Underwriter IV- Agency (Affordable)
About The Position
At PNC, our people are our greatest differentiator and competitive advantage in the markets we serve. We are all united in delivering the best experience for our customers. We work together each day to foster an inclusive workplace culture where all of our employees feel respected, valued and have an opportunity to contribute to the company’s success. As an Underwriter IV - Agency within PNC's Multi-Family Capital organization, you will be based in a preferred PNC location. Other PNC locations may be considered. This position may be eligible for remote work in select geographic locations, subject to approval by PNC. If approved, work must be conducted from a quiet, secure, and confidential home-based workspace. Occasional in-office participation may be required based on business needs. PNC will not provide sponsorship for employment visas or participate in STEM OPT for this position.
Requirements
- Intimate knowledge of Fannie Mae Multifamily Affordable Housing and Freddie Mac Targeted Affordable Housing products.
- Knowledge of IRS Code Section 42 and 47, equity structures and documentation, market research (including onsite inspections and market comp analysis), and 3rd party or external guidelines.
- University / college degree, with 5+ years of industry-relevant experience.
- In lieu of a degree, a comparable combination of education, job specific certification(s), and experience (including military service) may be considered.
Nice To Haves
- Credit Decisions
- Decision Making
- Financial Analysis
- Identifying Risks
- Process Improvements
- Results-Oriented
- Risk Assessments
- Accuracy and Attention to Detail
- Coaching Others
- Credit Analysis and Verification
- Decision Making and Critical Thinking
- Knowledge of Underwriting
- Managing Multiple Priorities
- Market Research
- Real Estate Development
- Real Estate Practice
- Real Estate Property Data Analysis
- Real Estate Sales Closings and Agreements
- Regulatory Environment - Financial Services
Responsibilities
- Performs review and analysis of 3rd party reports including Environmental, Property Condition Assessment, Plan and Cost Review, Appraisal, and Market Study.
- Performs property site inspections in accordance with PNC, Fannie Mae and Freddie Mac requirements.
- Works independently with little or no oversight.
- Exercises exception and elevated approval authority.
- Prepares offerings for all types of transactions at any level of complexity or in management of a portfolio as assigned.
- Interacts with internal/external customers.
- Provides recommendations for credit structuring.
- Serves as subject matter expert for certain asset classes.
- Serves as a coach, work lead and trainer for the group.
- Using independent judgment to identify risks and mitigants, prepares offerings and/or scorecards, such as risk ratings, by analyzing credit, collateral strength and financial worthiness of loan/transaction parties.
- If relevant, performs ongoing credit risk management for assigned portfolio.
- Coaches and/or reviews the work of other underwriters and fills in for manager as required.
- Contacts internal/external customers and other parties as appropriate to gather information and to clarify inconsistent, incorrect or missing information.
- May perform relevant pre-approval and post-approval activities.
- Identifies and/or confirms all external regulatory requirements.
- Ensures internal policies/procedures are followed.
- Makes recommendations on credit decisions or makes credit decisions directly, as appropriate.
Benefits
- medical/prescription drug coverage (with a Health Savings Account feature)
- dental and vision options
- employee and spouse/child life insurance
- short and long-term disability protection
- 401(k) with PNC match
- pension and stock purchase plans
- dependent care reimbursement account
- back-up child/elder care
- adoption, surrogacy, and doula reimbursement
- educational assistance, including select programs fully paid
- a robust wellness program with financial incentives
- maternity and/or parental leave
- up to 11 paid holidays each year
- 9 occasional absence days each year, unless otherwise required by law
- between 15 to 25 vacation days each year, depending on career level; and years of service
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What This Job Offers
Job Type
Full-time
Career Level
Senior
