Multifamily Underwriting Senior

Freddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders. Since our creation by Congress in 1970, we’ve made housing more accessible and affordable for homebuyers and renters in communities nationwide. We are building a better housing finance system for homebuyers, renters, lenders and taxpayers.

The Multifamily Underwriting Senior will be a part of the team helping to build our newest and highest priority execution - origination of Small Balance Loans (SBL). Annual production in the Freddie Mac Small Balance Loan program is expected to grow and stabilize at $2 billion to $3 billion. The Multifamily Underwriter Senior will report to the Underwriting Manager of Small Balance Loans and is responsible for evaluating and mitigating credit risk for conventional multifamily loans up to $5 million. The position has a national scope and will directly interact with external customers. The hired candidate will be responsible for analyzing various documents required for underwriting analysis and credit decisions. In addition, the Underwriter will be responsible for underwriting and processing loans through Freddie Mac systems and ensuring loan data integrity. All responsibilities build toward credit approval and closing individual mortgage loans collateralized by multifamily properties. The position has development potential for additional responsibilities and access to training and mentorship in a rapidly growing program. Responsibilities Include: * Evaluate and negotiate all aspects of proposed loans for credit risk, prepare, review and obtain loan approvals, and issue Commitments * Generate proforma income, confirm valuation, review third party reports (Appraisal, SBL Physical Risk Report, etc.) and analyze borrower/sponsor financial position and experience in order to size loan proceeds * Inspect subject and competing properties and their neighborhood and market for condition and income producing ability * Build relationships with external customers to enhance underwriting execution and attract future business * Quickly discern loan strength and weakness/mitigants and necessary action steps for each loan * Provide mentorship and guidance to Associate SBL Underwriters * Quickly grow within the role to gain loan approval authority * Work efficiently in Microsoft Excel and Word, proprietary data systems, and on-line data sources * Apply job knowledge, company policies and principals and critical thinking to complete assigned tasks accurately, completely, and independently in a timely manner * Communicate daily to internal colleagues and external customers both via telephone and in writing * Develop resolutions to problems of limited scope following specific and detailed procedures to help drive efficiency to the high volume SBL Underwriting process

Basic Requirements * 5 to15 years of real estate experience * Bachelor's degree in Finance, Business Administration, Economics or related discipline * Experience underwriting a high volume of multifamily loans between $1MM- $5MM * Proficiency with Microsoft Excel and Word * Demonstrated strong analytical thinking skills * Ability to travel domestically Preferred Skills * MBA or Masters in related concentration such as Real Estate * Multifamily Small Balance Loan experience * Positive attitude