1 DUS Affordable Underwriter - Commercial Real Estate Finance Job in Washington, DC

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DUS Affordable Underwriter - Commercial Real Estate Finance

NorthMarq Capital

Washington, DC | Full Time

$76k-97k (estimate)

1 Month Ago

DUS Affordable Underwriter - Commercial Real Estate Finance

NorthMarq Capital Washington, DC

$76k-97k (estimate)

Full Time 1 Month Ago

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NorthMarq Capital is Hiring a DUS Affordable Underwriter - Commercial Real Estate Finance Near Washington, DC

DUS Affordable Underwriter - Commercial Real Estate Finance

Northmarq - Minneapolis, MN or Washington, DC

NORTHMARQ - WHERE THE BEST COME TO THRIVE

Northmarq is entering a new era, and a landmark career opportunity is waiting for you. Northmarq is independent, and fiercely so, with the freedom to do things the right way. To hire the very best. To give them the resources to thrive. We do it because that’s what we believe. Northmarq is not held back by principles, we’re propelled by them. We and our clients are growing fast because we’re providing something rare and valuable: easy access to the industry’s best talent, an agile and collaborative style, and vast resources to execute flawless deals for our clients and partners. Northmarq was voted by Real Estate Forum as one of The Best Places to Work in Commercial Real Estate!

Due to fast business growth, Northmarq is seeking a DUS Affordable Underwriter to support the Capital Services team. The DUS Affordable Underwriter will be joining an active and successful Capital Services team to manage the quoting and underwriting aspects of the pipeline of Fannie affordable loans. Such duties include processing and analyzing information for loans pursuant to the guidelines required by the Fannie Mae multifamily program. The individual will work closely with a diverse group including originators, underwriters, closing officers, borrowers, legal counsel, vendors, etc., in order to keep all informed of a loan's current status/progress.

Northmarq provides debt, equity, investment sales and loan servicing to commercial real estate owners and investors through our 40 offices across the U.S. Northmarq is privately owned, we are part of the Pohlad Companies family of businesses. www.northmarq.com

Essential Job Functions:

Analytical Skills

Screening potential affordable transactions and obtaining Fannie quotes and waivers
Responsible for providing support to their team by assisting in preparing loan request/investment report packaging, analyzing due diligence, and various support functions including:
Inventory and review data provided and request additional information from the Borrower, if needed
Gathers site, neighborhood, and city data including demographics, sales and rent comparables, absorption surveys and occupancy studies
Analyze operating history, property rent roll, and other financial information
Prepares underwriting template based on historical financial statements, projections, and market standards to determine a projected income, value and loan amount as directed by senior team members
Review and analyze third party reports (appraisal, environmental, engineering, etc.) as directed by senior staff
Review and analyze zoning and building code analysis provided by third party consultants
Research property taxes to verify payment, outstanding taxes, exemptions and appeals
Review Borrower structure by creating and/or reviewing organizational charts and organizational documents.
Review and analyze Sponsor's real estate schedule
Review mortgage verifications and certifications to evaluate Borrower's loan history payments and creditworthiness; verify liquidity

Organizational and Project Management Skills

Plans and schedules own workload to best utilize time and most efficiently provide commercial real estate research, analysis, packaging, and loan closing services
Oversee creation of checklist and appropriate forms based on transaction and borrower structure
Track third party report delivery timelines; Complete review on final reports and due diligence, when received
Review Fannie Mae response letters and commitments;
Assist in written and oral responses to internal and external parties
Assist with closing of the transaction, as needed
Review due diligence materials for accuracy with assistance from senior team member

Client Service

Responsible for providing borrowers with prompt quality service in a friendly and professional manner.
Primary contact for third party vendors. Should be present for all kick off calls, status updates, etc.

Other

Training and mentoring junior underwriters
Additional duties and leading projects will be assigned as team and department grows

What We're Looking For:

Minimum of 3-7 years of experience in Underwriting Affordable Multifamily Income producing properties.
Four-year college degree, preferably with major in real estate finance or business administration; MBA degree desirable.
Demonstrated analytical skills and underwriting-related experience.
Strong computer knowledge and proficiency with Microsoft Office applications, in particularly Word and Excel, needed. Aptitude preferred for Adobe, database applications, InDesign, and Salesforce software a plus.
Strong organizational skills with the ability to multi-task while under pressure.
Customer service oriented.
Ability to travel for site inspections is required.
Excellent analytical and math skills are critical
Demonstrated work ethic and willingness to work extended hours when necessary
Demonstrated ability to handle multiple projects and assignments; able to prioritize and meet deadlines
Effective oral and written communication skills
Problem-solving skills to reflect level of responsibilities
Ability to maintain sensitive and confidential information
Ability to maintain positive attitude in all situations

Northmarq offers a highly competitive benefits package including: medical, dental, vision, paid time off, 401K match and an annual discretionary contribution based on business performance, paid parental leave and adoption assistance, education assistance, volunteer paid time off, charitable contribution match and so much more!