Arbor Realty Trust

  • Affordable Housing Underwriter

    Job Locations US
    ID
    2018-1338
    # of Openings
    1
    Category
    Underwriting/Finance
  • Overview

    The Underwriter will be responsible for assisting the Senior Underwriter with the analysis and Underwriting of loans under various financing programs.

     

    The candidate is applying for a position responsible for the underwriting of Agency affordable housing financing programs including Fannie Mae MAH and Freddie Mac TAH platforms.

    Responsibilities

    The Underwriter will have the following duties and responsibilities, including but not limited to:

     

    • Underwrite Multifamily Loans in accordance with (GSE) Fannie Mae and (GSE) Freddie Mac Agency affordable housing guidelines and requirements, while adhering to established timelines.
    • Review Regulatory Agreements, HAP Contracts, and other affordability documentation. Ensure property and underwriting is in compliance with all recorded restrictions and applicable guideline requirements.
    • Prepare thorough Underwriting Narrative and Loan Calculation Worksheet for presentation to Arbor’s Loan Committee to evaluate creditworthiness
    • Collect, analyze, and approve all required due diligence for Multifamily loans specific to either Fannie Mae or Freddie Mac
    • Formulate Net Operating Income in accordance with GSE Guidelines using sponsor submitted operating data and appraisal proforma data
    • Review and analysis of loan application documents including:
      • Financial/credit exhibits
      • Review of all third party technical reports for Underwriting
    • Liaise with Arbor’s upper management and Origination staff, along with and GSE Representatives as necessary
    • Mentor and train junior staff
    • Perform property and market inspections to evaluate property conditions and market/submarket dynamics

    Qualifications

    Education: Bachelor’s degree; finance or related field preferred.

     

    Experience: Minimum of 5 years’ experience in commercial and/or multi-family real estate finance; Preferably with GSE Agency experience; Working knowledge of agency Underwriting guidelines, title, survey and legal descriptions. Understanding and ability to process Regulatory Agreements, HAP Contracts, and other affordability documentation. Credit training is a plus but not required. 

     

    Knowledge/Skills/Abilities:

    • Proficiency in Microsoft Excel and Word
    • Strong written and oral communication skills are necessary
    • Knowledge of mortgages, real estate market, and financial lending
    • Possess excellent organizational skills
    • Demonstrated ability to prioritize projects and complete multiple tasks on schedule
    • Must be hard working, detail-oriented and able to work collaboratively as well as independently

     

    Travel: Up to 15%

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