other stakeholders.

Responsibilities

Establish underwriting timeline in conjunction with the loan officer and closing coordinator.
Oversee generation of borrower’s checklist for the proper product type and introducing borrower to the information requirements
Selecting contractors and initiation of the necessary third-party reports for the underwriting process (e.g., appraisal, environmental, engineering)
Conducting a due diligence review of issues relating to the property’s market, location, condition, borrower and principal’s mortgage credit issues, property management and other issues relevant to risks identified in items collected from the borrower’s checklist.
Conduct a critical review and analysis of the appraisal, including a review of the market analysis, property description, real estate tax analysis, zoning analysis, and the comparable properties submitted.
Conduct a critical review and analysis of the engineering report and environmental reports plus additional reports included as part of the underwriting including, seismic studies, market studies, etc., as appropriate.
Conduct site and market visits
Summarize the transaction by preparing a presentation for the Loan Committee.
Senior Underwriters will be responsible for directly overseeing and training an underwriting analyst.
Managing timecard and PTO approval for the analyst.
Train analyst on day-to-day underwriting tasks and credit review.
Participate in the review process for the analyst.
Communicating and problem-solving daily with teammates, clients, vendors, and other stakeholders, often in combination with travel.
Perform other duties as assigned.

Benefits

The opportunity to join one of Fortune Magazine’s Great Places to Work winners from 2015-2023
Comprehensive benefit options that have earned Walker & Dunlop the silver level of the 2022 Cigna Healthy Workforce Designation™, some of which include:
Up to 83% subsidized medical payroll deductions
Competitive dental and vision benefits
401(k) + match
Pre-tax transit and commuting benefits
A robust health and wellness program – earn cash rewards and gain access to resources that promote health, engagement, and balance
Paid maternity and parental leave, as well as other family paid leave programs
Company-paid life, short and long-term disability insurance
Health Savings Account and Healthcare and Dependent Care Flexible Spending
Career development opportunities
Empowerment and encouragement to give back – volunteer hours and donation matching