Underwriter

JLL•Tampa, FL

2d•$150,000 - $300,000•Onsite

About The Position

JLL is seeking an experienced Underwriter to join their Capital Markets-Multifamily Debt Team. The Underwriter will be responsible for providing exceptional service to clients by underwriting multifamily products. This role requires a strong ability for detail, organization, and analytical orientation, with the initiative to work independently and reliably. The Underwriter will complete the underwriting narrative and financial analysis, identify strengths and weaknesses with appropriate mitigants, and present findings to the loan committee for approval. Knowledge of Fannie Mae DUS and Freddie Mac Program Plus programs is essential, as is the ability to underwrite both conventional and affordable multifamily and senior housing transactions. This position can be based in Dallas, DC, Tampa, Chicago, LA, San Francisco, or Atlanta.

Requirements

1-5 years of experience in Multifamily finance underwriting
An undergraduate degree in a business-related field (i.e. Finance, Accounting, Real Estate, Business)
Strong Microsoft Excel and Word proficiency
Strong math, verbal, writing, leadership, and organizational skills
Strong time management skills and ability to operate under demanding deadlines
Ability to multitask and work on several transactions simultaneously
Ability to recognize and mitigate risk
Excellent attention to detail and the ability to work independently and in teams
Ability to travel as needed
Candidates must be authorized to work in the United States without sponsorship.

Nice To Haves

Knowledge of both the Fannie Mae DUS and Freddie Mac Program Plus programs
Ability to underwrite multifamily and senior housing products, including both conventional and affordable transactions.

Responsibilities

Analyze practical problems and resolve complex transactions when confronted with minimum detailed, concrete or standardized information
Lead Initial (and all follow-up) Deal Team meetings to evaluate strengths and weaknesses of prospective loans, understand Fannie Mae DUS and Freddie Mac Program guidelines and offer direction to the team for guide compliance, establish underwriting/closing timeline, and make borrower introductions
Manage to customer satisfaction and internal timelines for transaction funding
Compile independent data and form conclusions on market conditions, management, property condition, and sponsor
Review reports prepared by third-party consultants to determine market value, physical needs, environmental concerns and architectural/cost requirements are being met for multifamily and healthcare properties
Review of specialized documents such as ground leases, regulatory agreements, Section 8 contracts, bond documentation and operating agreements
Perform financial analysis including trend and cap rate analysis, capital expenditure requirements and proforma NOI and DSC calculations
Analyze and evaluate complex ownership borrower structures relative to legal and financial responsibilities and obligations
Complete property site inspections
Regularly communicate loan status updates to underwriting team and originators as appropriate.
Prepare waiver/exception justifications
Complete loan narrative incorporating strengths, weaknesses and mitigants in the overall transaction
Work closely with closing and pricing during rate lock to ensure the approved loan amount and structure is appropriately matched to the approved rate lock terms
Review for accuracy the draft commitment letter to be issued to the borrower to ensure commitment accuracy
Review and approve data input
Mentor Analyst and Processor
Additional duties as deemed necessary by management