PGIM Real Estate-Director, Senior Underwriter

Prudential Financial • Chicago, IL

9h

About The Position

PGIM Real Estate is seeking a Senior Underwriter for its FHA lending platform, which provides FHA-insured commercial mortgages for healthcare and multifamily properties. The Senior Underwriter manages the underwriting process and analyzes healthcare and multifamily applications in accordance with FHA/HUD LEAN and MAP program requirements and sound underwriting standards, with the goal of obtaining FHA commitments and closing loans.

The role is accountable for FHA/HUD submissions made on behalf of PGIM, manages transaction timelines and potential threshold issues, and prepares underwriting narratives and forms for Loan Committee and FHA/HUD review. The Senior Underwriter works with originators, internal clients, FHA/HUD staff, junior colleagues, third-party providers, and borrower teams throughout due diligence, review, approval, and closing. The position also makes autonomous credit decisions, mentors junior staff, and develops expertise in increasingly complex specialty loan types.

Requirements

• FHA/HUD LEAN and MAP underwriter certification.
• At least 5 years of recent experience underwriting MAP and LEAN transactions.
• Experience training and mentoring junior staff.
• Bachelor of Science or Bachelor of Arts degree.
• Ability to analyze and implement solutions to varied underwriting and compliance considerations.
• Excellent interpersonal and negotiation skills.
• Excellent analytical and math skills.
• Creative, flexible, proactive, and team-oriented approach, with strong customer service, communication, and negotiating skills.
• Strong organizational skills and ability to manage multiple assignments and priorities.
• Strong teamwork and partnering skills, including the ability to manage expectations of multiple internal and external constituents.
• Ability to work independently while partnering effectively within a team.
• Ability to travel as needed.

Nice To Haves

• A degree in finance, real estate, or a related discipline is preferred.

Responsibilities

• Manage all aspects of FHA/HUD submissions made on behalf of PGIM.
• Manage transaction timelines and identify threshold issues that may affect application outcomes.
• Prepare underwriting narratives and FHA/HUD underwriting forms for submission to Loan Committee and, if approved, to FHA/HUD.
• Communicate transaction status and issues proactively with originators, internal clients, and FHA/HUD.
• Direct junior staff in collecting due diligence materials and oversee compilation of applications submitted to FHA/HUD.
• Make autonomous credit decisions on loans.
• Train and mentor junior staff.
• Participate in selecting and engaging third-party report providers.
• Review third-party reports for compliance with FHA/HUD and Prudential requirements and coordinate necessary adjustments.
• Conduct site visits when applicable.
• Develop knowledge of specialty loan types of increasing complexity.
• Communicate with FHA/HUD staff about approval timing, deficiencies, and related matters.
• Review FHA/HUD firm commitments for conditions that may affect closing.
• Prepare appeals and negotiate resolutions with HUD and the borrower team.
• Coordinate the loan closing process.
• Manage data integrity in the proprietary loan-tracking database.
• Attend applicable FHA/HUD, external, or internal training as directed by management.

Benefits

• Market-competitive base salary with yearly bonus potential at every level.
• Medical, dental, vision, life, and disability insurance.
• Paid time off and leave of absences, including parental and military leave.
• 401(k) plan with company match up to 4%.
• Company-funded pension plan.
• Wellness programs, including up to $1,600 per year in reimbursement for eligible wellbeing purchases.
• Work/Life Resources for parenting, housing, senior care, finances, pets, legal matters, education, emotional and mental health, and career development.
• Education benefit for approved traditional college enrollment and accredited certificate programs.
• Employee Stock Purchase Plan, with shares available at 85% of the lower of the beginning or ending purchase-period price.
• Eligibility to participate in a discretionary annual incentive program, subject to program rules and applicable performance factors.

What This Job Offers

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